Forming an integral part of the society's forthcoming new consumer facing website, the financial adviser directory will give the public access to more than 22,000 professionally qualified Financial Advisers, representing over 80 per cent of the UK's regulated financial adviser community.
Personal Finance Society chief executive, Keith Richards, said:
"Consumer demand for an ‘accredited’ professional financial adviser directory is growing as they become increasingly aware of the need and value of professional advice services."
With increasing concerns of website cloning and the risk of fraudsters emerging to take advantage of the unsuspecting public, which was further highlighted recently by the FCA, the personal Finance Society recognised the need for the public to be afforded greater protection and reassurance that adviser information contained within a directory is both accurate and independently validated.
Richards confirmed that: “anyone accessing the new site can do so with the knowledge and assurance that financial adviser details, including qualifications and active statements of professional standing (SPS), have been validated by the professional body."
All users need to do is input a town or postcode to obtain a list of financial advisers local to them. Searches can be refined according to a range of interests and the financial adviser profiles listed in the returns will clearly show SPS validation dates, professional qualifications and specialist accreditations.
The new directory is intended to complement other directories in the market rather than be competitive,” the PFS chief went on to confirm, "as we seek to broaden the breadth of access to financial advice and support at the public's fingertips."
