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CeFA is awarded by the IFS school of finance. FPC (now replaced by the CFP) is awarded by the Chartered Institute of Insurers.
These are both recognised regulatory courses and they are on par with each other with regards to the FSA and course content.
Advantages/disadvantages of each?
With CFP you have more exams but the syllabus is spread out over these exams so should be easier to revise for. You can only do the exams at set times with the CFP so its not as flexible as CeFA exams.
CeFA, on the other hand, has less exams but means you have to do twice as much work... especially in CeFA 3. However, you have the added flexibility of being able to take the exams at anytime and with Pearson vue exam centres all over the world you aren't limited geographically.
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