The research company questioned over 160 advisers on their attitudes and behaviour regarding RDR.
The Financial Services Authority currently only requires Financial Planners to be qualified to Level 4 by RDR in January 2013 but many are considering Level 6 qualifications, such as the Institute of Financial Planning’s Certified Financial PlannerCM certification, to stand out from the crowd.
While 56 per cent of advisers questioned had a Level 4 qualification, only 11 per cent had a Level 6 qualification.
Fraser Donaldson, Defaqto’s insight analyst for funds, said: “The challenge of achieving higher professional standards set by the FSA is being grasped and many advisers are seeking to differentiate themselves in the new distribution landscape by achieving a higher professional status.”
In the UK, there are currently 900 Financial Planners with Certified Financial Planner status.
Financial Planners wishing to attempt CFPCM certification must have a minimum of three years working in financial services, hold an examination pass for advising on packaged products and hold an examination pass in Financial Planning, Taxation and Advanced Technical Area.
Sue Whitbread, IFP communications director, said: “CFPCM professionals regularly tell us that as a result of taking the CFP qualification they discover a better way of doing business which greatly improves the service they deliver to clients.
“Post-RDR it will be all the more important that advisers can deliver value to those clients they advise- and gaining a high level qualification like CFP certification is an ideal way to make that happen.”
For more information on CFP certification visit http://www.financialplanning.org.uk/entry-requirements