IOB has formalised an agreement with the European Financial Planning Association (EFPA) to allow Qualified Financial Advisors (QFAs) who are active IOB members to avail of the European Financial Advisor™ (EFA) designation in addition to their QFA designation.
The EFPA is the largest licensing, standard setting and certification body for financial planners and advisers in Europe.
All current QFA designates with IOB will be granted the European Financial Advisor™ (EFA) designation on January 1st, 2022 at no additional cost and with no requirement to undertake any additional exams or CPD.
The additional cost of the certification is covered by IOB on behalf of their members.
What is the European Financial Advisor™ designation?
The European Financial Advisor™ designation is offered by the European Financial Planning Association (EFPA). The EFPA is the largest licensing, standard setting and certification body for financial planners and advisers in Europe. The primary mission of the EFPA is to create common certification pathways across Europe.
What are the benefits of holding the EFA designation?
QFA designates who are active members of IOB now also hold an additional recognised European designation at no additional cost and with no requirement to undertake any further examinations or CPD. As a holder of the EFA designation, you are part of a European-wide community of financial advisors.
Are there additional CPD requirements for the EFA designation?
As a QFA designate, there are no additional CPD requirements for the EFA designation. By maintaining your CPD requirements for the IOB QFA designation, you will be entitled to use the EFA designation also. Failure to maintain your QFA designation will result in the loss of the EFA designation.
Can I display the new designation on LinkedIn, business cards and other marketing collateral?
Yes, from January 1 2022, IOB members can display the EFA designation.
Will I get a certificate?
Yes, in early 2022 you will receive a certificate confirming your EFA designation.
Are there additional requirements to practice in other European countries?
The EFA designation is not a legal qualification to practice in other EFPA member countries. For QFA designates who wish to relocate and practice in another European country, local exams, CPD and other requirements may apply. We recommend contacting the relevant EFPA member organisation for further details on local requirements.
What countries are members of EFPA?
12 countries are currently members of the EFPA. For a full, up-to-date list of member countries, visit the EFPA website.
I am an EFA designate from outside Ireland, how do I practice in Ireland?
An EFA designation obtained from another European country currently exempts holders from four of the six modules leading to the QFA designation. The two remaining modules included in the bridge programme are regulation and financial planning. For further information on attaining QFA certification as an EFA holder, please contact our customer service team at [email protected]
I want to opt-out of this new designation.
No problem! Please email us at [email protected] to let us know.