Aifa is now taking applications for its diploma in investment planning which offers advisers a case study based qualification to meet the professional requirements of the retail distribution review.
The diploma has been launched in conjunction with the Chartered Institute of Bankers in Scotland and BPP Learning Media and was approved by the FSA in June.
Advisers can demonstrate that they have the necessary skills and competence required for the RDR by working through a series of case studies.
The case studies, based on advice scenarios, are designed to assess an adviser’s ability to develop and present suitable recommendations to clients.
It comes as recent research from NMG shows that 67 per cent of advisers are still have yet to attain an RDR-compliant QCF level 4 qualification.
Aifa’s qualification exceeds the minimum level 4 requirements stated within the RDR. The diploma and support package costs £655 for Aifa members and £695 for non-members.
Distributors including Lighthouse, Origen, Sesame Bankhall Group and Tenet have lent their support to the qualification.
Aifa policy director Andrew Strange (pictured) says: “Members have been calling for alternative routes to achieve the RDR qualification requirement.
“It is important that we recognise that not all advisers prefer the current examinations on offer, and we must therefore find other ways to assess their expertise and experience.
“We are encouraged by the early interest and support for the diploma.”