There are now more than 500 firms and a record 3505 individual financial planners with chartered status in the UK.
The PFS revealed earlier this year that the proportion of chartered financial planners within its membership had exceeded 10 per cent for the first time.
Research carried out by Skandia in March indicated that up to 60 per cent of advisers are planning to achieve chartered status.
Chartered financial planning status can only be granted by the parent body of the PFS, the Chartered Insurance Institute.
Mark Hutchinson, head of marketing for the PFS, said: “Corporate chartered financial planners status is a symbol of excellence that truly sets firms apart from the competition.
“Chartered is highly recognised by consumers and is a brand that is inherently trusted. Individual chartered status is more about knowledge and capability, whereas corporate chartered status is a quality mark for corporate culture and ethics.”
Garry Hale, president of the PFS, said he expected the number of chartered planners and firms to “accelerate” now the industry is getting used to RDR.
Statisitics
500 firms - number of firms with chartered status
3505 - individual financial planners
10 per cent - proportion of chartered financial planners
Adviser View
Adrian Pickersgill, director and chartered financial planner at Birmingham-based Chatfield Private Client, said: “Having the status really helps for client referrals, which is how we receive the majority of new cases. It’s something people understand well. But the CII has to ensure it doesn’t become tarnished at any point.”
