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27 Nov 20
What is Chartered Status and Why is it Important?
By choosing True Bearing, you will be working with one of the North West’s most respected and well-qualified financial planning firms.
We were awarded the prestigious corporate Chartered status by the Chartered Insurance Institute (CII) in 2010. We are proud to have retained this Chartered status for the last ten years, proof of our ongoing commitment to professional development, providing excellent service and advice to our clients.
What is the Chartered Insurance Institute?
The Chartered Insurance Institute is a professional body dedicated to building public trust in the insurance and financial planning profession.
“The CII exists to secure the trust and confidence of the public. Corporate Chartered status represents the benchmark of good practice – demonstrating a firm has made a commitment to a published code of ethical practice, to provide knowledgeable advice backed up by qualifications and CPD, and to seek good customer outcomes.”
Melissa Collett, Professional Standards Director, Chartered Insurance Institute
What is Chartered Status?
The Chartered mark is a symbol of technical competence and signifies a public commitment to professional standards. By the end of 2018, just 709 Independent Financial Advisory firms out of a total of 4791 had been awarded Chartered Status. This places us in the top 15%* of IFA firms by qualification in the United Kingdom.
In order to receive Chartered Status as a firm of Financial Planners, over 50% of advisory staff must hold Individual Chartered Status, including one board member. Individual Chartered status is obtained through achieving the Advanced Diploma in Financial Planning or Fellowship of the Personal Finance Society, membership of the Personal Finance Society and five years of relevant sector experience.
The status is reviewed by the CII annually. We must provide proof on a yearly basis that we are still eligible to hold the title and that we are adhering to the CII code of ethics.