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RDR: FSA register to hold data on adviser qualifications

The FSA is proposing to include data on advisers’ qualifications, the awarding body and when they were attained in the FSA register.

In its retail distribution review consultation paper released today, the FSA says the move will boost consumer trust in the industry and will give them one place to find the information. It will also provide information about the standards consumers should expect from advisers.

The FSA also anticipates naming the adviser’s professional body.

It also says it is considering proposals for advisers to hold a practising certificate and to display it for clients to view.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. NOW they think this is a good idea?! Would have thought that they would have done this at the outset. How about a register of qualifications for people working at the FSA?

  2. Its about time that the FSA made these details available to consumers.
    However they must make sure they give a full explanation as to what the different qualifications are as consumers will not know what FPC, CeMAP or CeRCC etc means to them.

  3. The problem with this idea is that consumers will probably think having more letters afre a name means the holde will be a better adviser, but they won’t! This will become a misleading venture I fear.

  4. David Trenner - Intelligent Pensions 16th December 2009 at 4:03 pm

    Derek, Does your lawyer have letters after his/her name? If you need an appendectomy will you let me do it?

    If other professionals need relevant qualifications why shouldn’t we?

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