The Ifs School of Finance says there has been a big rise in the number of people taking its entry level certificate for financial advisers.
Head of financial regulation Mark Roberts says the number of people taking the Cefa in 2007 rose by 12 per cent on the previous year.
The average age of candidates is 33, which Roberts says addresses criticisms that the average age of financial advisers is too high.
He says: “If these trends continue, we should see a drop in the average age of financial advisers as a whole and we can be more confident that there will not be a shortage of advisers in the future.”
Cefa meets the requirements of the Financial Services Skills Council, is accredited by the Qualifications and Curriculum Authority and is incorporated into the National Qualifications Framework.
The Ifs School of Finance is seeking to build on its entry level qualification by offering an advanced module in financial advice. Afam is not yet available to all advisers as the school is seeking feedback from experienced professionals undertaking the pilots and the outcome of the retail distribution review before finalising the course content. It says it will address competency issues not satisfied by existing exams.