Qualified Financial Adviser (QFA) is the gold-standard professional designation in financial advice for those working in Irish banking and financial services. Members who successfully complete the Professional Diploma in Financial Advice are invited to apply for the QFA designation.
The standard of competence that the QFA designation represents is deemed by the Central Bank of Ireland as meeting its Minimum Competency Code requirements in five categories of retail financial products.
The Minimum Competency Code applies to persons advising consumers on, and/or carrying out other specified functions in relation to, certain retail financial products.
Members retain the QFA designation by complying with the ongoing Continuing Professional Development (CPD) requirements. QFA designates are entitled to use the designatory letters 'QFA'. There are more than 16,000 QFAs currently in Ireland.
A QFA can join an elite worldwide brand by studying for the Graduate Diploma in Financial Planning. This is the only qualification in Ireland recognised by the worldwide Financial Planning Standards Board for its Certified Financial Planner (CFP) designation. At the end of 2015 there were 161,824 CFP professionals in 26 countries, including Ireland.