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 application and thereafter 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.
Make sure that you can fulfil all of the requirements set out below, submit the form and required evidence to the IFP and we will be in touch within ten working days. Also, please use our Accredited Firm's Guide to help you complete your application.
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.
- A consistent fee structure which is company-wide and communicated clearly to clients.
- 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 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.
- On application, at least 50% of the firm’s FCA 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.
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 FCA registered adviser (where individual is an IFP member) or £75 per FCA registered adviser (where individual is non-IFP member).