For those readers who have read the Discussion Paper from the Financial Services Authority on the Retail Distribution Review (RDR), there are very clear signs that they wish to raise the bar on professionalism. It is no surprise that they place emphasis on professional qualifications (or at least their expert panels do).

For those independent advisers who have not yet read the document I would suggest that you download it from the Financial Services Authority website (http://www.fsa.gov.uk). Quite simply, there would appear to be various types of adviser outlined by the regulator. The first is the I.F.A. who is diploma qualified and is remunerated by fees either time based or function based. This is the financial professional who offers a true planning service.  The second type of adviser will be tied in one way or another and may be able to offer commssion based advice.  The third type would be a guided sales person who would offer no advice at all.  As more independent advisers join the professional planner group they will need to differentiate themselves at the top of this crowded treetop!

Here at PRISM we have thought long and hard about how we can help IFAs achieve the professional financial planner title. We are offering a learning programme which will be of value, either in whole or in part. In concentrates on the key knowledge and skills that will be required in this brave new world. The syllabus consists of the following key subjects:

• Updating knowledge to help IFAs reach Chartered status, by completion of relevant examinations
• Developing skills which will be necessary when dealing with clients on a fee basis, such as negotiating, mentoring, training and presentation
• Assisting you to position your firm or you in the market place and marketing your proposition and offering
• Helping you to manage your businesses more effectively by encouraging you to think about what you do well and what could be improved

Have a read of our view on the Retail Distribution Review (PDF) and its implications.

Most readers will not require all of the above learning and so we consider a bespoke offering. In order to ascertain how we can help, why not give Geoff Gaunt a call on 01324 832820 or 07802 541812. The IFA of the future needs to be flexible and so must any training organisation if it is to deliver value.