Statements of Professional Standing (SPS)

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To practise as a retail investment adviser in the UK, Guernsey or the Isle of Man, you’ll need a Statement of Professional Standing (SPS).

We're here to help – whether you’re offering financial advice in the UK, Guernsey (GsySPS) or the Isle of Man (IOMSPS) – one of our members or a non-member.

In fact, we’re the only accredited body that can issue you an SPS if you’re not one of our members, as long as you meet our criteria.

 

 

What is a ‘Statement of Professional Standing’?

An SPS is a document that the Financial Conduct Authority (FCA) requires you to hold if you wish to practise as a financial adviser. It confirms that you :

  • have successfully completed an FCA approved Level 4 qualification, such as the Diploma for Financial Advisers (DipFA)
  • have completed your annual continuing professional development (CPD) in line with FCA requirements
  • act in accordance with FCA ‘fit and proper’ standards and our Code of Ethics.

 

 

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Who is eligible for an SPS?

You require an SPS if you’re actively giving investment, tax, trusts or pension advice. You will be:

Your SPS will be valid for 12 months.

You’ll need to renew it annually if you wish to continue giving financial advice. But don’t worry, we’ll send you a renewal reminder about a month before your SPS is due to expire. You’ll also find your renewal date in your MyLIBF account.

 

What if I’m not currently a practising adviser?

We can offer you a Certificate of Professional Achievement (CPA).

If you’re looking for your first position as a financial adviser, you’re between jobs or working in a non-advice role, CPA will help you demonstrate that you’ve:

  • completed DipFA, or an equivalent qualification
  • met the requirements of our CPD scheme, and
  • adopted our Code of Ethics.

 

 

Apply for an SPS or CPA

The quickest and easiest way to apply for a UK SPS or CPA is through on our online portal. It only takes a few minutes to apply and up to five days for us to process.

Apply through our online portal

Alternatively, you can use a paper application forms. These are available for you to download as a portable document file (pdf) but will take longer for us to process.

You’ll need to:

  1. print up the form
  2. complete it in writing
  3. scan it
  4. return it to us by email/post, and
  5. make your payment by phone.

If you’re based on the Isle of Man or on Guernsey, you will need to download a paper application form and follow the steps above.

Fees

  • £55 members
  • £110 non-members