The Chartered Institute for Securities & Investment has seen the highest ever pass rate for the latest sitting of the Level 6 Certificate in Private Client Investment Advice and Management examination, indicating that advisors are really getting to grips with the UK regulator’s drive to push up qualification standards.

The June sitting saw 480 candidates take the examination, with 106 attaining merits and 19 obtaining distinctions.

The CISI is increasing its provision of exam sittings ahead of the implementation of the Retail Distribution Review, running six for the PCIAM exam between September 2011 and June 2012. The September sitting alone will see 330 advisors take the exam.

When the RDR comes into force at the start of 2013, UK advisors will all have to hold a QCF Level 4 qualification. Detractors of the RDR reforms have argued that many advisors will be forced out of the industry in consequence of the new mandatory qualifications, however the CISI has reported growing take-up levels for its exams, suggesting that such concerns are overblown.