Advisers falsely claiming CFPTM status risk being taken to court and expulsion from the Institute, says CISI

By Lora Benson | Nov 27, 2017



In response to the latest Which? report on financial advisers publishing false credentials in online, paid-for listings services, Kevin Moore Chartered FCSI, CISI Global Head of Business Development said: “If we get to hear of any advisers falsely claiming to hold the CERTIFIED FINANCIAL PLANNERTM designation, or any of our designations, we will investigate this immediately.

“If subsequently we discover the adviser is fraudulently misrepresenting themselves we will take disciplinary or legal action against that individual and this could result in that individual losing their membership of the CISI.

“We would like to remind all CISI members and CFPTM professionals that they are personally responsible for updating all details relevant to their CISI membership, CFPTM designation or AFPFTM status listing on commercial listings websites which they themselves may have paid for and signed up to.

“All CISI members have to comply with the CISI Code of Conduct which requires members to uphold the highest personal and professional standards at all times, and act with integrity whilst seeking to avoid any acts, omissions or business practices which damage the reputation of their organisation or the financial services profession”.

“If UK consumers wish to check out if their financial planner is a CFPTM professional they can look at our CISI Wayfinder listing. This listing shows CISI firms who have achieved Accredited Financial Planning FirmTM (AFPFTM) status and financial planners holding the CFPTM license.

“Consumers can also search CISI’s global community of financial services professionals and verify their membership status via our Member Directory.”

Reports can be made about individuals who may be mis-using either the CFPTM or CISI designatory letters by emailing and providing details of the individual in question.