IFA calls on FCA to crack down on unqualified advisers

Barretts Financial Solutions managing director Kim Barrett (pictured) called on the regulator to step up its game after hearing of advisory firms being sold because the advisers were not qualified to practice. One year after the implementation of the Retail Distribution Review (RDR), which introduced mandatory QCF LEvel 4 minimum qualifications for advisers, Barrett said this was "disgusting". Worried that advisers might have been practising unqualified after January last year, he said the FCA should have acted sooner to pressure advisers to abide by its rules. Barrett said: "Judgi...