Since the UK formally left the European Union (EU) at the end of 2020, the PFS has been reminding members of the agreement the professional body has in place in partnership with other awarding bodies across Europe for advisers who still want to practise in the EU.
Through the PFS’s membership of the European Financial Planning Association (EFPA), PFS members automatically have an EPFA certificate that is recognised by qualification bodies in 11 countries in the EU, including Spain, Germany and Italy.
Once a PFS member has the EFPA certificate, they are able to go through a bridging process. This means that, as far as qualifications are concerned, advisers in the UK are in a similar position to the one that existed under the Directive on the Recognition of Professional Qualifications – they do not have an automatic licence to work in the EU, but they do have access to a bridging process that will enable them to use their UK qualifications in many EU states.
For more information, visit: www.thepfs.org/european-designations