From Adviser Guide:
Statements of professional standing 1hr
Q: Are all statements of professional standing the same?
All statements of professional standing need to confirm the same information, such as name, FSA number and period of validity.
They may look slightly different, but Sue Wiggins, CPD manager of the Institute of Financial Services, said they all mean the same thing, “nothing more, nothing less.”
While the main requirements for receiving a statement of professional standing are the same, they may be issued based on different activities which the financial planner carries out.
For example, Steve Jenkins, director of financial services and insurance markets at the Chartered Insurance Institute, said some financial planners are authorised to advise on derivatives and their SPS will be issued reflecting this activity, although it will not be printed on the SPS itself.
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More in this guide
- Q: What is a statement of professional standing?
- Q: Who provides statements of professional standing?
- Q: What should I ask SPS providers?
- Q: How do I apply for a statement of professional standing?
- Q: How long will it take to obtain a statement?
- Q: How much does a statement of professional standing cost?
- Q: Once I have a statement, what do I need to do?
- Q: Once I have a statement, what will the provider do?
- Q: What happens if I no longer meet SPS requirements?
- Q: Can I change my provider of SPS?