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IFP threatens legal fight on CFP letters

The Institute of Financial Planning is threatening legal action over the use of the letters CFP by the CII.

The IFP says the CII’s decision to launch its chartered financial planner qualification und-ermines its own certified financial planner accreditation.

At its AGM last week, IFP president Ian Shipway pledged to do whatever necessary under trademark law to “protect the integrity of the CFP mark”. He accused the CII of deliberately creating confusion with the launch of its chartered financial planner status and said people were already referring to both CII and IFP qualifications as CFP despite the Privy Council banning the CII from using the abbreviation.

IFP solicitors have written to the Privy Council demanding that it comes up with a different name.

Shipway says: “I have little doubt that those who were responsible for deciding on these titles knew exactly what they were doing.”

But CII group public affairs director John Ellis says: “We have made it clear we never wanted the qualification to be abbreviated as it loses its power.”

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