The financial advice industry has been through a period of
dramatic change. Standards have been raised, and organisations that
are looking to stand out from the crowd need a way to distinguish
themselves. For organisations committed to excellence, Chartered
status brings the recognition they deserve.
The Chartered Financial Planners title:
- Demonstrates commitment to professionalism - by
recognising ethical practice, knowledge and skills throughout the
- Helps attract and retain the best staff
- Identifies you as part of a leading group of ambitious
Applying for Chartered Financial Planners
There are three principal requirements to meet:
- meet the definition of an organisation carrying on business as
- satisfy the eligibility criteria at application and on an
- pay an annual fee.
In addition to the eligibility criteria detailed below, there
are general conditions which must be met by all applying
entities, one of which is that to be considered for corporate
Chartered status evidence of three years pre-application trading is
The eligibility criteria cover a range of factors recognised as
evidence of a commitment to professionalism. Six compulsory
criteria must be met in full and a range of discretionary criteria
makes up the remainder.
These six criteria must be met:
- A minimum of one of the firm's board* members must personally
hold the CII Chartered Financial Planner title.
- One of the firm's board* (who must personally hold the
Chartered Financial Planner title), must take on the role of
Responsible Member. This person is the principal point of contact
on Chartered status with the responsibility for the application,
renewal and for any related issues at any stage.
- The entire board*, together with a minimum of 90% of
customer-facing staff, must be members of the CII/PFS.
- A full financial planning service must be offered (in the case
of a specialist advice firm a satisfactory referral procedure must
be in place) and access to a Chartered Financial Planner must be
- The firm must have in place core values and business practices
that align with the CII Code of Ethics.
- The firm must have an appropriate professional development
programme in place.
The discretionary criteria works on a points basis, with a
minimum of 50 points overall required.
|Percentage of board* individually
holding the Chartered Financial Planner title (subject to the
specified requirements Chartered titles from other awarding bodies
will be recognised)
Percentage of board* individually holding the CII Diploma in
Financial Planning (or comparable qualifcation such as the Advanced
Financial Planning Certificate)
|Percentage of financial advisers
individually holding the Chartered Financial Planner title
|Percentage of financial advisers
individually holding the CII Diploma in Financial Planning (or
comparable qualification such as the Advanced Financial Planning
|50% and over of non-advisory
customer-facing staff individually holding a CII qualification
|Potential recognition of
additional rationale to support the Chartered application detailing
relevant processes which are not already included in the criteria
above. Typically this would include the attainment of objectively
assessed awards such as Investors in People or appropriate ISO or
BSI certification or the operation of a government approved
apprenticeshp programme. The provision of these discretionary
points is subject to such awards or certification being current
when applying or renewing CCS.
*or Appropriate Management Team - where the principal
business of an entity is not financial planning and an
unincorporated specialist division has been created for the purpose
of managing this part of the business, the CII may at its sole
discretion recognise a suitably qualified member of the Appropriate
Management Team as complying with this provision.
Please note: Applications for corporate
Chartered status will no longer be accepted from applicants who
fall within the following categories:
- Sole traders
- Limited liability companies which have one director only
- Limited liability companies which have one or more corporate
- Limited liabuiity partnerships which have one or more corporate
- Firms which have one or more corporate partners
The corporate Chartered status Guidance documents are currently
being updated and the revised versions will be available
Fees for corporate Chartered status
The fees for corporate Chartered status have been held since the
scheme's original launch in 2007.
They reflect the costs to the CII in administering, monitoring
and enforcing the Chartered scheme.
|Number of staff employed
|Up to 10
Fees are payable annually (once your application has been
approved and we will confirm the fee that applies) and again on
Further information and how to apply
now' and/or the other links to the right for full details on
the criteria and benefits of corporate Chartered status.