CISI commits to £35k financial planning advertising spend


The Chartered Institute for Securities & Investment has committed to spending £35,000 per year on promoting financial planning following its merger with the Institute of Financial Planning.

The £35,000 pledged by the CISI is in addition to the £35,000 the IFP currently spends on marketing its accredited firms brand, which it will continue to do post-merger. The IFP does not set aside any other funds specifically for advertising.

CISI director Richard Wastcoat told delegates at the IFP’s annual conference in Newport today the organisation has already taken out “large scale” adverts to publicise the merger.

The CISI also confirmed that 17 of the IFP’s 22 branches will be merged with CISI branches. It plans to keep open the remaining five IFP branches.

The proposed merger was announced in August and is due to complete on 1 November.

Outgoing IFP President Rebecca Taylor told the conference the merger marks “the end of an era”.

She said: “It will be different but I no longer want to be part of an organisation that is the industry’s best kept secret. We can become the organisation that people really listen to, including the regulator.”

At the IFP’s annual general meeting yesterday, Forty Two Financial Planning director Alan Dick formally took over the role of president from Taylor, who has come to the end of her three-year term.

Under the new leadership structure following the merger, Taylor will sit on the CISI’s board, while Dick will chair its financial planning committee.

The IFP has also elected Farida Hassanali to its board as a director. Hassanali is a senior technical consultant at wealth manager EQ Investors, and takes over from Compliance and Training Solutions director Melony Holman, who is stepping down from the board.

Hassanali has been co-chair of the IFP’s London branch since 2014.

Taylor says: “I welcome and congratulate Alan in taking over as president. His enthusiasm for the IFP and for financial planning is infectious and I know he will do an excellent job.

“I’m also delighted that Farida is joining the IFP board. She will add to an already very strong team as we begin this exciting new chapter in the development of the UK financial planning profession following the merger with the CISI.”