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Sesame firms want chartered status

Two-thirds of Sesame members say IFAs need to attain chartered financial planner status if they are to be seen as professionals on a par with accountants and solicitors.

In the latest Sesame member survey, 66 per cent of the 300 respondents agreed that the industry needs to move towards chartered status to improve its professionalism.

Sesame says the reason the public does not rate financial advice as highly as other professions could partly be down to a lack of understanding of the value of advice and chartered status could help add- ress that problem.

Seventy-six per cent of Sesame members say the public needs a better understanding of what financial advice is trying to achieve.

Chief executive Patrick Gale says: “It is important that advice from financial advisers is seen to have the same value as that of accountants and lawyers but that is not yet how the public sees it. Chartered status has the potential to help start to redress the balance and it is encouraging that our adv- isers clearly agree with us.”

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