According to the Institute of Financial Services, existing financial advisers who have not yet started their journey towards obtaining a Level 4 qualification and RDR compliance should not be thinking about 31 December 2012: the real RDR deadline is 3 January 2012.
This is the last date financial advisers can start their Level 4 qualifications and give the recommended study time to complete the Diploma for Financial Advisers (DipFA®) course. Starting at the beginning of January 2012 will leave advisers just enough time to complete the DipFA® and obtain their Statement of Professional Standing (SPS).
Anne Kiem, Chief Executive of the Institute of Financial Services said: "This is a call to action for anyone with the 31 December 2012 in mind who is yet to make a start. The reality is that existing financial advisers who want to continue working in the post-RDR era and haven't yet begun their Level 4 studies need to act before 3 January 2012. We can still help after this date but advisers leaving it later than this will have to sit exams and complete coursework more quickly than we recommend."
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