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CII revenue up 7%

The CII Group has reported a 7 per cent growth in revenue in 2008 to £30.3m, up from £28.4m in 2007, and a rise in net profit to £1.9m from £1.0m.

The group also saw a 2 per cent rise in membership to over 93,000 members.

The CII says there has been a 60 per cent increase in diploma in financial planning exam sittings year on year.

CII chief executive Alexander Scott says: “These are another good set of financial results including growth in every area of our business. It is widely recognised that during periods of economic downturn people do tend to focus on their personal development and try to increase their perceived value by undertaking more qualifications and training.

“This provides us with a strong base in which to support members through this difficult time and to maintain our work to raise professional standards across the profession and to further enhance CII activity to facilitate this. We are noticing a strong beginning to 2009 but we are exercising suitable caution due to the unstable environment.”


Everyone’s a critic

Towards the end of the 1990s, if – and, more often than not, when – a taxi driver asked me what I did for a living, I would answer that I was a financial journalist. “Oh yeah?” the taxi driver would invariably reply. “How’s that different from a normal journalist?” And I would explain: “I didn’t kill Princess Diana.”

I predict an unworkable scheme

Just how much worse can the FSA’s endless stream of new initiatives be allowed to get? The replacement of regulation by hindsight with regulation by predictions handed out by overpaid and underqualified people with no experience of running a business, much less being an IFA, is positively Kafkaesque. There really is no other appropriate term. […]

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