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IFAs may have to pay for LIA course

IFAs face paying millions of pounds or seeking sponsorship from their

companies for the LIA&#39s new education programme.

The LIA is aiming to double the number of certi- fied financial planners

in the UK within a year and is seeking a 1m grant from the European social

fund.

However, the programme will cost 1,000 per IFA and, as the LIA wants about

5,000 advisers to take part in the programme, it would cost 5m to put them

all through.

The association has yet to apply for the grant but hopes the money will be

available from September.

The Department of Education and Employment says the social fund takes

about a year to pay out. The LIA is also asking the Treasury for financial

assistance. It suggests IFAs should seek sponsorship from their employers

to cover the costs of exam fees, materials and residential courses.

LIA president Peter Sprung says: “Companies should encourage IFAs by

sponsoring them. We have had a good start. Everyone who came to the AGM

signed up.”

David Neath was elec- ted vice-president at last week&#39s AGM.

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