Paraplanners
You already research, analyse and write suitability reports, and you know the technical side well. Many firms see paraplanning as a natural step towards becoming an adviser.
Become a financial adviser
Your route into financial advice starts with a conversation
Helping people become financial advisers is the heart of what we do. If you are a paraplanner, an administrator, or bringing experience from banking, insurance or another career, we will help you understand the route and introduce you to firms that train and supervise new advisers.
The route, in brief
From first conversation to competent adviser
- A conversation with usYour readiness and options
- A Level 4 qualificationFrom an accredited body
- Advising under supervisionUntil assessed as competent
- Competent adviserWith an annual SPS and ongoing CPD
Who this is for
You may be closer to advice than you think
Good advisers combine technical knowledge with an ability to listen, explain and earn trust. Many of those skills are built in roles you may already have.
Administrators & client support
You know how advice firms run, from new business and LOAs to reviews and client servicing. That grounding is valued by firms with trainee routes.
Banking & building societies
Customer-facing, lending, savings or branch experience, where you have worked with clients, within regulation, every day.
Insurance & protection
Protection, general insurance, underwriting, claims or mortgage experience gives you a head start on part of the knowledge and on client conversations.
Other careers
Teaching, accountancy, sales, the armed forces, healthcare and more. If you are good with people and comfortable with numbers, the route is open to you.
Part-qualified or returning
Already studying, holding some units, or qualified but out of advice for a while? We can help you find a firm that will support the next step.
The route, at a high level
How people become financial advisers in the UK
Every firm does things a little differently, but the main steps are set by the Financial Conduct Authority (FCA). Here is an honest overview of what is involved.
Recognised Level 4 qualifications include
Qualifications people commonly take
- CII Diploma in Regulated Financial PlanningUnits R01 to R06
- Diploma for Financial Advisers (DipFA)Walbrook Institute London, formerly LIBF
- Statement of Professional StandingRenewed every year, alongside CPD
A general overview only, not advice.
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Build knowledge and experience
Many advisers start in a support role such as administration, client support or paraplanning, or bring transferable skills from another career. Understanding how advice works in practice makes the next steps easier.
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Gain an appropriate Level 4 qualification
To give retail investment advice you need a qualification on the FCA’s list of appropriate qualifications. The most common are:
- The CII Level 4 Diploma in Regulated Financial Planning, made up of six units covering regulation and ethics, investment, taxation, pensions and retirement planning, protection, and a final financial planning practice unit.
- The Level 4 Diploma for Financial Advisers (DipFA) from the London Institute of Banking & Finance (LIBF), now known as Walbrook Institute London.
Other appropriate qualifications exist. Many people study while working, and some firms support study as part of a trainee or academy programme.
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Join a firm with a trainee, academy or supervised route
Firms must supervise advisers who have not yet been assessed as competent, and many run trainee adviser, academy or ‘adviser in training’ roles for this. Supervision and mentoring from experienced advisers is where theory becomes practice.
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Be assessed as competent
Your firm assesses when you are competent to advise without close supervision. This needs an appropriate qualification together with demonstrated competence in the role. The firm will also assess and certify that you are fit and proper under the FCA’s Senior Managers and Certification Regime.
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Hold a Statement of Professional Standing (SPS)
Retail investment advisers need an SPS, renewed every year, from an FCA-accredited body (CII, CISI or Walbrook Institute London). It confirms you hold an appropriate qualification, have kept your knowledge up to date (at least 35 hours of CPD a year, 21 of them structured) and have signed up to a code of ethics.
A general overview, not advice. This page is a simplified summary to help you start a conversation. It is not careers, regulatory or qualification advice. Requirements vary by role and can change, so always check the latest position with the FCA, your qualification provider and your employer.
Ways in
Different firms, different routes
There is no single way to become an adviser. Part of our job is understanding which route suits you, and which firms offer it.
Academy and trainee programmes
Structured programmes, often with study support, a set curriculum, shadowing and a clear path to advising under supervision. Some take people with no previous financial services experience.
Progression from within
Moving from paraplanning, administration or client support into an adviser role. Sometimes this is best done at your current firm; sometimes a move to a firm with a clearer path makes sense.
Supervised adviser roles
For people who are qualified, or nearly qualified, but not yet assessed as competent. You advise clients with an experienced supervisor reviewing your work.
Specialist first steps
Some people start in a related area, such as mortgages and protection, before broadening into investment and pensions advice. We can talk through whether this suits you.
Confidential. Considered.
What you can expect
Support from first conversation to first day
- An honest viewOf your readiness and options
- The right firmsWith trainee or supervised routes
- Interview preparationSo you can show your best
- Your consent firstBefore anything is shared
How we help
Support from first conversation to first day
- 1
A proper career conversation
We get to know your background, your strengths and what you want from a career in advice, and give you an honest view of your readiness and options.
- 2
Matching to firms that train and supervise
We introduce you to firms with trainee, academy or supervised routes that suit your experience, location and ambitions. We will always confirm with you that it is okay before your details are shared with any firm.
- 3
Interview preparation
What the firm is looking for, how to talk about your motivation and transferable skills, and what to ask them about supervision, study support and progression.
- 4
Staying in touch
We stay in contact through the process and after you start, so you always have someone to talk to.
Questions
Common questions about becoming an adviser
Do I need to be qualified before I apply?
Not always. Some firms recruit trainees who have not started studying, others prefer people who have passed some units, and supervised adviser roles usually need you to be qualified or close to it. Tell us where you are and we will be honest about which firms are realistic.
Do I need a degree?
A degree is not part of the FCA’s qualification requirements for advisers. Individual firms set their own entry criteria, and many value relevant experience and the right approach to clients at least as highly.
How long does it take to become an adviser?
It depends on how quickly you study, your starting point and how your firm structures training and supervision. We will not promise a timescale, but we can help you understand what a particular firm expects.
Can I stay in my current job while I study?
Yes. Many people study for the Level 4 Diploma alongside a support or paraplanning role, then move into a trainee or supervised adviser role when the time is right.
I am a mortgage or protection adviser. Is this relevant to me?
Very much so. You already advise clients in a regulated environment. Moving into investment and pensions advice needs further study, and some firms are keen to support people making that step.
Will you share my details with firms?
Not without asking you first. We will always confirm with you that it is okay before your details are shared with any firm.
Start here
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