On its 25th anniversary, EFPA Europe has reached an unprecedented milestone: surpassing 100,000 certified financial advisors across the 13 European countries where it operates. This achievement is driven by the sector’s growing professionalization and the decisive role played by national EFPA associations. We spoke with Stefka Topalova, Executive Director of EFPA Europe, about what this moment means for the association and where qualified financial advice is headed in Europe.
Milestones & Growth
What does it mean for EFPA Europe to have surpassed the 100,000 certified advisors mark?
It’s a defining milestone that underscores EFPA’s role as the leading certifying body and standard-setter for financial advice professionals in Europe. It reflects the trust placed in EFPA’s certifications and the growing demand for ethical, well-trained advisors in an increasingly complex financial landscape. EFPA’s certification is appreciated across different segments and by financial entities and independent professionals alike.
What factors have been key to the exponential growth the association has experienced over the last decade?
EFPA’s growth has been driven by a combination of regulatory momentum, the rising demand of the market for professionalisation, and the launch of targeted certifications like the EFPA ESG Advisor. We’ve also invested heavily in continuous education and built strong partnerships with accredited training institutions across Europe.
What role have national delegations played in reaching this milestone?
National delegations are the backbone of EFPA’s brand and expansion. A huge and focused effort has been done locally and is continuing and gaining momentum. EFPA Spain, EFPA Italy, EFPA Poland, and EFPA Czech Republic have been outstanding contributors setting the example for all. EFPA also cherishes its bilateral agreements with the CII in the UK and the IOB in Ireland, allowing their certificate holders to obtain a double designation with European flavour. Last but not least, our cooperation with the FPSB in Austria and Germany is long-standing and fruitful. As EFPA is expanding to new horizons, this is mainly done through the active participation of its national reprsentations.
Adapting to New Challenges
How is EFPA evolving to adapt to new challenges in the sector, such as sustainability, digitalisation and artificial intelligence?
We’re embedding ESG, AI, and digital finance into our certification programs and ethical frameworks. By doing so, we ensure that advisors are not only technically competent but also equipped to guide clients through the sector’s most transformative shifts. EFPA also created a targeted ESG certification with two levels, and has recently designed a micro-certificate on AI and digitalisation.
Regulation & Investor Protection
EFPA has stepped up its involvement in the European regulatory debate. What messages, measures or actions do you consider to be priorities?
We advocate for proportionate, investor-focused regulation that enhances transparency, recognises the crucial role played by financial advisors, and improves access to advice without stifling innovation. This in EFPA’s opinion requires a stronger and more harmonised qualifications framework for financial advisors across Europe, and we use every opportunity to collaborate with policy-makers and supervisors offering EFPA’s expertise and 25-year experience on this subject. Our priorities include supporting the Retail Investment Strategy and contributing to the development of the Savings and Investments Union.
How does EFPA contribute to improving retail investor protection in a context where many savings remain in low-yield products?
EFPA-certified advisors help clients move beyond passive saving by promoting diversified, long-term investment strategies based on individual assessment of the client’s situation, objectives and risk profile. We empower professionals to bridge the gap between retail investors and capital markets, improving financial outcomes and resilience, and contributing to a better financial health of Europeans in the near future.
EFPA is also heavily invested in local and European initiatives aiming to improve financial education at all ages and to encourage citizens to seek advice — for example through pro-bono advice and free financial health checks. We have also started a large-scale financial wellbeing project which aims to diagnose the factors stopping citizens from investing their savings safely or planning for retirement, and to propose reasonable solutions to the problems identified.
“EFPA certification is a European benchmark of trust, competence, continuous training and ethical commitment in financial advice.”
Learn more about EFPA certification at efpa-eu.org