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From Adviser Guide: Statements of professional standing

Q: What should I ask SPS providers?

There are several key questions advisers should ask providers of statements of professional standing.

By Emma Ann Hughes | Published Jun 21, 2012 | comments

Questions an adviser should ask of providers include:

1) do I need to be a member of the accredited body in order to apply for an SPS?

2) how long will it take to get my SPS?

3) how much will it cost in total, including any other fees such as membership?

4) do I have to take your body’s CPD or can I use other CPD that I am already taking?

5) when is the statement valid to and from?

6) what are the accredited body’s requirements?

You may wish to consider asking whether your accredited body provides any additional benefits.

For example, Steve Jenkins, director of financial services and insurance markets at the Chartered Insurance Institute, said his organisation and PFS members receive discounted rates on exam entry, a comprehensive CPD programme, a free gap fill tool and CPD recording.

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