Statement of Professional Standing: how to get yours

A Statement of Professional Standing (SPS) is an annual statement, issued by an FCA-accredited body, that confirms a retail investment adviser meets the professional standards the Financial Conduct Authority (FCA) requires. To get one, you apply to an accredited body, currently the CII, the CISI or Walbrook Institute London, which checks your qualification, your CPD and your conduct before it issues the SPS. According to the FCA, it shows an end date of verification that is a maximum of 12 months from the date of verification, so you need to renew it every year.

This guide covers what an SPS is, who needs one, how each accredited body issues it, what it costs according to each body, and what to prepare. It applies to advisers in FCA-regulated firms in the UK.

What an SPS is

The FCA says advisers must hold an annual statement of professional standing issued by an accredited body. It serves as evidence that the adviser meets the relevant professionalism standards. According to the FCA, an SPS includes:

• your name
• the end date of verification (a maximum of 12 months from the date of verification)
• confirmation that your qualifications have been verified
• confirmation of your annual declaration on keeping your knowledge up to date and on ethical conduct
• your individual reference number from the Financial Services Register

Advisers may show an SPS to prospective clients as evidence that they follow professional standards. The FCA is clear, however, that the firm still has to assess the adviser's competence. An SPS does not replace that.

Who needs an SPS

The FCA says advisers are required to obtain an SPS from an accredited body, and that firms must ensure their advisers have one. In practice, the accredited bodies describe the group as retail investment advisers. The CISI, for example, says applicants must be a retail investment adviser as defined by the FCA and must carry on FCA activities 2, 3, 4, 6, 12 or 13. The CII says the FCA requires all retail investment advisers to hold an SPS.

If you are not currently giving retail investment advice, you may not need one. Walbrook Institute London, for instance, offers a Certificate of Professional Achievement for people who hold the right qualification but are not currently advising. Check with the relevant body about which applies to your role.

The accredited bodies

The FCA lists three accredited bodies for advisers:

• the Chartered Institute for Securities and Investment (CISI)
• the Chartered Insurance Institute (CII)
• Walbrook Institute London Limited (formerly the London Institute of Banking and Finance)

The FCA says accredited bodies must apply for accreditation and enter into an agreement, are subject to annual independent audit and ongoing FCA monitoring, verify that advisers meet the required standards, and may rescind or refuse to issue an SPS. They also carry out a random 10% sample check of advisers' CPD.

What you need to get an SPS

The FCA expects the following to be in place before an accredited body will verify you:

• An appropriate qualification. Advisers must hold an appropriate qualification as set out in the FCA's Training and Competence sourcebook. See our guide to appropriate qualifications for retail investment advisers.
• CPD. The FCA says advisers need a minimum of 35 hours of CPD each year, of which 21 should be structured, plus an annual declaration to the accredited body that you have met the CPD requirements in the previous 12 months. Our guide to FCA CPD for advisers covers this in more detail.
• Ethical standards. The CII says the SPS confirms that you adhere to a code of ethical standards and have complied with the FCA's Code of Conduct sourcebook (COCON).

How each body issues an SPS

The three bodies run similar processes with different detail. The figures below are those stated on each body's own pages when we checked on 15 October 2026. Fees and timings can change, so confirm them before applying.

CII

The CII says you must be a current CII or Personal Finance Society member, hold a qualification that meets the Level 4 requirements in full (it gives the CII Diploma in Regulated Financial Planning as an example), and be an active retail investment adviser. To renew, you need an existing SPS, a paid membership subscription for the year, and a declaration that you have maintained your CPD over the last 12 months. You also confirm compliance with the FCA's APER requirements.

CISI

The CISI requires an active FCA profile, one or more of the FCA activities listed above, certification on the FCA register (CF30 if you are an appointed representative), and an appropriate qualification with any gap-fill completed. It also requires you to agree to its SPS terms and conditions, comply with COCON (or adhere to APER for appointed representatives) and sign up to its code of conduct. It says the SPS start date must be within three months of your CISI CPD year-end date.

Walbrook Institute London

Walbrook says an SPS is valid for 12 months and must be renewed annually to keep advising, with a renewal reminder sent about a month before expiry. It says you need an FCA-approved Level 4 qualification, annual CPD in line with FCA requirements, and compliance with FCA fit and proper standards and its Code of Ethics.

How long an SPS lasts

The FCA's wording is that the SPS must show an end date of verification, a maximum of 12 months from the date of verification. Walbrook states that its SPS is valid for 12 months. The CII and CISI pages we checked do not state a validity period in the same words, so rely on the end date shown on your own statement and diarise your renewal well ahead.

Frequently asked questions

Is an SPS the same as a qualification?

No. An SPS confirms that your qualification has been verified, together with your CPD declaration and ethical conduct, as of the verification date. It is renewed annually, whereas a qualification is not.

Who checks that my firm holds my SPS?

The FCA says firms must ensure their advisers have an SPS. Your accredited body also reports to the FCA, which monitors accredited bodies.

Can I choose which accredited body to use?

The FCA lists three. Each has its own membership and eligibility rules, so the practical choice usually depends on which body you belong to or qualify with.

Does an SPS cover CPD?

It includes your annual declaration that you have met the CPD requirements. The FCA says that means a minimum of 35 hours a year, with 21 structured.

Can an accredited body refuse an SPS?

Yes. The FCA says accredited bodies may rescind or refuse to issue an SPS.

Where can clients check I am regulated?

The FCA says your SPS shows your individual reference number from the Financial Services Register and encourages consumers to check the Register.

Summary

Get your qualification verified, keep your CPD records up to date, choose your accredited body and apply well before your current SPS runs out. For wider development resources, see the Learnsignal CPD hub.

This article is general information, not regulatory, legal or compliance advice. FCA rules and accredited body requirements can change, so always check the FCA and your accredited body directly.