FCA creates new adviser re-evaluation test

FCA and the Chartered Insurance Institute have worked together to create a re-assessment test of the level 4 diploma in financial planning. The new “Regulated Retail Investment Adviser Re-Evaluation” will be available from October.

FCA encourages firms to use the test and may ask them to use it as part of its supervisory activities if it thinks it appropriate to identify strengths and weaknesses in specific advisers.