The LIA is warning that a proposed review of financial advisers' exams could result in a drop in standards.
Head of public affairs John Ellis thinks the introduction of the new regime will create the temptation for authorised firms to seek out easier options.
The Financial Services Skills Council is proposing a range of modular exams from which employers can select according to the roles of staff.
Ellis says the one strength of the current system, in which the FSA gives recognition to a certificate or degree, is that it defines the knowledge needed for particular jobs. He is particularly concerned that the skills council's range does not include an advice skills exam.
Ellis says: “A good deal more work needs to be done on this package. There are some fundamental conceptual problems and also a good many technical problems which need to be addressed.”