The Financial Services Skills Council (FSSC) approves the accreditation submission for the ifs School of Finance’s level 4 Diploma for Financial Advisers (DipFA).
The initial stage of the FSA’s Retail Distribution Review (RDR) concluded that the minimum qualification level for a Professional Financial Adviser (PFA) needs to be raised, as soon as practicable or certainly by 2012, from Level 3 to Level 4 of the QCA’s qualifications framework. Taking DipFA will enable advisers to meet this requirement.
A substantial number have already registered an interest in taking the qualification. Furthermore, hundreds have commenced their studies and a number of networks have confirmed their willingness to encourage advisers to take the ifs Diploma – the only qualification that has been shaped around the themes of the RDR.
“The Diploma for Financial Advisers has been designed specifically for the purpose of meeting the needs of raising professionalism that have been identified throughout the FSA’s RDR process,” says Anne Kiem, dean of Further Education, ifs School of Finance.
“DipFA will help to ensure that advisers are able to present and explain their findings in a logical, clear, concise and coherent manner. It is not about the acquisition of more and more technical knowledge per se – although the process requires candidates to extend their technical knowledge beyond that contained in level 3qualifications – it is about the skills needed to effectively address new situations with the consumer in mind.”
“These are skills that a wealth of consumer research indicates are currently lacking in the financial advice arena. They are also in line with the skills that the FSSC and FSA place increasing importance in improving standards.”
L.D.