[Weekly Wrap] To CPD or not to CPD?
We reported the view of some RFAs that education providers are "scaremongering" about CPD requirements in order to make money, or at least cut their losses (because several providers dramatically overestimated how many authorised financial advisers there would be).
The issue here is that while AFAs have clear CPD requirements, the picture is murky when it comes to RFAs, who still have the general requirement to be competent to do their job.
Whether this requires them to attend CPD courses is a topic of debate; as some commenters have pointed out, risk advice isn't as complex as investment advice and information from product suppliers could be argued as sufficient. Perhaps this could be a future FMA guidance note.
Another story involving RFAs this week was around a government review of the Financial Advisers Act, which includes the question of whether RFAs should be given a different title.
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