The PFS now recognises the Society of Later Life Advisers’ (SOLLA) Later Life Adviser Accreditation as counting towards Fellowship status.
To achieve the SOLLA Later Life Adviser Accreditation, financial planners must evidence their later-life technical knowledge, demonstrate they work within a supportive environment and confirm ongoing maintenance of competence within their online submission. Advisers undertake a final Viva assessment. Then, their overall application is scrutinised by an independent accreditation panel to check the adviser’s application of knowledge and soft skills before the Later Life Adviser Accreditation is granted.
To achieve Fellowship of the PFS, financial advisers must complete further examinations after achieving the Chartered Insurance Institute’s (CII) coveted Chartered status.
Credits are awarded for every CII qualification unit passed and those with at least 350 credits are awarded Fellowship.
Following talks between SOLLA and the PFS, SOLLA Later Life Adviser Accredited financial planning professionals can now make a formal application for recognition of this award as part of their request for PFS Fellowship status.
Financial planning professionals simply need to complete an online application form on the CII’s website and attach evidence of their current SOLLA Later Life Adviser Accreditation, which is recognised as 30 credits.
The recognition of SOLLA’s accreditation comes after the CII ‘Shaping the future together’ consultation proposed that regulated qualifications and experience would no longer be the only way to achieve Chartered and Fellowship designations.