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Support programme launched for nearly RDR-ready advisers

Adviser firm Charles Derby has set up a supervision programme to help advisers who have recently joined the industry to reach the minimum qualifications under the RDR.

The FSA’s rules on professionalism state that existing advisers who are deemed competent as at 30 June, 2009 have to achieve a minimum QCF level four qualification including any gap-fill by the RDR deadline of 31 December this year.

The 31 December deadline does not apply to existing advisers deemed competent between 30 June, 2009 and before 1 January, 2011. These advisers have 30 months to obtain a QCF level four qualification from 1 January 2011, so have to be RDR qualified by 30 June next year.

New or trainee advisers who were deemed competent after 1 January, 2011 have 30 months to qualify from when they start the relevant activity.

The additional time limits apply to advisers who are working under supervision.

Charles Derby, which has 300 advisers in total, has launched a supervision programme to support advisers who are working to become RDR qualified by the 30 June, 2013 deadline.

The company will provide advisers with access to supervisors and consultants who will deliver day to day support from a 20-strong sales management team. Charles Derby says up to of its 50 financial planners will qualify for the programme.

Charles Derby chairman Chris Fautley says: “Charles Derby has both the trained supervisors and the capacity to support those financial planners who, for whatever reason, are not quite on track to be RDR ready.

“Achieving the level four requirement is difficult, particularly whilst simultaneously working as financial planners in order to earn a living. Charles Derby has the scale and people needed to support those who find they have not yet been able to complete their studies.”



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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Well, I must admit the headline reads better than “One in six of our advisers won’t be at QCF 4 by the end of the year” …

  2. Not quite the interpretation we intended. In CD we anticipate, at minimum, 93% of our financial planners will achieve the RDR Level 4 deadline of 31/12/2012. We are simply saying for those who don’t make it, for any number of reasons, if you want to join CD we can offer a lifeline, if you meet the criteria.

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