Guide to Gap-fill
As part of the Retail Distribution Review (RDR) process, the Financial Services Authority (FSA) has revised its requirements for the qualifications of authorised advisers. All advisers will need to meet the new level 4 exam standards by the end of 2012 to remain authorised.
Advisers, who hold an existing qualification at level 4 or above that is on the FSA’s list of transitional qualifications, need not sit a new level 4 exam but may instead meet the new standards by completing qualification gap-fill. The CERTIFIED FINANCIAL PLANNERCM certification and Fellowship of the IFP are on the FSA's list.
What do I need to do?
Existing advisers should use the following flowchart to understand their own position - download the flowchart here.
If you do have a transitional qualifcation or credits/exemptions towards a new level 4 or a transitional qualification - click here
How should I approach gap-filling?
- Select a gap-fill template - we have the FSA's draft standards template and the FSA's final standards template for you to choose from
- Map your gaps
- Fill your gaps
- Keep evidence and good records
- Apply for your Statement of Professional Standing (SPS)
CFPCM, CERTIFIED FINANCIAL PLANNERCM and CFP logo are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Institute of Financial Planning is the marks licensing authority for the CFP marks in the United Kingdom, through agreement with FPSB.