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Qualifications: stop putting off the inevitable

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Qualifications: stop putting off the inevitable

Some of you may know that I am a member of the Yorkshire Regional Personal Finance Society (PFS) Committee and last week was our regional conference with a record turnout of 137 members. 

The content was relevant and useful, but I heard some shocking statistics from our education officer. He’d emailed a survey to the 2,500 members in our region about their training needs prior to the retail distribution review (RDR) and only had seven (yes seven) responses. 

Now I am reading much about RDR preparation at the moment and there seem to be a lot of vocal IFAs out there flinching at the qualification aspect but with only two years left until RDR day or whatever acronym it may become known as, do get your training plan in place now whether it is for gap filling or actually doing exams.

On Friday last week I sat the RO1 exam – financial services, regulation and ethics. It was tough – having to learn all those EU acronyms – but hey, I did my very first financial planning exam in 1988 so the learning I have gained has both brought me up to date and evidenced that fact. Watching the news on Sunday evening about the Ireland financial bailout meant that I understood more than I would have done before I started learning the syllabus. 

So I would encourage everyone, if you haven’t already started (I guess I might already be preaching to the converted on the New Model Adviser® blog) and you are being offered training at a very reasonable cost then just get on and do it. 

Stop the talking and take some action. I'm now committed to doing the certified financial planner assessment via the Institute of Financial Planning before Xmas, and with all this snow and ice I have no reason not to sit inside and get on with it (procrastination apart)!

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