Firms offering ‘advice’, must make sure their advisers meet minimum standards before they are allowed to give ‘advice’. The required standard is known as QCF Level 4. This is equivalent to the first year’s components in a degree course.

While not essential, there’ is a higher ‘gold ‘ standard known as ‘chartered’ status. This requires further study and the adherence to even stricter standards of behaviour.

Firms offering ‘guidance’ don’t have to comply with the same standards, but some do. That means it’s often the case that you’ll be dealing with someone as highly qualified as an adviser.

You can usually find information about qualifications on a firm’s website.