As the IFP has now been confirmed as an Accredited Body by the FSA, it has confirmed its process and terms for issuing Statements of Professional Standing (SPSs) to members in 2012.
As all advisers will need to have an SPS ‘in force’ at 1 January 2013, the IFP will be issuing SPSs to members who request them and meet the qualifications and gap fill requirements during 2012. Members will receive all necessary paperwork to apply for their SPS with their membership renewal packs from January 2012.
Where members have not completed qualifications and gap-fill requirements at their renewal date, applications can still be made for an SPS although issuance will be delayed until evidence can be supplied.
However, members don’t have to wait. They can submit qualification/gap fill evidence to the IFP for verification as soon as possible, even in advance of 2012 membership renewal dates.
A certificate will be issued to demonstrate compliance, giving peace of mind that standards have been met. There are no additional costs for SPSs, above the standard IFP membership fee.