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.

Who is eligible for an SPS?

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

• either registered with the FCA as carrying out a post-Retail Distribution Review (RDR) activity
• or, approved by the Financial Supervision Commission (FSC) – Isle of Man or Guernsey Financial Services Commission (GFSC).

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.