The Financial Conduct Authority (FCA) and the Chartered Insurance Institute (CII) have launched a test to re-evaluate the knowledge required to be a retail investment adviser.
The test will be available from 1 October and is a result of the FCA's drive to raise the standards and competence of financial advisers. The regulator said firms would be encouraged to use it and warned it may use the exam as a supervisory tool if it believed it was appropriate to ask firms to re-test specific advisers. Advisers can book the 'Regulated Retail Investment Adviser Re-Evaluation' from 17 September. In a joint statement, the FCA and CII said: "We believe advisers having a good level of knowledge is the foundation to giving sound financial advice. This is particularly ...
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