The Institute of Financial Planning (IFP) has confirmed it will apply to become an accredited body under the FSA's new professionalism regime, and hopes to start confirming advisers' status in early 2012.
Chief executive Nick Cann says the IFP will use next January's round of CFP renewals to inform members where they stand on the road to meeting the RDR's qualification and gap-fill rules.
Planners who have met the requirements will be issued with a 'virtual' Statement of Professional Standing (SPS), Cann says.
"We hope this will give a number of members peace of mind before the beginning of 2013," Cann says.
All practicing advisers will be required to hold a Statement of Professional Standing (SPS), the regulator confirmed yesterday in its Policy Statement on professionalism.
The FSA hopes SPSs, which will be supplied by accredited bodies, will provide consumers with visible notification of their adviser's professionalism and will also help firms in recruitment.
If the IFP's application for accredited status is approved, it will be one of the bodies responsible for assessing whether individuals have met the FSA's qualification and gap-filling requirements.
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Via The Exchange
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