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IFP looks at tactics against the CII’s charter

The Institute of Financial Planning will hold a board meeting next week to decide its plan of action against the Chartered Insurance Institute’s launch of chartered status.

The IFP is threatening legal action over the CII’s recent launch of a chartered financial planner qualification. Although the CII has been forbidden by the Privy Council to use the abbreviation CFP, the IFP says the CII is trying to undermine its own CFP accreditation for certified financial planners as users will inevitably abbreviate the CII award. It is also alleges that the Privy Council failed to inform the IFP about the application from the CII.

The IFP board will meet on November 14 to decide whe- ther the actions taken by the CII and the Privy Council were unfair and whether to demand a judicial review.

IFP lawyers are also discussing legal avenues under trademark law to get the CII to change the name of its chartered qualification. IFP chief executive Nick Cann says: “We need to conclude once and for all whether what the CII did was unfair but we also need to sit down with the CII to discuss how we can work together.”

But CII group public affairs director John Ellis says: “We are not changing our chart- ered status but the door is always open if they want to talk.”


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