Fears over minimum qualifications as AIFA enters at QCF Level 5

Stakeholders say the launch by AIFA of its QCF Level 5 Diploma in Investment Planning proves the FSA will not stick with its current Level 4 requirement “for long”. The FSA is expected to confirm later this year all existing and new advisers will need to be qualified to at least QCF Level 4 in an appropriate exam by the end of 2012. The current requirement is the equivalent of Level 3. AIFA, the consumer panel (FSCP) and the Institute of Financial Planning (IFP) agree the regulator could raise the minimum standard, but say this will likely come after 2013 and could apply to new market...