IFA checks in on RFA members

IFA has approached its non-AFA members, to warn them they face the need to upskill to keep up with Financial Advisers Act changes.

Monday, July 25th 2016, 5:59AM

by Susan Edmunds

Fred Dodds

But chief executive Fred Dodds said the association’s members were well-positioned for educational changes under the new regime.

“We only have 40 advisers who are RFAs, out of 700 practitioners. The 660 AFAs are also dominated by 360 of them holding wither CFP or CLU designations.”

He said the 40 advisers who were not AFAs had been contacted by the association to encourage them to be proactive about the forthcoming changes.

About half had responded and indicated that they had already attained a qualification such as the level five certificate, but had not opted not to go through the full authorisation process.

Dodds said it was possible that there were many more people across the industry in that position.

Dodds said, if necessary, he would work with education providers on behalf of advisers to finish or update any requirements.

Tags: IFA registered financial advisers

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