This is the conclusion of research carried out by Skandia that shows 78% of advisers could become chartered even though currently only 18% are so qualified.
Out of 550 advisers who answered the survey, 29% are studying towards it while 31% are thinking about studying towards it. Only 22% have no intention of doing the necessary exams.
Skandia has also carried out consumer research with 86% of individuals on the high street and 86% of professionals in their advisory offices agreeing that chartered status is important.
Such status is also seen by c consumers to be more important than whether or not the adviser is restricted, as defined by the FSA, or independent – expertise first, status second.
Nick Dixon, Skandia’s marketing director, commented: “The data is a clear sign of just how important it is going to be for advisers to achieve chartered status. The more advisers who reach chartered status, the greater the pressure will be on the remaining adviser population to also reach that benchmark.
“Consumers will ultimately decide the value placed on chartered status, but early signs from the research show just how key this is going to be in future.”
