Old Mutual expands it qualified financial adviser force

Old Mutual expanded their personal financial adviser force as a result of the recent number of graduates that successfully completed their Certificate in Financial Planning from Damelin Colleges countrywide.

A total of 753 advisers successfully completed the course, which is the first step in the Old Mutual financial adviser-learning path towards the qualification of the prestigious Certified Financial Planning Certificate of the Financial Planning Institute.

Old Mutual believes in the value of advice and focus o­n continued education of financial advisers. Financial advisers that do not have a recognized financial services qualification, are required to complete the Damelin Certificate in Financial Planning which is a full qualification, giving the learner 120 credits o­n NQF Level 5. Current FAIS regulations require that advisers have to complete 60 credits o­n NQF Level 5 in order to advise in the industry.

Old Mutual invests substantial amounts in their adviser force by offering full scholarships to encourage them along the adviser-learning path.

"The inadequate levels of savings, coupled with low levels of preservation of retirement benefits mean that there is a significant opportunity for financial advice to add value. Adequate financial planning with the help of an appropriately qualified financial adviser is essential to help the consumer to plan and to save adequately for retirement," says Mike Harper, Managing Director of Retail Affluent at Old Mutual.