IFAs tell FSA 'don't set bar at Chartered Status'

clock

IFAs have come out strongly against Chartered Status being set as the minimum qualification post RDR, FSA managing director Clive Briault told delegates at the Retail Firms Division Conference today.

He said: “There is considerable support from you for higher minimum standards and enforceable codes of ethics. “However, you have also told us not to set the qualifications bar as high as the equivalent of Chartered status because of the potential for this to strip out significant market capacity; to take a balanced view of knowledge, skills and experience in measuring competence; and to make sure that we allow sufficient time for the industry to transition to higher minimum standards.” He also sought to reassure IFAs who run “niche” businesses that the regulator was aware of their fe...

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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Friday Night Takeaway: It's the return of the banks

Friday Night Takeaway: It's the return of the banks

The news editor's Friday Night Takeaway from 10 July

Isabel Baxter
clock 10 July 2026 • 3 min read
Carla Brown on PFS/CII relationship reset and how chartered status is 'essential'

Carla Brown on PFS/CII relationship reset and how chartered status is 'essential'

PFS president and chair joins Professional Adviser in the studio

Professional Adviser
clock 10 July 2026 • 1 min read
FCA spotlights vulnerability in latest Consumer Duty review

FCA spotlights vulnerability in latest Consumer Duty review

Treatment of vulnerable clients still an area of improvement for firms

Sophia Panayi
clock 10 July 2026 • 2 min read