IFP to launch register of top financial planners

NO, No and No. Why invent the wheel and duplicate everything which is what will happen? It is an absurd implementation of a very sound concept which has been around in other industries for ages. ISO9000 is a quality control standard which could be extended to IFAs. Similar to ISO22222 I guess but at firm level (which is where ISO22222 fails as it is adviser focused). Needs to be ISO driven and it would reward firms like us who use outside consultants to conduct regular audits. Under ISO????? the standards inspectors that check for adherance to the firms procedures would be these compliance consultants and it would reward those firms that invest in quality, service, ethical principles and fair reward for staff, shareholders and clients. Why the FSA has not thought of this goodness knows.

What makes a Financial Adviser 'top'; is it just qualifications ? Does this make the firm or individual any more likely to give 'best advice' or should I say any less likely to give dubious advice !!! ?

Good luck to any client that rely upon this proposed register as being the 'be all & end all' to their due dilligence !!

What a totally stupid stipulation that the "firm" should have 50% of its advisers with a level 6 qualification in order for a single adviser to be included as a top financial planner! What on earth is the relevance of what any other adviser in the firm has or has not?

Instead of all this posturing and window dressing, why on earth are the 'proffessional' bodies NOT addressing the huge elephants in the room? I am a CFP (IFP member). It has good people in it and I respect them. But where were they on the unfair fscs levy? And where are they currently on the huge train wreck headed our way - the RDR obliteration of current qualifications? Huge problems - but instead they work on a register. It's just like mowing the lawn in the middle of an earthquake. Sort it out professional bodies!!!!!

This is a very poor idea. As a paid up member of the IFP if they introduce a selective list of members that excludes me I would be most unhappy.

If they are a professional body they must look after all their members interests, not just those who meet a select criteria.

Why not have a list of all members that details our qualifications and experience?

Bad idea - the CFP register is already a register of "top" advisers - they have to be both techinically competent & demostrate ability to apply their skills - CFP licence holders are the cream of the profession. This initiative will suggest that those CFP holders who don't make the top adviser definition will be a poor choice for consumers

I would prefer it if the IFP could somehow work to protect the title of Financial Planner, so that it becomes a recognised profession, rather than at the mercy of any bank or salesman etc.

Yep what does make a top financial adviser - chartered, champion, ISO's - I know some who seem to have all the qualifications and fail to run profitably and even offer subjective advice - they can study and seem to be able to talk the talk - but were is the substance - lets get a grip (oh and before you think its spilt milk I am adviser who is quite well qualified)

Like Simon I am Certified and Chartered and would question what makes you top? I would be unhappy if I was excluded by this on these simple grounds.

Ditto. Like Simon and Keith I am CFP and Chartered, but was not aware of the register, nor accreditation. Having paid my fees, I would rather hear about developments from my professional body, rather than reading about it in the press!!!

PFS has worked hard to get this right and has really raised its game as the leading professional body for advisers in the country; what is happening at IFP?