Does your Financial Adviser have RO8??

Since 1^st January 2013 the academic standard for financial advisers to practice has be raised. Sadly however, once having gained the necessary qualifications no further exams are undertaken to ensure an advisers ability to keep up to date. A financial adviser merely has to confirm to the regulators that in the preceding 12 months he has undertaken a certain amount of reading!!

All well and good except with the introduction of the Taxation of Pensions Act 2014 & the Finance Act 2015 the rules in relation to pensions have been stood on their head and most of the existing rules thrown out. A new qualification Pensions Updates (RO8) has been introduced in order to keep advisers up to date but sadly it is not compulsory.

Your financial adviser will be more than happy to demonstrate his gaining this qualification and if he has not, maybe you should be looking for an adviser who has.