Week Left For IFP Members To Give Views On CISI Merger


Members of the Institute of Financial Planning (IFP) have a week left to give their views on a proposed merger with the Chartered Institute for Securities and Investment (CISI)

Reactions are needed by next Thursday, 3 September 2015, from the 2000-strong membership. IFP Board members believe that the proposed merger would fully support their core strategic objective which is to accelerate growth of the financial planning profession for the benefit of UK consumers, whilst at the same enhancing the proposition for the current members.

President of IFP has laid out the case for the merger: “The IFP is an amazing organisation and community, and one that I am so proud to be part of.  I realise that change is never easy, but evolution is essential to stay strong and progress.  Following a recent and lengthy strategic review by the IFP Board, we consider that IFP would be an even more powerful influence on consumer outcomes as a result of joining with CISI.

“We see this proposed merger as a win-win for practitioners and consumers.  One of our key roles has always been to help the wider public recognise, but also embrace, the difference between Financial Planning, Financial Advice and Wealth Management.  Crucially, for IFP, is the development of the understanding and wider promotion of a real Financial Planning service for existing clients and for consumers more broadly.

“Whether or not this merger proceeds will depend on the feedback we receive from our members. We are embarking on a busy four week consultation which will involve webinars, face-to-face meetings and phone calls with members. Our priority is to ensure they have the opportunity to consider fully the proposals and have their say in what we believe could be a significant and positive development.”

She continued: “An important principle behind this proposal is that IFP members would continue to receive all the current benefits of membership plus the enhancements which would come from being part of a larger organisation.  These include lower membership costs for many members, increased access to relevant qualifications and CPD, and a route to Chartered status.

IFP confirmed that existing events, including the highly successful Paraplanner Conference and flagship Annual Conference, would continue. Also, financial planning qualifications and designations (including CERTIFIED FINANCIAL PLANNERCM Professional, Accredited ParaplannerTM, and Accredited Financial Planning FirmTM) would be supported.

A decision to proceed, or not to proceed with the merger will be based on member feedback.

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