Statements of Professional Standing (SPS)

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)

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.