How do professional bodies compare?

The FSA’s latest RDR paper says all advisers will be required to hold a Statement of Professional Standing (SPS) certificate in order to practice post-2012. Detailing qualifications, CPD and adherence to a code of ethics, the certificates are to be awarded by accredited bodies, who will be put in charge of verifying advisers are meeting the required standards. Under the proposals, membership of the bodies is not mandatory. However, to obtain the SPS, advisers will need to join, or become a ‘subscriber’ to the body’s accreditation services. But with a number of bodies available, Profes...