Applying for Chartered Financial Planners status
There are three principal requirements to meet:
- meet the definition of an organisation carrying on business as financial planners
- satisfy the eligibility criteria at application and on an ongoing basis
- 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 required.
The eligibility criteria covers a range of factors recognised as evidence of a commitment to professionalism.
The following criteria must be met in full:
- A minimum of one of the firm's board* members must personally hold the CII Chartered Financial Planner title.
- A minimum of 25% of your Entity's advisers must personally hold the CII 'Chartered Financial Planner' title.
- The entire board*, together with a minimum of 90% of customer-facing staff, must be members of the CII/PFS.
- 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.
- 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 available.
- 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.
*Note: where the principal business of the company or partnership is not financial planning and a specialist division has been created for the purpose of managing this part of the business, the CII may, at its discretion, recognise a member of the highest management team appointed to run that division.
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 directors
- Limited liability partnerships which have one or more corporate members
- Firms which have one or more corporate partners
Fees for corporate Chartered status
The fees reflect the costs to the CII in administering, monitoring and enforcing the Chartered scheme. Fees are payable annually (once your application has been approved and we will confirm the fee that applies) and again on annual renewal.
|Number of staff employed
|Up to 10
Further information and how to apply
Click 'Apply now' and/or the other links to the right for full details on the criteria and benefits of corporate Chartered status.