What Is A Chartered Financial Planner?

There are several titles which can be achieved in Financial Services, but what is the importance of being chartered and what does it precisely mean?

How RDR Rocked the Financial World
On New Years Eve 2012 a new mode of Financial Planning was born. The Retail Distribution Review (RDR) was introduced by the FSA (now called the FCA) to “aim to improve the quality of advice, reduce mis-selling and, in the longer term, improve the level of consumer confidence and build general levels of trust in advisers.”In short, Financial Planners must make their fee structures clear and transparent and place the clients needs at the heart of everything they do. Financial Advisers agree that to survive in todays industry they must be at the top of their game; they must be knowledgeable, ethical and stand out from the crowd.

Why Efficient Portfolio are Chartered
At Efficient Portfolio, we have worked on a fee-based structure for over 5 years, so the effects of RDR have not really affected us. We have always operated on a transparent level, where the clients needs are placed at the centre of what we do. However, we also recognise that in todays world of finance, we must strive to be the best and provide the very highest level of service to our clients. That is why we have worked tirelessly to achieve Chartered Financial status.

What is Chartered Status?
The title of Chartered Financial Planner, awarded to Charlie Reading and Efficient Portfolio, demonstrates our commitment to raising our standards of knowledge and capability. It also enables us to show how we operate on an ethical and unbiased level. Chartered status is the industrys Gold Standard and is only awarded to firms and individuals who can demonstrate their commitment to continued development, ethical practice and supreme levels of client service. Chartered Financial Planner now carries the same denotation of professionalism as Chartered Accountant and Chartered Surveyor.

How is Chartered Status Achieved?
So how did Efficient Portfolio achieve this? Well, the answer is far simpler than the actual process! Achieving Chartered status took a great deal of time, determination and hard work. Not only did Charlie have to pass over 10 separate examinations on a broad spectrum of financial subjects, he also had to demonstrate ongoing and continued professional development. The firm was also subject to stringent checks, to ensure that our ethics policy and customer care was of an elite level. Not only that, but we had to show that we had been using this structure for over 5 years. As you can see, the process was certainly not quick!

What is the Benefit to You?
But all of that work has helped us in achieving our ultimate goal; becoming Chartered and ensuring that we are operating with integrity and providing an excellent level of service for you, our clients. So why does this benefit you? As a client, using a Chartered firm for your Financial Planning needs is a safe bet. Due to the strict regulations that Chartered firms live by, you can be safe in the knowledge that you are receiving service from some of the most knowledgeable, experienced and ethical professionals in the industry. Your interests will be at the heart of all of your financial planning, so each plan is bespoke to your personal hopes and dreams. Chartered firms must continually develop themselves, so the planning you receive will reflect contemporary legislation and will be forward thinking in its approach. Put simply, using a Chartered Financial Planner you will be receiving a service committed to excellence.

What is the Benefit to Us?
It is not just you who benefits. As a Chartered firm we are able to distinguish ourselves from our competitors. We are the first financial planning firm in Rutland to achieve this accolade, and we are delighted that our clients are receiving the only Chartered Financial Planning service in the county. This title, and the work ethic that is intrinsic to it, helps us to attract and retain the best staff. Our clients are the single most important element of our business, so being able to provide them with the best service from the best people is paramount to our company.

Chartered status is not just a title; it is a symbol of elite professionalism, exceptional knowledge and ethical practice. It is not just important to us; it defines who we are and what we do. If you want to receive the very best financial planning, make sure you seek the help of a Chartered firm.

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For Financial Advisors this is the Chartered Insurance Institute, where you will find Efficient Portfolio listed in their Financial Services Register https://register.fca.org.uk/