Simplified advice likely to remain level four - FSA

Scott Sinclair
clock

The FSA is unlikely to budge on rules forcing financial advisers offering simplified advice to be subject to the same qualification requirements as independent practitioners.

It follows the publication of the Professional Standards Advisory Group's (PSAG's) final standards for the core units of RDR-compliant level four qualifications. As FSA proposals stand, unqualified advisers who want to offer simplified advice will need to demonstrate knowledge of the impact of the EU on UK regulation and the workings of hedge funds, among other things, when they take their exams. In June's RDR Feedback Statement, the FSA said it was aware of a number of firms interested in offering "some form" of simplified advice process. But it said the same professional standard...

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

Deputy editor's view: A Skilled Person Review sparks headlines

Deputy editor's view: A Skilled Person Review sparks headlines

The deputy editor's Friday Night Takeaway from 19 June

Jenna Brown
clock 22 June 2026 • 2 min read
CII publishes vulnerability data guidance for firms

CII publishes vulnerability data guidance for firms

Consumer Duty and GDPR

Cameron Roberts
clock 19 June 2026 • 2 min read
Baillie Gifford rolls out Sharia-compliant fund amid 'strong' demand

Baillie Gifford rolls out Sharia-compliant fund amid 'strong' demand

Follows engagement with Islamic finance scholars

Sophia Panayi
clock 18 June 2026 • 2 min read