Trust between customers and advisers must be boosted if the retail investment market's future is set to enjoy a prosperous future, according to the Financial Services Authority (FSA).
Sheila Nicoll, the organisation's director of conduct policy, made the comment as the body launched its final list of qualifications that advisers need to pass before the January 2013.
The expert said that from that date, customers will be aware that any adviser registered with the FSA to give retail investment tips will be fully qualified.
"Professional bodies will offer support to members and encourage them to strive for professional excellence," she added.
"This will drive up standards across the market, making it an attractive career proposition for a new generation of advisers."
Lesley Titcomb, the FSA director responsible for the mortgage sector, recently said the body's tighter controls on sale and rent back schemes would ensure customers are protected from "unscrupulous" firms.
Posted by Claire Robin