View more on these topics

Record number of graduates at the PFS

Chartered status is on the rise as more PFS members qualify.


The Personal Finance Society says a record number of its members have graduated with qualifications at associate, fellowship and chartered level this year.

In total there were 1,570 qualifying members in 2013 compared to 747 qualifying members last year. Of those 1,570 who qualified, 56 per cent were awarded chartered financial planning status, 33 per cent qualified at fellowship level and 11 per cent qualified at associate level.

The rise in the number of qualifying members meant the PFS ran two graduation ceremonies in one year. Around 990 graduates attended the April and October graduation ceremonies which were split into five separate sessions over three days. The final ceremonies year took place at the CII Insurance Hall on 4 October .

Overall PFS membership has seen a 26 per cent increase in fellows over the last year to 30 September. There was an 18 per cent increase in chartered financial planners over the same period.

PFS chief executive Keith Richards says:”The sheer volume of graduates this year is evidence that an increasing number of individuals in the financial planning sector are seeing the benefits of further study and striving towards greater levels of professionalism.”

Highclere Financial Services partner Alan Lakey says: “I don’t want to be chartered or certified practise. I do what I need to do to practise in the areas I specialise in. For example I wanted to give advice on equity release so I did the equity release exams.

”Some people say that passing exams enhances your business and that’s fine. But that’s true only if you work in those areas, otherwise you’re passing exams just for the sake of passing exams.”



Steve Webb set to propose auto-enrol charge cap of less than 1%

The Government is set to propose a pension charge cap of less than 1 per cent in an effort to prevent people being automatically enrolled into poor value schemes. In May, pensions minister Steve Webb announced plans to cap charges in auto-enrolment default funds as policymakers look to hardwire scheme quality into the reforms. Since […]


FCA: Concerns remain over investment and protection sales incentives

The FCA says it remains concerned about the use of incentives in investment and protection sales and that issues which can lead to misselling such as product design and sales target are on the regulator’s “radar”. Speaking at the British Bankers’ Association’s annual international banking conference in London today, FCA chief executive Martin Wheatley said […]

Verena Ross - Esma - 700x450

Esma struggles with short-selling rules

The European Securities and Markets Authority has admitted it is finding it difficult to implement European regulation on short-selling due to a lack of clarity over how the rules have been set out. Esma, one of three regulators which aims to ensure consistent financial supervision across Europe, is overseeing the EU’s regulation on short-selling, which […]

Danny Alexander

Senior Lib Dems back Treasury legal challenges to EU rules

Senior Liberal Democrats have backed Treasury legal challenges to controversial EU financial services rules such as the bankers’ bonus cap. The UK has launched a series of legal challenges to EU rules this year on the financial transaction tax, short-selling powers and most recently the bonus cap. Britain’s role in the EU has been a […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm