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Grandfather clock stops

Your very welcome leader article in Money Marketing of September 22 suggested that Fellows of the Personal Finance Society will be “grandfathered” as Chartered Financial Planners.

It is important to make it very clear that there will be no grandfathering in the awarding of the Chartered Financial Planner title. All those who receive it will need to be qualified to degree level.

It just happens that Fellows of the Personal Finance Society and some hundreds more members of the CII have already achieved the necessary qualification level of 290 credits, equivalent to about eight full AFPC units in addition to the FPC s they will be the first to be granted the title next year.

I would just add that Chartered Financial Planner may never be abbreviated. The Privy Council instructed us that it must always be used in full. We will therefore take action against anyone who abbreviates the title. It would seem to me that this cuts the ground from under the suggested conflict with Certified Financial Planner, which, of course rests on the incorrect assumption that both Chartered Financial Planner and Certified Financial Planner are capable of being reduced to acronyms.

John Ellis

Group public affairs director, Chartered insurance Institute’ London


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