IFAP spotlights 'Chartered' status across web searches
‘Qualifications are a powerful marketing tool for the independent sector’
IFA Promotion has added a Chartered Financial Planner selection option to its core Find an IFA search engine, used by over half a million consumers a year. The addition of this feature to unbiased.co.uk and over 50 other online searches powered by IFAP is in recognition of the benefits of consumers being aware of this important new qualification, and able to find local independent financial advisers who hold it.
David Elms, Chief Executive of IFA Promotion, commented, “The Chartered Financial Planner status is a positive move for consumers. We want to help spread awareness of this qualification and what it means to anyone looking for independent financial advice. We also urge any IFAP members who haven’t yet told us of their chartered status to update us now, since this and other incremental qualifications are powerful marketing tools for the independent sector as a whole and to drive business for individual firms.”
Chartered Financial Planner status is achieved by an IFA attaining a minimum of 290 exam credits including 180 AFPC level credits; having five years’ relevant industry experience; adherence to the Chartered Institute of Insurers’ (CII) Code of Ethics and Conduct and a demonstration of at least three years’ Continuous Professional Development.
Recent research* from IFA Promotion reveals 71% of UK adults view additional qualifications as an important factor in choosing a financial adviser. Of these, 56% would prefer to see an adviser with additional qualifications in the product areas relevant to them, while the rest would look for advanced qualifications in general financial planning.
IFAP research** also shows that the internet is the first port of call for consumers researching financial advice, and over 90% of IFAP enquiries are dealt with online. So far, nearly a third of IFAP’s member IFAs have signed up to its Online Marketing Package, enhancing their individual online search entries, and making them stand out to potential new clients. IFAP also continues to expand its online marketing campaign on behalf of members, including high-profile PR and advertising, white label versions of its ‘Find an IFA’ and search engine optimisation.
Elms continued, “IFAs need to reflect their offering in the best possible light online, most importantly in terms of the information they supply to IFAP and how much they use our online dominance to drive relevant leads to their firm. Incremental qualifications, including Chartered status, are a very strong way of demonstrating your firm’s commitment to quality advice, particularly when you consider that nearly a quarter of our enquirers now specify an incremental qualification when choosing an IFA.”
IFA Promotion also reports a 72% year-on-year surge in the number of additional qualifications held by individual IFAs listed on its database, up from 10,920 to 18,795.
IFAs interested in finding out more about the various incremental qualifications on offer can download IFAP’s free IFA guide from the ‘IFA’ section of www.unbiased.co.uk
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*Sources: YouGov survey of 2166 UK adults in May 2006 and aggregated consumer selection data from IFA Promotion.
** Ipsos MORI survey of UK adults, January 2006
For further information please contact:
David Elms | Chloe Mann |
Chief Executive | Lansons Communications |
IFA Promotion | 020 7294 3681 |
020 7833 3131 |
For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on
020 7294 3682 or search online in ‘Media’ at www.unbiased.co.uk
1. Independent Financial Adviser Promotion
IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents around 9,000 firms of independent financial advisers across the UK and is sponsored by 31 leading financial institutions. In the past 12 months, over 530,000 consumers and businesses used IFA Promotion to find local independent financial advice.
IFA Promotion believes Independent financial advice should be:
Affordable. The option to take independent financial advice should be available, by right, to all- not just the wealthiest in society.
Convenient. IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.
Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.
2. Independent Financial Adviser Promotion’s sponsors
Aberdeen Asset Management | Mortgage Express |
Abbey | National Savings & Investments |
AXA Life | NatWest Business Banking |
Bright Grey | New Star Investment Funds |
BUPA Health Services | Norwich Union Life |
Canada Life Ltd | Prudential |
The Children’s Mutual | Scottish Equitable Plc |
Clerical Medical Investment | Scottish Life |
Defaqto | Scottish Life International |
Friends Provident | Scottish Widows Plc |
GE Life | Skandia UK Group |
GMAC Residential Funding | Standard Life Assurance Company |
INVESCO Fund Managers Ltd | Unum Provident |
Legal & General | Webline Limited |
London Mortgage Company | Zurich Intermediary Group |
Lincoln Financial Group |
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