Towry: level 6 requirement in two years would be 'no surprise'

Under the Retail Distribution Review (RDR), which was implemented this January, advisers had to achieve level 4 in order to continue advising. However Towry head of client proposition David Middleton believes this could just be the start, with the regulator demanding even higher levels of professional qualifications as soon as in two years time. "I would not be surprised if level 6 at some stage in two or three years was the minimum level laid down by the regulator," he said. Middleton said that the financial advice industry has changed for the better following the RDR and that the...