IFP membership stalls in 2012
Closure of some large firms and RDR distractions hits member numbers
Member numbers at the IFP have been sluggish in the past year, with consolidation in the industry blamed.
Speaking in her opening address to the IFP conference, outgoing president Marlene Shalton said that while the institute has gained members it has also lost a number “some due in part to the closure or reduction of some large firms and a general consolidation of the adviser community”.
She added that “priorities have been elsewhere” for those advisers getting ready for RDR, which may have also hit adviser numbers.
There are currently 2,020 members of the IFP, including 960 certified financial planners and 48 accredited firms, but this is broadly in line with last year’s figures.
Nick Cann, chief executive officer of the IFP, added that he would be disappointed if in 12 months there had not been a really large increase in members.
He added that the organisation hopes to hit around the 2,700 member mark in a year’s time.
The organisation also highlighted its increasing focus on the paraplanning community, following the first paraplanner being appointed to the IFP’s board in Richard Allum.
Becky Taylor, the incoming president of the board, said that currently paraplanners do not have a representative organisation, with the IFP looking to fill this.
Shalton added, “It’s been widely acknowledged that the paraplanner represents one of the key roles within the financial planning business.
“Fully supporting all areas of the profession is key to our success and as we build our understanding the relevance and benefit increase at a similar rate.”