Retirement training for Personal Touch advisers
The Personal Touch network is providing training support for advisers who wish to continue to advise clients in the at retirement market.
Simon Hewitt, Personal Touch’s wealth propositions manager, said this marked the network’s “commitment to maintain the highest quality standards”.
All Personal Touch wealth management advisers providing clients with advice on the new pension freedom regime will be required to pass RO8 by 31 March 2016, except for those who already hold G60 or AF3 – for them RO8 is optional although the support is available to all.
Mr Hewitt added: “In the same way we have linked member fees to quality criteria, we want our end clients to receive the highest level of professional advice in what is now clearly a very specialist area. Incentivising members to up-skill is therefore a very important investment for us in the future.”
The support programme includes a training workshop and test papers as well as substantial online support. Advisers who wish to become qualified through an advanced level 6 pensions qualification will study the CII RO8 as an ideal stepping stone to achieving this, with an additional support programme provided for the advanced pension qualification.
Alex Lawrie, director of Personal Touch member firm, Optimize Financial Solutions Limited, said: “The opportunities and variables in the at retirement market are now vast. Professional qualifications are a key foundation to gaining the detailed understanding to support clients in this new market. We are really pleased that the support programme our network has developed will help us with our continued professional development as our industry continues to evolve post-RDR.”
Adviser View
Andrew Day, principal at Manchester-based chartered financial planners Depledge Strategic Wealth Management, said: “Yes, there is much greater demand out there. The problem is the mismatch between meeting that demand and the general reluctance of people to pay for advice. You do need more suitably trained and qualified advisers to do this.
“But then it might be a case of pushing them through the training, but they do not necessarily have the experience. But this development is certainly a step in the right direction.”
