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CISI reports significant growth

CISI reports significant growth

The Chartered Institute for Securities & Investment has said its financial planning community grew "significantly" during 2018.

The CISI merged with the Institute of Financial Planning in late 2015 and has taken on the task of helping to grow the financial planning profession.

Simon Culhane, chief executive of the CISI, said: "Over the year our financial planning community has grown significantly on the back of three very successful events: paraplanner, accredited financial planning firms and financial planning annual conferences, with the latter attracting over 400 attendees and 45 speakers.

"The numbers in our Financial Planning Forum have jumped almost 50 per cent, showing clear interest and engagement in financial planning in CISI’s membership.

"We have also engaged with the Financial Planning Standards Board and other CFP affiliates internationally to share best practice and ideas and to support the growth and global recognition of financial planning and the Certified Financial Planner designation."

He said there had also been 15,000 visits to the CISI's dedicated Financial Planning Week microsite, with 91 financial planning firms offering free surgeries.

Mr Culhane said: "Pensions featured high on the general news agenda as the story of the mishandling of the British Steel Pension Scheme continued relating to the woeful financial advice received by its members.

"This again highlights the case for increased professionalism within the sector. It also relates to the FCA’s overhaul of the public register (we have been against its abolition since it was first announced in April 2016) and we know from the Work and Pensions parliamentary select committee hearing last year the difficulties steelworkers experienced trying to identify a qualified adviser."

damian.fantato@ft.com