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Reluctance to study to be a GFA

Over a fifth of advisers say they would not be prepared to study for qualifications to become a general financial adviser.

In a YouGov/Money Marketing survey, 22 per cent say they are not prepared to study for the Advanced Financial Planning Certificate.

Thirty-five per cent think Aifa is doing an excellent job in representing advisers in the RDR while 24 per cent think the PFS and the Chartered Insurance Institute are doing an excellent job. Thirty-seven per cent think the PFS/CII is not doing a good job while 20 per cent do not think Aifa is doing a good job.

Chandos Rose managing director Philip Rose says: “I think AFPC is a problem when you look at the demographics. If you have been doing the job for 20 years, then I understand why advisers would not want to start taking qualifications.”


Flight to interest-only as payment shock hits

Borrowers are expected to switch to interest-only loans to avoid the worst effects of the payment shock as their fixed deals come to an says around 24 per cent of homemovers and first-time buyers take out interest-only loans and believes this figure may rise significantly.It says the difference in monthly payments on an interest-only […]

Alarm as watchdog bares its teeth

The Financial Ombudsman Service has sent out a warning to the mortgage industry that it will make significant awards to customers who have been missold homeloans.


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