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Jackman follows train of thought

There is a desire within the industry to market IFAs as professionals who are viewed by investors as on an equal footing with solicitors or accountants.

A significant part of this aim is to improve the exam and training standards IFAs complete before they are permitted to advise.

FSA head of industry training David Jackman is responsible for these improvements. He is heading a review of training and competence standards and has issued a consultation paper setting out a unified framework for new requirements.

As part of his review, the alphabet soup of letters following IFAs names indicating qualifications will be looked at as well as exams IFAs take.

One of the key observations made by Ron Sandler in his consultation paper was on IFAs&#39 level of investment knowledge. Jackman will be well aware of this and will be keeping it in mind as his review progresses.

His department sees a less prescriptive attitude towards competence standards. The PIA used to lay down a very narrow definition of what and how many exams would have to be taken and points accumulated. The new approach simply says advisers must be qualified but is not quite as specific about how that level is reached.

Jackman has had a notable regulatory career. He was res-ponsible for industry training and staff development at Imro. Before that, he was the first head of education at the Sec-urities Institute, which he helped to establish. Jackman also introduced the Invest-ment Advice Certificate, one of the benchmark qualifications for IFAs.

Jackman&#39s influence is likely to grow as the FSA att-empts to make independent advice a professional service.


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