View more on these topics

Aifa highlights gap between chartered and certified status

Aifa has criticised the retail distribution review for failing to recognise the gap in standards between certified financial planner and chartered financial planner status.

The trade body’s second issue paper calls for closer examination of the credit systems for both qualifications.

Aifa says to be a certified financial planner, candidates must belong to the Institute of Financial Planning, obtain a qualification at the Chartered Insurance Institute’s Diploma in Financial Planning level and undertake a case study assessment by the IFP.

The diploma of financial planning and the case study make up a total minimum of 152 credits.

Those wanting to obtain chartered financial planner status do not need membership of a professional body but must have the advanced diploma in financial planning, which requires 290 credits.

The paper states: “Both are credible and worthy designations but there would need to be clarity over the minimum qualifications required for PFPs and whether membership of a professional body would be mandatory.”

Cavendish Financial Management managing director Julie Lord says the two qualifications are equal as far as technical knowledge is concerned but the chartered financial planner qualification does not test advisers’ competence to produce a lifetime cashflow forecast or a proper financial plan for clients.

She says: “If advisers are going to call themselves professional planners, they need to be able to plan and unfortunately a lot of chartered financial planners do not know how to plan. The only qualification that tests their ability to plan is the certified financial planner qualification.”


LV= not convinced veggies are healthier

Animal Friends Insurance, the pet insurance specialist, is sacrificing a whopping 75 per cent of the commission it receives from its underwriter LV= to finance the life insurance discounts it now offers vegetarians and fish-eaters.

‘RDR could wipe out workplace pensions’

The current retail distribution review proposals would leave no advisers left to service workplace pensions, warn leading pension commentators.Syndaxi Financial Planning managing director Robert Reid and Pointon York Sipp Solutions chairman Geoffrey Pointon believe that the RDR proposals will squeeze out general financial advisers and leave middle-market occupational pension schemes in the cold.Reid considers the […]

Asset managers to host UK-wide seminar

Threadneedle, Thames River Capital, UBS Global Asset Management, Old Mutual Asset Managers and BlackRock Merrill Lynch Investment Managers are hosting Fund Solutions Seminars around the UK in September. The seminars will be held from 24-28 September at various locations and will cover the major asset classes of equities, bonds and property. Threadneedle UK Property Trust […]

The trend is nigh

As a teenager, I found myself working in an upmarket men’s boutique to earn an income. Many of the lessons learned there in terms of treating customers fairly still hold good in my present role. Working in the boutique created an interest in clothes and being up to date but stopped at me becoming a slave to the latest fashion.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm