The first British Standard BS:8577 certified

IFA firm in the region

The first British Standard BS:8577

certified firm in the region

It’s not any one qualification that’s important

– it’s the combination that matters.

The minimum level of qualifications required to be a financial adviser is surprisingly low, and there’s a myriad of different exams, qualifications and accreditations, which can be very confusing.  Some are awarded to individuals and others to firms.  And then there’s all the letters that can be used after names…

Most assess technical ability in respect of specific subjects, whilst others test application of overall knowledge through case studies.  ISO:22222 and British Standards BS:8577 are different and held by a very small minority of individuals and firms.  They involve independent reassessments of all aspects of the advisory processes and the business every year.

Please read through the following slides for an introduction to the main qualifications and accreditations we hold.

Chartered Financial Planners

Chartered status is a symbol of technical competence and signifies a public commitment to professional standards.

Trusted Planning Ltd has ‘Corporate Chartered Status’.  Only 50% of a firm’s advisers must be Chartered Financial Planners to be eligible for Corporate Chartered Status.  All our advisers are Chartered Financial Planners.

The individual qualification fits into the National Qualifications Framework at Level 6, equivalent to a Bachelors (first) Degree, so a Chartered Financial Planner carries equivalent qualifications to other established professions such as Chartered Accountants and Chartered Surveyors.

British Standard BS:8577 Certified

Trusted Planning is proud to be the first firm in the region and the second nationally to achieve this coveted accreditation.  We’ve had it since its launch in 2012, and have passed all annual reassessments since, without a single non-conformity.

Trusted Planning’s processes and procedures have been designed to exceed BS:8577 and ISO:22222 standards.

The scope is broad, covering all advisory and business processes from delivery of advice and ongoing services to documentation & communication, data protection, and business risk mitigation.  Each year we must demonstrate that procedures are being followed and improved, and that we have acted ethically.  Our files and reports are scrutinised, customer feedback is reviewed, and we’re extensively interviewed.

ISO:22222 Certified

All our advisers have been ISO:22222 certified since we launched in 2009, having passed all annual reassessments without any non-conformities.

ISO:22222 is the only qualification that assesses the full advisory cycle from first contact with a prospective client to ongoing reviews.  It is broad in its scope and also covers areas not covered by other assessments such as data security, clarity of documentation and ethics.

Though this qualification applies to individual financial planners, it would be difficult to gain accreditation without robust business processes, in keeping with BS:8577.

Chartered Fellows of the CISI

Both directors are Chartered Fellows (Financial Planning) of the Chartered Institute of Securities & Investments, the UK’s leading securities and investment professional body.

To be eligible for this individual ‘level 7’ chartered fellowship an appropriate ‘level 6’ qualification must be held, a financial planning case study completed, an integrity test passed, and a minimum of 35 hours of continuing professional development (CPD) completed and logged each year for at least two consecutive years.

To retain their status, Chartered Fellows must abide by the Royal Charter, Bye-laws and Regulations, and uphold the Institute’s high standards as published in its Professional Code.  A minimum of 35 hours of CPD must continue to be logged each year.

Certified Financial Planners

Most financial advisers call themselves financial planners, but only a small proportion provide true overall financial planning in line with the standards required to obtain Certified Financial PlannerCM status.

It’s an international accreditation, acquired by passing a tough assessment involving production of a comprehensive plan based on a client case study. Good technical knowledge is a prerequisite, but it is primarily about application, including projecting how the plan is likely to pan out over the client’s lifetime.

It contrasts with and complements the Chartered Financial Planner accreditation which is gained by passing a series of examinations which, in the main, test technical knowledge i.e., attributes, rules & regulations, tax and other aspects in resect of specific subjects such as pensions, investments and life insurance.

The internationally recognised Certified Financial PlannerCM six-stage financial planning process forms the basis of our core service.

SIFA Professional Member

Trusted Planning was accepted as a SIFA Professional member in 2009, having been nominated by a leading solicitor practice and exceeded the strict entry requirements that were in place at the time.

SIFA provides support services focussed on IFAs that are part of or work closely with legal and accountancy practices.

SIFA provides us with a wealth of support geared towards professional IFA firms, whilst allowing us to remain completely independent and impartial.

Trusted Planning Ltd is an accredited member firm listed on the SIFA Professional Directory of Financial Advisers.

SIFA Professional is an Affiliate Partner working closely with the Law Society.

The SIFA Directory only lists firms which are trusted, free from the influence of third parties and who specialise in working with professional partners.

Resolution Specialist

Graham Waterworth is amongst the most experienced IFAs in the country in assisting with financial planning aspects of divorce and separation.

He is one of only thirty to forty Resolution accredited specialists in the UK.

Resolution is a community of family justice professionals who work with families and individuals to resolve issues in a constructive way.  It was founded in 1982 by a group of family lawyers who believed that a non-confrontational approach to family law issues would produce better outcomes for separating families and their children.

Resolution’s specialist accreditation scheme recognises financial advisor members who demonstrate a high level of skills, proficiency and experience in their work.  Only those who have the requisite experience and pass a tough assessment are awarded the accreditation.

Financial Vulnerability Charter

The Financial Vulnerability Taskforce is an independent representative body whose purpose is to promote greater understanding, encourage appropriate behaviours, and establish good practice in respect of the delivery of professional services to those who find themselves in vulnerable circumstances.

Vulnerability is something that can affect us all; through unexpected events such as illness, grief, loss of employment, divorce or even the sudden acquisition of wealth through inheritance or a lottery win.

While some issues can lead to permanent vulnerability, fortunately in most cases it is temporary.   When it happens, you need to be assured  that the professionals who support you fully understand its consequences and how best to continue to provide the highest quality service in these changed circumstances.

By committing to the Charter, we have committed to use our best endeavours to provide you with a service that recognises your unique circumstances and delivers the same outcomes that you would expect if you were not in vulnerable circumstances.