The Diploma for Financial Advisers (DipFA), launched by the ifs School of Finance, has received official accreditation from Ofqual.
The qualification, launched in July last year, becomes the third approved Level 4 exam but comes amid controversy surrounding which exams will officially meet the minimum requirements under the RDR.
Last week, the Financial Services Skills Council (FSSC) warned advisers current qualifications cannot be guaranteed to meet the RDR's proposals.
DipFA joins the Institute of Financial Planning's CFP and the Chartered Insurance Institute's Diploma in Financial Planning as Level 4 alternatives.
"The Diploma sets out to contribute to the demands for raised standards when it comes to delivering professional financial advice," says ifs dean of further education Anne Kiem.
"We fully accept that the FSSC still has to do its work in terms of setting out the criteria for this level of professional activity that will arise as a result of the FSA's RDR."
Despite a lack of clarification from the FSSC, the FSA has said that, where there are gaps between what the FSSC comes up with and the content of a qualification, advisers will be allowed to make up the difference through a programme of continued professional development (CPD).
The ifs School says DipFA aims to deal with the "practicalities" of financial advice as well as the technical knowledge required.IFAonline
What made financial headlines over the weekend?
The chairman doggedly tries to be amusing
'Profitability is almost a myth'
Active Wealth in liquidation
Cautious welcome for volatility