The FSA could force advisers to take further qualifications when they are advising on specific non-mainstream products the regulator fears could lead to poor customer outcomes.
There are already qualification requirements in the Training and Competence (TC) sourcebook for specialist advice such as long-term care insurance contracts, pension transfers and equity-release mortgages. On the same basis, it says where it is concerned certain non-mainstream products could produce poor customer outcomes, it could introduce a new requirement for an appropriate qualification. This would be in addition to the qualifications needed for mainstream activities such as advising on packaged products. "The growing sophistication of investments generally, might mean that a...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes