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Special Report

Training & Qualifications - March 2012

Published by Financial Adviser | Mar 08, 2012

The RDR is one of the biggest changes affecting financial advisers, and no more is this an issue with qualifications. Financial advisers are facing up to the challenges of becoming qualified to QCF level four – if not there already – taking exams and hoping that they pass in time for the end of the year.

But what about those that started early, before the final definitions came out for the official exams? The answer has been to gap fill with additional study.

Many professional bodies have gap-fill tools, that will show advisers what they need to do to get to the required level.

There is a range of material that IFAs can select to make sure they fill in the spaces in their learning. But what if advisers want to spread their wings and develop their skills further? There are steps that can be taken if an IFA wants to use his preparations for the RDR as a jumping-off point for becoming chartered.

To take the next steps to becoming chartered, the IFA has to build up the right number of credits in the right modules.

Depending on the type of level four exam he has already taken, he will have about 100 credits. To become chartered, the IFA will need to take further exams to get to 290 to get the advanced diploma level. Beyond this advisers need to take further modules to reach chartered status.

Given the amount of study involved, it is perhaps a relief to advisers that the FSA decided to keep the requisite exams at level four, rather than the level six of chartered. But for those wishing to take that step, it could be a useful means of marketing oneself to prospective clients.

Melanie Tringham is features editor of Financial Adviser

  1. Filling the gaps

    The are plenty of resources available for advisers who need to gap-fill to comply with RDR

  2. Aspiring professionals

    For many IFAs the minimum level of qualification is simply a pathway to greater recognition of their expertise

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