FSA endorses exam-free IFA standard in RDR

Amanda Bowe, head of the regulator’s Retail Distribution Review (RDR) team, said ISO 22222 could provide “an alternative or even complementary” standard to the more established chartered and certified qualifications currently available to financial advisers. Created in 2006, ISO 22222 is available to all adviser firms as well as to individual advisers but, significantly given suggestions in the RDR to split the industry based on qualifications, does not involve compulsory exams. Instead advisers only need "demonstrate knowledge", although creators of ISO confirm a range of exams - at SCQF...