PFS: Chartered financial planners exceed 3,500

The Personal Finance Society has revealed that for the first time the number of chartered financial planners has exceeded the 3,500 mark.

As at 28 February 2013, the PFS said there were 3,505 chartered financial planners, which it said “indicates an encouraging start” to the year for the chartered profession.

With just over 34,000 members, this also means that over 10 per cent now hold the chartered title.

In June 2012 the PFS announced that the chartered title for individual financial planners had reached the 3,000 mark, suggesting a strong end to 2012 and beginning of the new year as financial planners look past QCF level 4 to the next level.

The number of chartered financial planners has risen from 2,832 this time last year and almost quadrupled since February 2007 when there were just 905 chartered financial planners. The chartered financial planner title for individuals was launched in 2005.

There are equally positive signs for the corporate chartered financial planner title, with the number of chartered financial planning firms in the UK currently standing at 498 as at 28 February 2013.

Chartered financial planning status, both individual and corporate, is granted by the Chartered Insurance Institute, of which the PFS is the membership body dedicated to those working within the financial planning profession.

Fay Goddard, outgoing chief executive of the PFS, said: “Our mission at the PFS has always been, and continues to be, to lead the financial planning sector towards higher levels of professionalism; therefore I am thrilled we have reached this significant milestone.

“It is a testament to the hard work of the PFS’ chartered members that the chartered financial planning title remains stronger than ever, especially considering the reforms that have taken place in the financial planning profession over the last few years. I am looking forward to seeing the PFS chartered membership continue to go from strength to strength in the years ahead.”

Earlier this month the PFS announced that Keith Richards will succeed Ms Goddard as the PFS chief executive in May 2013.