Almost half of advisers plan to go beyond Level 4: Defaqto
Research firm says 47 per cent of advisers to go further in terms of qualifications than the RDR rules demand.
A Defaqto survey has found that 47 per cent of financial advisers intend to obtain qualifications over and above the minimum level required by the FSA’s RDR.
The research firm compared advisers’ existing qualification levels with the level that they plan to have achieved once the RDR’s rules come into effect, and found that nearly half are seeking to achieve chartered or certified status.
It said 11 per cent of advisers currently hold qualifications above Level 4, adding the RDR appears to be having a “catalytic” effect that is boosting that number.
Elsewhere, the survey found 2 per cent of respondents planned to retire and another 2 per cent were intending to leave the industry and move elsewhere ahead of 2013.
Fraser Donaldson, Defaqto’s insight analyst for funds, said a “considerable number” were seeking to go beyond them minimum qualification level required by January 2013.
“The challenge of achieving higher professional standards set by the FSA is being grasped and many advisers are seeking to differentiate themselves in the new distribution landscape by achieving a higher professional status,” Mr Donaldson said.
|
Qualification level* |
Currently have |
Plan to have post-RDR |
|---|---|---|
|
Level 3 |
91% |
93% |
|
Level 4 |
56% |
89% |
| Over Level 4 (e.g. Chartered / Certified) | 11% | 47% |
*The percentages for each qualification level are exclusive to each other. Each represents the proportion of all respondents who have attained or plan to attain that specific qualification level.