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Forum will mould future shape of ISO advice benchmark

A development forum has been set up to define the future shape of international financial advice delivery benchmark ISO 22222.

The forum held its first meeting last month at the London offices of consumer group Which?

Among the groups which atten-ded were the Financial Services Skills Council, the ifs School of Finance and Intelligent Pensions. The forum was established by Standards International and those who attended discussed various issues affecting ISO 22222, including consumer and international developments, the regulatory landscape and advisers’ views and needs.

The forum will meet twice a year, with the next meeting due to take place in June.

Financial Services Skills Council relationship manager Paul Marshall says: “The FSSC is pleased to be inv-olved in this useful exercise. We are committed to further enhancing financial advisers’ education, training and skills wherever possible and the ISO 22222 does just that. The forum provides the FSSC and many others, with an opportunity to have an input into how the Iso is taken forward.”

Development forum participant and Intelligent Pensions managing director Steve Patterson says: “Given the increasing importance of ISO 22222, it was refreshing to have the opportunity to engage in a genuine effort to involve various sectors of the financial services industry and beyond in the further development of this international standard.”

Finance and Technology Research Centre director Ian McKenna says: “International standards are always interesting but it is important to make sure that they recognise local issues and reflect the local environment. Given the work being done by the FSA, the Personal Finance Society and others, I wonder if there isn’t duplication here?”


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