Exempt Professional Firm (EPF) licence and Insurance Mediation Activity (IMA) licence
A DPB licensed firm can provide advice on investments (an EPF licence) and insurance mediation (an Insurance Mediation Activity (IMA) licence) to business clients only, where the business is incidental to their core professional practice. For example, this might include providing advice to trustees of pension schemes and employers.
Authorised Professional Firm (APF) licence
If your firm recommends the purchase of specific investments (eg pensions, listed company shares) or approves financial promotions or gives advice to individuals, they will need a licence from the Financial Conduct Authority either in the form of a full FCA licence or an APF licence from the IFoA.
All firms licenced by the IFoA as a DPB must hold a minimum level of professional indemnity insurance.
For more details, please view sections 6.18 to 6.30 in the DPB Handbook.
For more details, or to make an application or enquiry, please email or write to the DPB Manager
DPB Manager, Institute and Faculty of Actuaries, Level 2 Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA