It seems that, in one fell swoop, the Chartered Insurance Institute has completely undermined chartered status by allowing firms with just one chartered financial planner to oversee a firm which is then allowed to call itself a chartered financial planner practice.
It is not difficult to envisage a scenario whereby individual advisers with the entrant level of qualification are quite openly allowed to advertise to clients that: “We are chartered financial planners.”
How clients are expected to differentiate between the two is beyond me and this can only have the effect of completely devaluing the qualification the CII seems keen to promote as the pinnacle of the financial planning profession.
I am sure many chartered financial planners feel deeply let down by the CII over this matter and can see no real reason for it beyond a means of raising yet more cash for the CII.
A spectacular own goal, if ever there was one.
Chartered financial planner