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Two thirds of advisers willing to improve standards, says Zurich

Two thirds of advisers are willing to adopt greater standards of professionalism following the QCA level 4 benchmark proposed in the FSA’s retail distribution review, reveals research from Zurich.

Research by the global insurer found that 66 per cent of advisers are prepared to study for professional qualifications to attain chartered status, compared to 54 per cent surveyed in September 2007.

Forty five per cent would welcome the introduction of a lighter supervisory regime as a non-monetary incentive for those advisers with higher qualifications.

Furthermore, 41 per cent believe the FSA has listened to the industry on incentives while just 34 per cent say that the FSA has heeded their concerns on sustainability and capital requirements. Eighty five per cent believe the proposed changes will make it harder to attract new advisers into the industry while 3 per cent thought the proposals would make it easier.

Zurich head of UK life government affairs Dr Matthew Connell says: “It is encouraging to see that advisers are supporting the FSA’s drive to increase standards of professionalism and adopt higher levels of training. The key to a strong consensus seems to be open debate and a clear, adequate transition period.”


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