The Retail Distribution Review could "raise the bar" of adviser qualifications, and restrict the choice available in an attempt to create a comparable standard across the country.
Speaking at an adviser roadshow, Nick Lee, head of marketing and value added services at Winterthur Life, points out the Financial Services Authority is looking at five key areas as part of the Review, including ‘professionalism and reputation’. Lee points out at the moment there are around 50 different qualifications which advisers can achieve, however he says it is difficult for a consumer to know whether a ‘qualified adviser’ in Penzance is as experienced as a ‘qualified’ adviser in Penrith. As a result he says it is possible the FSA, which is scheduled to release the findings of the...
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