IFP Merger with CISI Confirmed

Wed, 30/09/2015


The board of the Institute of Financial Planning (IFP) has voted to formally approve the merger with the Chartered Institute for Securities & Investment (CISI) with the completion date of 1 November 2015. 

Over the next few weeks, CISI will be working closely with the board and the IFP and FPSB UK teams in Bristol to transition.  IFP business continues as normal during this period.  This includes the IFP Annual Conference, which takes place 5-7 October for which there are record numbers of delegates attending.  Representatives from CISI will also be attending the event at Celtic Manor.

Rebecca Taylor FIFP, CFPCM, President of IFP comments “We’re excited that this merger is now going ahead. It represents a very positive step forward for IFP, CISI and the UK Financial Planning profession and provides significant opportunities for growth going forward. The IFP can be very proud of its achievements to date. We have brought Financial Planning from an unknown niche discipline, to the brink of a widely recognised and respected profession.  It is now time to take Financial Planning to a new level, to make it accessible to more people, and to integrate Financial Planning principles into mainstream advisory businesses.  With the combined strength of both the IFP and CISI we can achieve more than could ever be realised alone.  We have started to learn about the CISI through this process, meeting the individuals and understanding the culture.  Those individuals are like our own IFP team, passionate, knowledgeable and committed.   This combined expertise leaves us confident for the future of Financial Planning.  The members of both organisations are professional individuals, we will all benefit from learning from each other, in the open and sharing manner that the IFP is famous for.”   

IFP also announces that its Chief Operating Officer and Interim Chief Executive Steve Gazzard CFPCM will be stepping down from his position at the IFP with effect from today’s date. IFP CEO Nick Cann CFPCM , who has been on long term sick leave from his role since suffering a stroke in March 2013, has also left the business by mutual agreement.

Rebecca Taylor FIFP, CFPCM, President of IFP comments; “Steve has done an outstanding job for the IFP over the past seven and a half years whilst Nick has made a massive contribution to the success of the IFP since he joined the IFP in 1999. Both have played such an important part in driving forward the Financial Planning profession.

“The IFP Board and I wish to say a very big thank you to both Steve and Nick for the massive contribution they have made to the development of the IFP and the Financial Planning profession. Their strong leadership, commitment and enthusiasm for the Financial Planning profession and the IFP in particular have been so inspiring to IFP members, the Board and IFP staff alike. We wish them well for the future in whatever they choose to do.”

 IFP is moving into an exciting new phase.  Richard Lee, a senior project manager has been appointed to oversee the ongoing interaction between IFP and CISI.  

Richard is currently working from the IFP office in Bristol where he will support the IFP staff in conducting business as usual and also manage the transition of the business to CISI. He is a Chartered Accountant with more than 30 years experience, including 20 years of organisational change management and business transformation. 

Steve Gazzard CFPCM comments “I want to thank all those members and other supporters who have said yes to the many favours I've asked, and who have supported me personally. I am grateful for the support of IFP staff, humbled by their incredible commitment, and lucky to have made so many new friends. Everyone connected to the IFP can be proud of what it has achieved in developing the profession of Financial Planning, and I am thankful for the opportunity to have played a small part in that journey.”