The FSA says a study conducted in Australia seven years ago provides the 'most relevant' evidence of a link between higher qualifications and better financial advice. Yet some of the highest qualified planners made the poorest recommendations. IFAonline took a closer look...
In a 2010 consultation paper (see p52) on professionalism, the regulator said it had collected evidence from around the world showing the link between higher qualifications and financial advisers making “fewer mistakes”. While most of this research has yet to be published in full, the regulator did highlight a 2003 financial planning survey carried out by the Australian Securities and Investments Commission (ASIC). Of all the evidence it collected, this, it said, was the most relevant. But while the paper is available for public viewing, the FSA did not mention all of its findings. He...
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