He said the RDR will have a positive effect on the IFA community in raising the bar on qualifications and expected this to boost their knowledge of structured products.
He said: “Will they be better qualified? Yes. Will they be better qualified to advise on structured products? I can only say they are going to be better in everything, so yes.”
However, Wilson said the impact of the RDR on the growth of the structured product industry hinged on confidence restoring to the wider market. He said: “People go to structured products with their protection and guarantees when they are frightened and they are hugely fearful at the moment. But how long will it be until greed comes in and removes the fear element?”
Blue Sky Asset Management product development director Mark Dickson said the firm principally deals with IFAs who have investment-orientated qualifications and he welcomes the FSA’s drive to boost standards in this area.
He said: “Anything that is encouraging IFAs to become better investment-aware, better qualified and gain a better understanding of products, the better they will understand how structured products can add value to a portfolio in conjunction with the other things that may be in there.”