Colleges prepare for student influx

The draft code of conduct for the sector sets the certificate as a base level qualification. It looks likely that all advisers who are currently registered financial advisers will need to obtain it.

Rod Severn, former chief executive of PAA and now in that role for Professional IQ,  said it was a good standard.

Professional IQ would need more resource to cater for demand for the qualification, he said. "The college will be expanding its operations as this moves forward."

David Greenslade, of Strategi, said his firm was already able to cater for 3000 to 4000 students a year.