Finally, the industry regulator, the Financial Services Authority has agreed that advisers will have a single set of qualification designations.
At the moment, the letters used by advisers can take up most of the room on a business card. There is no standard designation and it can result in advisers appearing to be more qualified as they are.
We have even come across some advisers using fictitious designatory letters!
When the single set of designatory letters are introduced, potential customers will easily know just how qualified their adviser is.
A further consultation is to be held by the regulator but we look forward to a standard set of letters and much less confusion for everyone!