At a Money Marketing round table on the retail distribution review and new blood, PosSol chief executive Jim Reeve said advisers need training alongside the QCA level four qualification to help them operate their new business models.
He said: “I think raising standards in terms of professional qualifications was expected and support it strongly but I think the key is that, on their own, professional qualifications are not going to provide necessarily much change in the market in terms of its behaviour.
“I would strongly advocate that businesses such as ours put together a medium-term training program that runs alongside professional qualifications to provide IFAs with the tools to sell their new propositions to clients and to explain their proposition clearly. There is a whole load of learning to go alongside professional qualifications.”
Reeve said many advisers need help in segmenting their client base to maximise the potential of their business.
Chartered Insurance Institute director of policy and public affairs David Thomson said: “It is not just about qualifications, it is also about skills, it is about competency in its broadest sense and it is about application. What we should be seeing is a whole portfolio of training.”