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Aifa to launch online RDR academy

The Association of Independent Financial Advisers today announced plans for an online academy for IFA firms to help them meet the demands of the retail distribution review.

The Academy, to be funded by Skandia, will be supported by a series of live roadshow events across the country.

Aifa director general Chris Cummings says members have reported that the current RDR proposals are too vague to enable them to prepare their business for the future.

He says: “While the consultation paper is expected in June and the final RDR deadline is not until 2012, too much uncertainty clouds good business decision making.

“To answer these problems, Aifa is creating an online academy which will help IFA firms benchmark their current position against the RDR’s requirements and plot a sensible course to be successful over the coming years. This is an ambitious and exciting project and we are very grateful for Skandia’s support in delivering it to members.”

Skandia chief development officer Peter Mann says: “There is no doubt that the RDR will necessitate advisers to make changes to their business models. But with so much uncertainty around the current proposals it may be difficult for them to know where to begin.

“Advisers need a single, influential body to represent them during the consultation and provide support to help them adapt their businesses and prosper post RDR. Aifa is the organisation to do this and we are delighted to be supporting these practical roadshows and the new online academy.”

Aifa has issued an invitation to tender for organisations that want to conduct market analysis, which will be used to create the online system. The closing date for applications is April 6, 2009.

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