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IFAs must develop T&C say trade bodies

Industry trade bodies and regulators have joined together in a plea to
practitioners to continue their training & competence regimes over
the continuing period of ambiguity.

Speaking together at this year&#39s Money Marketing Live in Manchester,
representatives of Aifa, the FSA, MCCB, the Financial Services Skills
Council and the Institute of Financial Planning responded to industry
concerns that it was not worth making commitments to training and
exams until new skills and competency requirements had been
finalised by the Skills Council.

Aifa director general Paul Smee said whilst he understood some
firms might have apprehensions about qualification not matching up
under the new regime, it was important to continue making sure
advisers&#39 businesses were adequately skilled.

Both Aegon UK head of industry development Peter Williams and
FSA head trainer Darren Moxom stressed that it was important for
advisers to continue to work towards qualifications they believed to
be &#39appropriate&#39 to their businesses.

Williams said: “The key issue for the Skills Council is that we are
working towards a structure based on &#39appropriate&#39 exams rather
than &#39approved&#39 exams.

“Qualifications advisers take should be appropriate to their
businesses. In this respect, there is no need to hold off pursuing
qualifications until after the new structure is finalised.”

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