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Financial education (literacy) of investors and training of advisors and intermediaries:
is the Retail Investment Strategy a revolution and where is it taking us?
The European education reform will soon be 35 years old and for almost 10 years, texts have imposed precise specific annual training requirements on certain professionals in our jobs.
The debate sometimes focused on the question of content, other times on the volume and of course, the questions of proof of monitoring or acquisition of skills very quickly occupied minds.
Certification or diploma and what information should appear on a monitoring certificate, are all questions which, in each Member State, had to be answered.
Although the monitoring methods were rapidly the subject of a shared analysis, the volumes and programs were more difficult to harmonize.
At the same time, with the complexity of offers and legal rules, scams or the mass dissemination of information, another necessity has emerged: the need to improve the level of understanding of consumers and savers. For them, as for professionals, the content, format and proof of acquired skills quickly became topics of debate and even regulations sometimes included within national plans.
In this context, the “Retail Investment Strategy” (RIS) now for the first time addresses both the training of professionals and the financial education of populations...
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