Advisers who hold higher minimum qualifications will be more competent and less likely to make mistakes resulting in the recommendation of unsuitable products, the FSA says today.
In its latest RDR paper, the regulator says its package of measures will improve the quality of advice and reduce the incidence of mis-selling. The FSA today publishes a list of RDR adviser qualifications and consults on whether advisers will also be required to hold a Statement of Professional Standing certificate confirming they are qualified to give advice. This adds to existing proposals requiring all financial advisers, independent or restricted, to be qualified to at least QCF Level 4 in a relevant qualification. The FSA says proposals in the RDR will improve the financial ad...
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