Which? warning on adviser qualifications

In its ‘The Money Maze' RDR consumer report, it says it supports the move to raise standards of professionalism but argues it will fail to have the desired effect unless consumers can understand what qualifications mean. Research conducted by the company suggests the public has little knowledge about which qualifications exist or how they compare. Some consumers, Which? says, were simply looking for "letters after the name". The FSA is proposing QCF Level 4 as a minimum benchmark for financial advisers, independent or otherwise, but critics say Level 6 should, and eventually will, be ...