Mortgage News
Santander suspends 800 financial advisers for RDR training
Santander is to suspend its team of 800 advisers while they undergo an intensive training programme to ensure they are fully skilled for the Retail Distribution Review (RDR).
The training programme will include ensuring advisers are able to undertake suitability assessments.
The suspension will begin on Monday 10 December, and will continue for “as long as it takes,” according to a spokesperson.
In a statement the company said: “Ahead of the implementation of the Retail Distribution Review in January we are taking the time to consider the right solution for all our stakeholders.
“As part of this process we identified that our advisers require additional support and training to meet the expected standards.
“We will therefore be undertaking an additional intensive bespoke training programme. We apologise to customers for any inconvenience this may cause them.”
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During the training period, the bank will refer clients looking for advice to Unbiased.co.uk – the website offers a ‘find an adviser’ service via postcode.