Chartered Institute for Securities & Investment  

CISI moves towards chartered financial planner launch

CISI moves towards chartered financial planner launch

The Chartered Institute for Securities and Investment is a step closer to introducing a chartered label for financial planners, which members first called for in 2015. 

Speaking at the CISI Financial Planning Conference in Birmingham today (September 30) Michael Cole-Fontayn, chairman of the professional body, said the CISI was now ready to ask the Privy Council for permission to introduce a chartered designation specifically for financial planners. 

Chartered titles can only be handed out by bodies incorporated under Royal Charter and approved by the Privy Council, and the CISI must seek permission from the council before introducing any changes. 

Mr Cole-Fontayn said:"In 2015 many of the financial planning members asked CISI to look into obtaining specific charters in recognition of their hard work in passing global financial planning specific qualifications and assessments. 

"This, you felt, really demonstrates your ability to give comprehensive financial planning advice to the public. Behind the scenes we put wheels in motion with the Privy Council to do this." 

Mr Cole-Fontayn told the conference after nearly four years and a "pretty opaque process" the CISI was now ready to approach the Privy Council and urged members to vote in favour of the "positive" changes. 

He said: "We believe the Privy Council has told us they will look very favourably on our application to award Chartered Fellow Financial Planning and Chartered Financial Planning Firm designations." 

"But approval is dependent on you and your vote. I urge you to vote for the amendments to the CISI bylaws." 

In January 2017 FTAdviser reported the CISI had been in contact with the Personal Finance Society about sharing the chartered financial planner label, but the latter expressed scepticism about the value of opening chartered status to more bodies.

rachel.mortimer@ft.com 

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