Chartered Financial Planner

Chartered Financial Planner

The title Chartered Financial Planner is the most widely accepted "gold standard" qualification available for professional financial planners/ financial advisers in the United Kingdom. At the end of November 2010 there are over 2,000 individuals who hold the title Chartered Financial Planner. Over 300 firms can now boast the corporate equivalent as Chartered Financial Planners.

The titles of Chartered Financial Planner and Chartered Financial Planners ware granted by the Chartered Insurance Institute (CII). The Privy Council authorised the CII to issue the Chartered title in 2005. Thus, a Chartered Financial Planner now carries equivalent qualifications and other established professions such as Chartered Accountants and Chartered Surveyors, etc. Membership of the Personal Finance Society, the leading professional body for financial planners, is required to be able to use the professional designation Chartered Financial Planner.

The qualification fits into the National Qualifications Framework at Level 6, equivalent to a Bachelors (first) Degree.



To attain Chartered Financial Planner status as an individual, one must study for and pass approximately 10-12 exams in various aspects of financial services and related subjects. Each exam offered by the Chartered Insurance Institute carries a certain number of "credits" in their qualification scheme. Credits can also be granted for equivalent exams passed form other awarding bodies. A total of 290 credits is required before Chartered status can be applied for. This generally takes several years to achieve.

One is also required to have five years relevant professional experience, and to demonstrate ongoing learning by completing a certain amount of Continued Professional Development each year. In addition, one is required to be a member of the Personal Finance Society, the professional body for Financial Planners, part of the CII Group.

Corporate Chartered Status

In addition, firms that can demonstrate the highest commitment to professional standards can apply for Chartered Financial Planners status. At the end of November 2010 there were 300 firms authorised to use the title.

Retail Distribution Review

This is a still-in-progress review of the financial advice/planning profession begun by the UK regulator, the Financial Services Authority, in 2006. Among other aspects of the financial advice profession being reviewed is the level of qualifications historically and currently held by practising financial advisers. For about 25 years, the minimum standard has been only the Certificate in Financial Planning, formerly called the Financial Planning Certificate, which sits at only level 3 in the National Qualifications Framework, equivalent to an A level.

After various discussion papers and consultations, which are still ongoing, the FSA have stopped short of requiring advisers to obtain a Level 6 (degree level) qualification such as Chartered Financial Planner, and are to require advisers to obtain only a level 4 qualification (equivalent to the first year of a degree), and not until 2012.

Other Qualifications in the Financial Advice Profession

ISO 22222 Certification BS ISO 22222 Financial Planner Certification confirms a financial planner’s conformity to the international ISO financial planning standards. The Certification is a personal award and applies to individual Financial Planners. The standard defines six steps of the personal financial planning process:

Establishing and defining the client and personal financial planner relationship. Gathering client data and determining goals and expectations. Analysing and evaluating the client's financial status. Developing and presenting the financial plan. Implementing the financial planning recommendations. Monitoring the financial plan and the financial planning relationship.

Benefitsof BS ISO22222 certification: Demonstrates that a Financial Planner’s advice skills & knowledge have been benchmarked against an international standard The Financial Planner will receive independent validation of their skills Developmental feedback will be provided to the Financial Planner on both their technical & soft skills BS ISO22222 Certification assists in enhancing customer confidence in the Financial Planner’s abilities

An international qualification is Certified Financial Planner, or CFP, administered and awarded in the UK by the Institute of Financial Planning. CFP is a practical assessment of one's ability to put together a financial planning report of a certain standard. The CFP certification is part of global standard overseen by the FPSB ( and administered in 23 countries with over 126,000 CFP professionals around the world.

Equivalent titles Abroad

In the United States, the equivalent title to Chartered Financial Planner is Chartered Financial Analyst.


Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • Chartered Financial Analyst — Chartered Financial Analyst(CFA) Type Professional Organization Location Charlottesville, Virginia, United States Website …   Wikipedia

  • Chartered Financial Analyst — o Analista Financiero Certificado (CFA) designa una certificación profesional internacional ofrecida por el CFA Institute (anteriormente conocido como AIMR) a analistas financieros que consigan completar una serie de tres examenes. Para llegar a… …   Wikipedia Español

  • Financial planner — A financial planner or personal financial planner is a practicing professional who helps people deal with various personal financial issues through proper planning, which includes but is not limited to these major areas: cash flow management,… …   Wikipedia

  • Certified Financial Planner — The Certified Financial Planner (CFP) designation is a professional certification mark for financial planners conferred by the Certified Financial Planner Board of Standards, Inc. (CFP Board)[1] in the United States, Financial Planning Standards… …   Wikipedia

  • Financial adviser — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Em …   Wikipedia

  • Chartered Strategic Wealth Professional — The Chartered Strategic Wealth Professional (CSWP) designation is a professional certification conferred by Canadian Securities Institute, a Canadian financial education company that provides courses, programs, certifications, and designations… …   Wikipedia

  • Chartered Insurance Institute — Coordinates: 51°35′41″N 0°01′17″E / 51.594761°N 0.021271°E / 51.594761; 0.021271 …   Wikipedia

  • Financial Adviser — A professional who helps individuals manage their finances by providing advice on money issues such as investments, insurance, mortgages, college savings, estate planning, taxes and retirement, depending on what the client requests. Some… …   Investment dictionary

  • Independent Financial Adviser — Independent Financial Advisers or IFAs are professionals who offer independent advice on financial matters to their clients and recommend suitable financial products from the whole of the market . The term was developed to reflect a UK regulatory …   Wikipedia

  • Chartered Trust And Estate Planner — A professional accreditation offered by the American Academy of Financial Management. This credential provides an overview of the various types of trusts available and their appropriate use. It also covers the phases and parties involved in the… …   Investment dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”