Exam success for Shropshire financial adviser
A Shropshire financial adviser has become one of the first 16 advisers in the country to celebrate success in new exams as the industry prepares for wide-ranging reforms in 2012.
Simon Jenkins, an independent financial adviser working under 2plan Wealth Management, was the first from more than 200 of the company’s advisors to pass the required exam. It means he will be able to continue to offer investment advice after the Retail Distribution Review(RDR).
Mr Jenkins said: “The RDR is the Financial Services Authority’s wide-ranging reforms.
“The changes, which will take effect from the end of 2012, will improve outcomes for savers and investors by enhancing the quality of advice they receive, and prepare both consumers and the industry for the future.”
In particular the FSA is introducing rules to ensure that independent advice is truly independent and reflects investors’ needs, people can clearly identify and understand the service they are being offered, commission-bias is removed from the system, investors know up-front how much advice is going to cost and how much they will pay for it and all investment advisers will be qualified to a new, higher level, regarded as equivalent to the first year of a degree.
For more information contact Mr Jenkins on (01743) 359375.
