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Broker Talkback

Should advisers who want to retire by 2018 not be forced to reach diploma level as part of the retail distribution review as long as they do a single supplementary exam?

Yes 56 percent
No 44 percent

Yes “If you have to spend all that time and money and effort, it seems unfair.”

Tony Francis, Tony Francis IFA

No “If others have to reach a level of competence, it should apply across the board.”

Ian Harlock, Acumen First

Yes “I do think a diploma qualification is too much of a commitment for those planning to exit the industry. I am in favour of higher qualifications but there have to be some concessions in that kind of situation.”

Bryan Rose IFA, Bryan Rose

No “That is five years beyond what is likely to be the deadline. At the end of the day, they can say what they want over when they will retire but they should do the same exams in the meantime.”

Steven Bates, Bates Financial Services

No “There is no reason why an IFA should not be fully qualified, regardless of when they retire.”

Jonathan Purle, Intethic plc

Yes “Sesame’s concerns are justified, otherwise the industry risks forcing a number of financial advisers into early retirement.”

Stuart Kinsey IFA, Stuart Kinsey

No “The industry needs higher- qualified people.”

Helen Simmonds, Holborn Asset Management

Yes “I think there is a need to keep up to date but I don’t think qualifications are the answer. If you rely on experience, you are missing out but if you rely on qualifications, the client is missing out.” Yes “There should be some sort of method for grandfathering.”

Peter Hall, Hallmark Independent Advice


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