All financial advisers, whether they are tied or independent, are required to hold the Certificate in Financial Planning to meet the requirements of the Financial Services Authority (FSA) and the Financial Services Skills Council (FSSC).

Once they have gained these qualifications, advisers are obliged to keep up with relevant financial developments throughout their career through continuous professional development.

There are two types of advanced qualification – those awarded for general financial advice and for specific product advice, such as pension or mortgage planning. The most popular advanced qualifications are the Advanced Financial Planning Certificate (AFPC) and the Certified Financial Planner (see below) licence. A recent addition has been the Chartered Financial Planner.

From 2006, the first level of the AFPC, which comprised three parts including one on taxation and trusts, has been replaced by the Diploma in Financial Planning. The two higher levels of the AFPC are being replaced in 2007 by the Advanced Diploma in Financial Planning and a separate non-exam based fellowship programme will be introduced.

Specialist qualifications in pensions include G60 while those for investments include G70 and the Investment Management Certificate (IMC). Further qualifications in mortgages include the Mortgage Advice Qualification and the Certificate in Mortgage Advice and Practice.