How to gain Accreditation

Who should apply?

To become an Accredited Financial Planning FirmTM, your firm must demonstrate to IFP that it has a defined process for Financial Planning which is offered to clients as a key part of your service.

We define Financial Planning as "the process of developing strategies to assist clients in managing their affairs to meet life goals.”

We’ve developed specific criteria to identify firms that offer a full Financial Planning service and we will ask you to demonstrate that your firm meets the criteria on an annual basis. This will ensure our Accredited Financial Planning Firms'register provides consumers with a list of firms that offer a consistently high level of service and that they can understand and trust.

Our requirements

Successful entry onto the register requires that firms must demonstrate that providing a Financial Planning service is core to your business. Firms must demonstrate:

  • The clear provision of a full Financial Planning service for clients, including cashflow modelling.
  • That their Financial Planning proposition is clearly communicated and promoted to clients within their marketing materials.
  • Policies and procedures which are consistent with the IFP's Code of Ethics and Practice Standards.
  • A business structure which reflects a clear fiduciary responsibility to clients.
  • A consistent fee structure which is company-wide.
  • A clear and visible investment philosophy.
  • That all staff are aware of the firm's Financial Planning service and how it differs from financial advice.
  • The use of Paraplanner support.

Qualified staff

  • On application, at least 50% of the firm’s FSA registered advisers must be qualified as a CERTIFIED FINANCIAL PLANNERCM professional or Chartered Financial Planner (with AF5).
  • At least one director/partner of the firm must be a current CERTIFIED FINANCIAL PLANNERCM professional.
  • All advisers directly providing the Financial Planning service to clients on the firm’s behalf will have been tested on their Financial Planning skills at an advanced level or will be mentored/supervised by such an adviser.
  • All advisers will be members of a relevant professional body and agree to abide by that body’s Code of Ethics and Practice Standards.

Annual Fees

A fee is payable by the Accredited Financial Planning Firm to the IFP upon acceptance of application, and annually thereafter upon renewal. A fee of £750 per firm applies, plus £25 per FSA registered adviser (where individual is an IFP member) or £75 per FSA registered adviser (where individual is non-IFP member).