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Foster Denovo advisers 100% qualified for RDR

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Foster Denovo advisers 100% qualified for RDR

National IFA Foster Denovo has announced that all its 80 investment advisers have reached level four status.

The firm began the process of getting advisers qualified for the retail distribution review (RDR) in 2009, running weekly training sessions and offering administrative support for exams and gap fill.

Foster Denovo chief executive Roger Brosch (pictured) said staff had worked hard to get qualified.

‘RDR has proved time-consuming for advisers; many have found themselves embroiled in huge amounts of administration, preparing for the task in hand,’ he said. ‘As a consequence, they have either had to work harder, for longer hours, or they have seen their revenue levels being impacted. In effect, they haven’t been able to get on with the day job.’

'At a time when the industry is losing advisers who have failed to achieve the necessary qualifications, I am particularly proud of our team.’

Brosch said the next target for the firm was for all the advisers to attain chartered or certified status.

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