The Association of IFAs (AIFA) is calling on the Government to extend its ‘Train to Gain' scheme to the financial advice sector in this month's pre-Budget Report (PBR).
It argues the move would help IFAs achieve the required QCF Level 4 qualification and ensure they are able to continue servicing their clients after the RDR's 2012 implementation deadline.
Train to Gain provides access for eligible employees to up to £1,500 worth of training support.
"This support will ensure more IFAs stay in the profession, providing people with trusted and valued independent financial advice for many years to come," AIFA director general Chris Cummings says.
"If not, there is a real danger that advisers will leave the sector, with the resulting potential for significant consumer detriment."
AIFA is also calling for the removal of the tax limit for financial advice for employees, "to encourage firms and employees to access independent advice, and as a result make more, and better, provision for themselves".
At present employers can contribute up to £150 towards the cost of financial advice for employees, before classification as a benefit-in-kind and therefore becoming taxable.
"AIFA wishes to see this tax limit removed to encourage firms and employees to access this vital independent advice," Cummings says.
"The Government should use the PBR to support and promote access to independent financial advice in the workplace."
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