Hundreds of advisers have shown interest in a diploma level qualification within days of its launch as they prepare for tougher rules on professionalism.
The Diploma for Financial Advisers (DipFA) was launched by ifs School of Finance to meet the likely demands of the Retail Distribution Review (RDR). It meets the QCA level 4 standard, which is highly likely to be required following the RDR.
The school says the qualification, which has been the subject of a pilot and will be made available to all advisers by the end of the year, has an emphasis on giving practical financial advice, client relations and adding to an individual’s current experience, rather than focusing on technical aspects.
Mark Roberts, head of financial regulation at the ifs School of Finance, says: “The qualification will not be available until the autumn but the fact hundreds of advisers have already signed up demonstrates their commitment to further developing their skills – progress that both industry and consumers will doubtless welcome.”
However, the launch of the course has revived the debate on whether experienced financial advisers should be forced to pay for qualififcations they may not need.
DipFA becomes the third QCA Level 4 - equivalent to a first-year university course - available to financial advisers.
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