Advisers will be classified in the future according to the services they provide with more qualifications required at the high net worth end, FSA director of retail policy Dan Waters has hinted.
Speaking at the Securities and Investment Institute Annual Conference 2007, Waters said a number of themes were emerging from discussions on the FSA Retail Distribution Review which is due to be published on 27 June. Waters said a key theme behind the review is a wish for the market to be segmented according to the services supplied. The five industry working groups supporting the review are also united in believing higher standards of behaviour and competence are needed. Waters says: “In line with the thinking of other industry groups, this group has suggested that a wider range of ser...
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