Trade body the Enterprise Investment Scheme Association has launched an Enterprise Investment Scheme (EIS) training course and qualification for financial advisers.
In September 2012 the trade body warned that many IFAs were in limbo over advising on EIS as they did not have a suitable qualification.
EIS Association director general Susan Phillips said: ‘It’s important because the EIS is a key driver for the small cap economy which worth over £10 billion last year, but one of the problems is that it’s not very well understood.’
The new qualification course can be accessed online via the EIS Association website and involves an online exam and continuous professional development.
MP Howard Flight, who is chairman of the EIS Association, and a political champion of EIS, welcomed the move.
‘This education programme has been evolved in response to demand from our members and is likely to revolutionise the way financial advisers invest in EIS investments,’ he said.
‘This scheme will help propel EIS investment in such a way, that not only will small businesses gather the support they badly need, but will also give investors broader access to this valuable and tax efficient style of investment.’