What’s in a name? IFA qualifications

There is more pressure than ever on people to save for their
future. Relying on the state is no longer a safe option for
retirement, benefits and health care. As a result, a growing number
of people are buying personal financial products like life
insurance, investments, private health plans and personal pensions. Tea
However, the world of financial planning is a jungle, and it is not
surprising that leaves many people completely baffled, which is why
There has been a huge increase in the use of independent financial institutions.
advisers (IFA). However, even the world of the IFA is complicated:
there are so many different qualifications and some IFA seem to have
an endless string of letters after their names. Therefore it can be
difficult to find the right advisor for your specific needs.
Here is a brief guide to some of the key IFA qualifications for various
aspects of financial planning, from mortgages and insurance to
pensions and investments.

The financial services industry is highly regulated and its regulation
body, the Financial Services Authority (FSA) requires professionals
working in the industry to have certain qualifications before they can
provide financial advice.
There are so many different titles issued by so many
professional bodies and institutes that charter after a financial adviser
The name can be disconcerting. Here is a glossary of some of the ratings and
abbreviations and memberships of professional bodies you may want to look up
when selecting a financial advisor that meets your needs.

The basic qualification is the Certificate in Financial Planning (Cert
FP), although it is only considered to be about the same level as a
‘O’ grade, and much more advanced qualifications are available,
both for general financial advice and for specialized products such as
mortgages and pensions.

General

Certificate in Financial Planning (Cert FP)

Advanced Financial Planning Certificate (AFPC)

Certified Financial Planner (CFP)

Associate, Society of Financial Advisors (ASFA)

Member, Society of Financial Advisors (MSFA)

Member, Society of Financial Advisors (FSFA)

Associate, Institute of Financial Planning (AIFP)

Member, Financial Planning Institute (MIFP)

Fellow, Financial Planning Institute (FIFP)

Institute of Financial Services (Chartered Institute of Bankers)

mortgages

Certificate in Mortgage Advice and Practice (CeMap)

Mortgage Counseling Qualification (MAQ)

pensions

Chartered Insurance Institute G60 Paper on Pension Planning

Association of Pension Management Institute (APMI)

investment

G70 document on portfolio management

G30 document on business investment planning

Certificate in Investment Management (Cert IM)

Investment Management Asset Allocation Qualification (IMAAQ)

Investment Management Certificate (IMC)

Professional Investment Certificate (PIC)

Member, Securities Institute (MSI)

UK Society of Investment Professionals

Sure

Associate, Diploma of the Life Insurance Association (Dip ALIA)

Member, Diploma Life Insurance Association (dip MLIA)

Fellow, Diploma of the Life Insurance Association (FLIA dip)

Associate, Collegiate Insurance Institute (ACII)

Member, Chartered Institute of Insurance (MCII)

Member, Collegiate Insurance Institute (FCII)

G80 document on long-term care, health and protection of life

A string of letters after someone’s name is not necessarily proof of
your ability as a financial adviser. There are many factors that you
You should also keep in mind when looking for financing
adviser, including cost, services offered, experience, and location.