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UK chartered planners on the rise

The number of chartered financial planners in the UK has doubled in the past three years, rising 24 per cent in just the past year, according to figures released by the Chartered Insurance Institute (CII).

According to the figures, there were 3,513 individual chartered financial planners in the UK as at March 2013, up from 2,839 in March 2012.

The number of chartered financial planning firms is also up 24 per cent in the past year, from 404 to 502.

“We believe chartered titles have a big role to play in securing the successful development and reputation of the insurance and financial planning sector,” said a CII statement.

“Part of our role as a professional body is to ensure our members develop the highest standards of professionalism and to promote the fundamental values of professionalism to our members and the public.

“With more and more individuals taking on higher levels of qualification, we are optimistic about the future growth of numbers of chartered title holders, and the higher standards of professionalism this will reinforce across the sector.”

The figures come as the UK financial planning industry comes to terms with the implications of the FOFA-like Retail Distibution Review reforms.