WOULD you know your ASPC from your CFP? Your IMC from your MAPC? As with any profession, financial advisers will often list an alpabetti spaghetti string of letters after their name. At first glance, these letters will tell you little - and chances are you will still doubt their value.

But, as the number of investment, mortgage, pension and insurance products multiply and financial decision-making becomes increasingly complex, more people are seeking expert help to guide them through the maze.

"Whilst all independent financial advisers [IFAs] should have a good grasp of general financial planning through the compulsory basic level exams, many people will, rightly, set stock by what additional training and qualifications an adviser may have under his or her belt of relevance to their individual planning needs," says David Elms, chief executive of IFA Promotion, which has just updated its guide on IFA qualifications.

The regulator, the Financial Services Authority, requires all financial advisers to pass an exam known as the Certificate in Financial Planning (or equivalent), before they are allowed to practise.

The qualification, which succeeded the Financial Planning Certificate (FPC) in January, is a basic level qualification. Candidates now have to pass five papers - as opposed to three previously - taking an estimated 40-80 hours' study each, with successful students able to use the designatory letters CertPFS.

After that, there is an array of advanced qualifications. Having letters after your name is, of course, no guarantee of intelligence or professional ability; many leading independent financial advisers have secured their position through years' experience, rather than a string of qualifications.

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