Financial adviser qualifications: everything you need to know
FCA-recognised qualifications for financial advisers and whole-of-market financial advisers. Find out what qualifications your financial adviser should have.
When you’re looking for guidance with your money in the UK, a financial adviser’s qualifications are worth checking.
You’ll want to know that they are legitimate and have the specialist knowledge that you need.
A fully qualified adviser will be happy to show you their certificates to prove they are able to advise you in the relevant areas.
To help you double-check a financial adviser's qualifications and understand what they really mean, we’ve put together this handy article.
What qualifications should a financial adviser have?
Until 2015, most financial qualifications were assessed under the Qualifications and Credit Framework (QCF), which was replaced by the Regulated Qualifications Framework (RQF).
While there are many routes to becoming a financial adviser, such as studying at university or an apprenticeship, an adviser must have a qualification recognised and approved by the Financial Conduct Authority (FCA).
At a minimum, they must have completed a Level 4 diploma for financial advisers. This is essential, as it signifies that the adviser meets the FCA’s minimum qualification standard for giving professional advice.
All financial advisers available via Unbiased are regulated by the FCA, so you have peace of mind when getting any advice.
To help you interpret the eight different levels, we’ll compare them to more familiar qualifications:
| RCF level | Equivalent to: |
|---|---|
| 1–2 | Below A-level |
| 3 | A-level, BTEC, advanced apprenticeship or an international baccalaureate |
| 4 | Higher national certificate or higher apprenticeship |
| 5 | Foundation degree, higher national diploma or higher education diploma |
| 6 | Bachelor’s degree or degree apprenticeship |
| 7 | Postgraduate diploma, certificate or Master’s degree |
| 8 | Doctorate degree |
Do they have a Statement of Professional Standing?
Every financial adviser must have a current Statement of Professional Standing (SPS).
This indicates that they have:
- An FCA-approved Level 4 qualification
- Completed continual professional development (CPD) to maintain up-to-date knowledge and skills
- Followed the FCA’s standards and the code of ethics
The SPS must be renewed annually, ensuring that the adviser continues to meet professional standards.
Below you can view the specific qualifications approved by the FCA, the only kind that we recognise.
Click on each institute name to see the qualifications that it issues.
The London Institute of Banking and Finance
Chartered Institute of Bankers in Scotland
What should I do once I find a financial adviser?
Once you connect with a financial adviser, it’s good to be prepared ahead of your free initial meeting.
We run through what to expect and the questions you should ask your adviser to make sure they are right for you in this article.
Get expert financial advice
Ensuring that your financial adviser holds the appropriate qualifications and a current Statement of Professional Standing is crucial for receiving reliable and professional advice.
By verifying their FCA-recognised qualifications and understanding their adherence to industry standards, you can make informed decisions and gain peace of mind about the guidance you receive.
Always check the latest information from reputable sources to ensure your adviser meets the current regulatory requirements.
Unbiased will connect you with a financial adviser who holds an FCA-recognised qualification and upholds the highest standards of professional conduct, ensuring you receive expert financial advice.
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