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) – even if you're not an LIBF member. In fact, we’re the only accredited body that can issue an SPS if you’re not one of our members, so long as you meet our criteria.
If you're already an LIBF member and hold SPS as well as a fully active financial adviser, you’re eligible for Certified Professional in Financial Advice status.
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.
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.
Online PortalIf you struggling to use the portal or are based on the Isle of Man or on Guernsey, you will need to complete the SPS/CPA form. Please be aware that this will take longer for us to process.
Fees
£57 members
£114 non-members
Employers and networks
Save your employees time! We can process all the SPS applications for your firm in bulk.
Contact customerservices@libf.ac.uk or phone 01227 818609 for more information.
If your firm needs to report an FCA breach for your SPS holder(s), please complete our FCA Regulatory Breach form (pdf).
Register
Our Professional Services Register is searchable and shows individuals who currently hold one or more of our professional services, including SPS.
SPS policies
Questions about our membership?
If you have any questions about LIBF membership, please contact our customer services team.
Festive closure: our office will be closed from 5:00pm on 24 December 2024, reopening at 8:00am on 2 January 2025 (UK time). We hope you have a wonderful festive season and look forward to supporting you in the new year.
Our professional qualification customer services office is open:
Monday to Friday from 8.00am to 6.00pm UK time (excluding the festive closure period).
