The UK Institute of Financial Planning recorded a surplus of more than £60,000 off the back of new mandatory education standards in the advice industry.
The numbers follow a £22,000 profit achieved by the UK Financial Planning Standards Board (FPSB) – a body under the auspices of the IFP which has responsibility for awarding qualifications.
Income from education and qualification fees doubled in 2012 – from £163,000 in 2011 to £317,000 – since the introduction of new minimum education standards in the profession as engendered by the FOFA-like Retail Distribution Review.
At the same time, IFP salaries rose by 5 per cent in 2012, at a total cost of £772,000.
CountPlus firm AdviceCo has completed a tuck-in acquisition of Arch Capital, abs...
Banking and finance has been named as one of the sectors with the highest monthl...
EXCLUSIVE: Collapsed licensee Dover Financial is suing a number of former autho...
Get the latest news! Subscribe to the ifa bulletin
Copyright © 2020 Independent Financial Adviser
Get notifications in real time and stay up to date with content that matters to you.
