Forecasts of an IFA exodus in the build-up to 2012 appear unfounded as advisers previously unwilling to take more exams are changing their minds, research suggests.
According to research by business consultants NMG, and based on interviews with 140 individuals, a fifth of advisers who previously stated they had no intention of increasing their qualifications to the QCF level four minimum having now began their studies.
The results, gathered between January and October this year, suggest 21% of advisers have made a positive transition towards the level four qualifications and becoming RDR-ready.
During 2009, two thirds of those polled have taken positive action, of which 20% have switched from intending to study for RDR level qualifications to having actually started.
NMG director David Burns says: "The results from our surveys this year show that significant proportions of the IFA community are now beginning to take action in order to meet the requirements of the RDR.
"Whilst there are still three full years ahead before the end of 2012 it is encouraging to see many IFAs are already making positive steps towards being qualified at the required standards."
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