Two thirds of advisers believe that a better qualified financial adviser will deliver higher quality advise, regardless of their specialist area. In addition, nearly four fifths believe that it should be mandatory for advisers to be a member of a professional body.
There is a real determination to develop professional skills amongst CII members despite mixed feelings about the RDR process itself. Nearly half of these advisers expect to operate as a Professional Financial Planner, while just over a third expect to operate as a General Financial Adviser.
David Thomson, director of policy and public affairs at the CII said: "It is encouraging to see such a strong interest in improving professionalism in this sector. The majority who have already met the minimum standard are keen on improving their qualifications still further, of which a 41 per cent see themselves striving towards the excellence of the Chartered title.
" Already half of advisers see themselves going down the professional financial planner route. We see this as a clear indication that financial advisers see greater professionalism as a key objective going forward in this sector."
Shaun Crawford, head of insurance at Ernst and Young, said: "Responses show that there is a surprising determination to develop professional skills amongst CII members, despite mixed feelings about the RDR itself. The RDR has thrown out a number of issues which are causing financial advisers to think about their position in the marketplace. As this develops, we will be conducting follow up surveys with the CII to track the 'temperature' on these questions, in addition to continuing to test views on other RDR issues.
