1. Quals
    June 26, 2018 @ 9:02 am

    Would it not be better to contact the various exam bodies themselves and let them know this is going on? It probably never occurs to anyone to check that claims of exams on profiles may not be true.

    What exams should we be looking for within an individual or organization? Could someone in the financial industry comment, rather than relying on a blog on here to come to a conclusion?


    • Angie
      June 26, 2018 @ 1:57 pm

      You are absolutely right Mr. Rprday (how do you pronounce that?). I would love for someone within the financial services industry (preferably with a pronounceable name). Strange that hundreds haven’t rushed forward…..


  2. John Rogers
    June 26, 2018 @ 9:01 pm

    You would accept the word of someone from the financial services industry Mr.Rprday?
    Perhaps if we labelled the qualified ones as FAs and the unqualified as Sweet FAs it might be easier. I’ll get the branding irons ready.


    • Angie
      June 27, 2018 @ 8:10 am

      A lovely chuckle for a Wednesday morning! I think I might do a blog on that 🙂


  3. Kev Ducky
    June 27, 2018 @ 10:46 am

    You can have the exams but not be registered as this is not a prerequisite(sp?) in Spain. So it is possible that these advisers have attained the qualifications but as they are not UK based feel no need to be on the FCA register.
    Not saying it is right, but there are heavy costs involved when being part of the FCA


  4. Stephen
    June 28, 2018 @ 8:21 am

    I have commented before on twitter (maybe here also, can’t remember) that qualifications are not worth the paper they are written on IF the holder is NOT authorised by the regulator to offer the services they are offering!

    Unauthorised advice regardless of how qualified the person is, bars you from the FCA compensation scheme and Ombudsman services! I discovered this the hard way!

    Trustees and dodgy QROPS in particular, in Mickey Mouse jurisdictions, claim to do Due Diligence on “advisers” (euphemism for scammers) they hand the management of your pension over to, and when you ask what DD was carried out, they only produce the “adviser’s” qualifications and you discover the “adviser” wasn’t regulated or licensed to give that advice. Generally they turn out to be nothing more than insurance salesmen – pond life! They generally have the bare minimum qualification – ie they can spell “investment advice” but this is usually below the minimum a regulator would accept to authorise the provision of investment advice to retail clients.

    Quals are a smokescreen! Regulatory status is a better measure. At least you then have a modicum of reparation when things go wrong.


Leave a Reply

Your email address will not be published. Required fields are marked *