RDR: Higher IFA qualifications too much, too soon?

clock

Setting the standard for fully independent IFAs "too high" and "too quickly" will dramatically reduce the number of IFAs, says David Seaton, director of consultancy at Rowanmoor Pensions.

Seaton believes the RDR’s proposals for higher qualifications for advisers will drive up prices and ensure only the rich will be able to afford true independent advice. The FSA’s proposals for advisers offering primary advice are even further off the mark, says Seaton. He says: “The proposed concept of less qualified, less regulated primary advice sales forces plays into the hands of the banks and life assurance companies. It will take us back to the 1980s with large tied sales forces flogging highly priced products to the masses. This will be a disaster for the general public.” Howev...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

 Why ongoing advice matters when client confidence is low

Why ongoing advice matters when client confidence is low

'What clients value most from advisers is clear priorities, reassurance and practical help'

Sophie Hall
clock 19 May 2026 • 3 min read
Simplybiz academy to 'level the playing field' for smaller firms

Simplybiz academy to 'level the playing field' for smaller firms

Academy launched to help smaller firms grow organically

Sophia Panayi
clock 19 May 2026 • 4 min read
FSCS forecasts levy drop to £247m in 2026/27

FSCS forecasts levy drop to £247m in 2026/27

Compensation payments of £267m anticipated

Sophia Panayi
clock 18 May 2026 • 2 min read