The Chartered Insurance Institute has received confirmation from the Privy Council it can now award the title of Chartered Financial Planner.
The CII says this is possibly the most significant milestone achieved for the qualification standards of the financial services industry, not only on an individual basis, but in raising the professional standing of the
industry putting it alongside other chartered professions, with the support of professional body.
The new qualification is expected to draw in new blood to the industry, offering a clear career path, while giving existing IFAs a higher benchmark to work towards.
The Institute says the exam is key in moving towards the industry’s wider confidence issue, of advisers and consumers alike.
CII president Peter Hales says: “The establishment of Chartered Financial Planner status introduces a new, internationally recognisable benchmark of
quality and ethical practice for professionals involved in giving financial advice.
It will signal to the public that financial advisers and financial planners are “fit for purpose” and elevate financial services in the public eye to the same standing as other Chartered professions. It will also be a major contributor to raising levels of consumer confidence in the financial services industry.”