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Ifs sees 12% rise in Cefa candidates

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.


Paragon cutting 93 staff and merging salesforces

Paragon is to make up to 93 of its 650-strong workforce redundant as part of plans to restructure its Paragon Mortgages and Mortgage Trust divisions.The lender says 38 of these staff are broker-facing and have entered a formal 30-day consultation period.The Paragon Mortgages and Mortgage Trust salesforces will be merged into a national multi-brand sales […]

Advisers slam Selestia’s service

Advisers claim service levels at Selestia Investment Solutions have declined since the merger with Skandia last August.Liverpool-based Alpha Financial Management director Stephen Lee says he has been a loyal user of Selestia for years but has seen a rapid decline in service standards since the merger.Lee says: “The service is now rubbish and it is […]

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.


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