View more on these topics

Charter marks a major milestone

The IFA sector has been placed on a par with accountants and lawyers with chartered status granted by the Privy Council, says the Chartered Insurance Institute.

The CII is hailing the news that it can now award the title of Chartered Financial Planner as possibly the industry’s most significant milestone ever. It says the new qualification will act not only as a target for individual advisers but should also be seen as a coup for the industry as it is now on an equal footing with other chartered professions.

Non-chartered advisers will also benefit from the halo effect of the qualification, says the CII.

But rival body the Institute of Financial Planning says the requirements to entry – which demand at least three years study – are too high for most IFAs. The CII anticipates that around 1,000 advisers will qualify in the first year.

CII deputy director general Bob Bullivant says: “This qualification is wider than just a professional exam. This is offering financial services the equi- valent of an internationally recognised kitemark, confirming professional standards.”

IFP chief executive Nick Cann says: “This might be a bridge too far for some IFAs although we will endeavour to work with this. Those with too much knowledge often have no link with their clients.”

Grant Thornton private client services financial planning national director Ann Bristow says: “The IFP’s certificate and the chartered qualification are two entirely different things and could bring public confusion, so the titles probably need sorting out.”


CA calls for investigation into PPI

Citizens Advice is calling on the Office of Fair Trading to launch an investigation into payment protection insurance, which it says is at best bad value and at worst missold to vulnerable people. Citizens Advice is making a super compaint, which means legally, the OFT has to respond within 90 days.

A new approach on HIV

ABI statement of best practice Aegon head of underwriting & claims Matt Rann outlines imminent changes to applications

Egg to set aside spending money

Egg is offering what it claims to be the UK’s first dedicated spending account. Monthly spending money – after outgoings – is taken from their account and placed into an Egg money account which pays 4 per cent gross variable interest on balances from 1 to 99,999 and 1 per cent cashback on purchases guaranteed […]

FSA attacked over ‘flawed’ T&C plans

The FSA’s proposals for cutting back on training and comp-etency is flawed, says the Securities & Investment Institute, which argues that long-term damage will occur if exams in the wholesale sector are removed. The regulator’s recent T&C proposal, CP 05/10, sets out to reduce costs and bureaucracy while focusing on retail consumers but the SII […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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