But how did the IFP grow from very humble beginnings in 1986 to become the leading source of professional support for Financial Planners in the UK.

The IFP was born in 1986 - the same year as “Big Bang” which marked the liberalisation of the City of London financial markets when whole tiers of old rules and practices were swept away. In that year the IFP was set up by a handful of people as a UK equivalent for the International Association for Financial Planning.

It was unusual in being completely independent of any other body and was led by Paul Etheridge MBE, CFP^CM, also a founder of Prestwood software which is still used by many Financial Planners and IFP members today.

Mr Etheridge said that while lots of things have changed in the past 25 years one thing has remained constant: the IFP’s vision. He said: “The _{vision of the IFP has always been to create a professional body that would encourage the development of comprehensive, ethical and impartial personal Financial Planning and associated services.”}

_{But the vision needed cash and a way of becoming reality, hence the reason he called like-minded individuals together for an open meeting. Mr Etheridge, still officially member number one, recalled how the initial funding for the group came from his wife and his PA collecting cash in wastepaper bins at the end of the meeting calling for a new type of Financial Planning profession and which raised £580. A group of enthusiasts then used this modest sum to set up in a small office in Hereford with Richard Denyer as the sole member of staff.}

_{In its own timeline the IFP recalled: “The start was very rocky indeed and resources were extremely tight. We were an obvious target for those who either wanted our name, wanted to pay lip service to our philosophy or who disliked competition. It is credit to the board of the time, and subsequently, that such pressure was withstood and the Institute remains independent.”}

_{The next step was to establish regional branches around the UK to encourage members to join the IFP and offer Financial Planning to their clients. Mr Etheridge said: “This was a challenging development at the time when most financial services revolved around the sale of insurance and investment products.” One of the first aims of the IFP was to offer an exam for Financial Planners to gain an official qualification. The first exams were called the Financial Planning Exams, developed by a college in Atlanta, USA, and candidates who passed all modules became Associates of the IFP. However, in 1991 the College transferred exam rights to The Chartered Insurance Institute due to low demand.}

_{Mr Etheridge said: “It was anticipated there would be a huge demand for financial education following the passing of the Financial Services Act in 1986. This demand did not develop as fast as expected and it became clear that the enterprise was not going to achieve its target.” The IFP then decided it would be better to offer its own exams and began working with David Kerridge from the University of the West of England. The result was called Associateship Exams and these are now used by members as the basis for Fellowship Examinations.}

_{In 1995 the IFP secured the right to offer examinations and courses leading to Certified Financial Planner}^CM _{certification, the globally recognised Financial Planning qualification. Mr Etheridge said: “This was a major achievement and it was a proud moment when Kate [Gill] and I signed the relevant documents in Paris.”}

_{Being made a “sole UK affiliate to the international CFP council” meant the IFP could offer CFP exams for a three year probationary period. By 1999 over 100 people were recognised as CFP}^CM _{professionals and the exams have been used by the IFP ever since. Lucy Courtenay, qualifications director at the IFP, said the status had been instrumental in guiding the direction of the IFP ever since. She said: “Our members are very interested in education. Take-up of our exams and training is high and technical sessions are well attended. On our LinkedIn page, threads about education and training are well-read by members.”}

_{But not only is the IFP keen to help Financial Planners gain skills and qualifications, it is also keen to help Paraplanners. An individual Paraplanning certificate was being considered as early as 2001 but it was not until 2010 that the official Certificate in Paraplanning was launched. At the launch, IFP chief executive Nick Cann said: “I am very excited by the prospect that we will now see a thriving Paraplanner community develop and the IFP looks forward to serving all the professional requirements of Paraplanners.” Paraplanning is increasingly being recognised as a career in its own right and there is now an annual IFP Paraplanner conference as well as dedicated track and networking sessions at the IFP Conference.}

_{Sue Whitbread, communications director at the IFP, said: “The environment has changed dramatically since 1986. Back then there was no regulation of financial advisers or the need to have professional qualifications. Despite this, throughout the past 25 years the IFP has spearheaded change and campaigned for better standards and quality of service to consumers.” It is not only in the UK that the IFP has had an impact. In 2004 the IFP became a member of the Financial Planning Standards Board. This is the central body for CFP certification outside of America and promotes worldwide professional standards in Financial Planning. It gives the IFP links with Financial Planning bodies in 24 different countries including Canada, Australia, Malaysia and South Africa.}

_{The first UK Financial Planner to be elected to the FPSB board was former IFP president Jane Wheeler FIFP CFP}^CM _{in January 2009. Joining with the FPSB also means that the 900 CFP}^CM _{professionals in the UK are part of a network of over 130,000 CFP}^CM _{professionals around the world. Speaking to former presidents, it is clear the IFP has been working with dedicated aims for many years.}

_{Both Julie Lord FIFP CFP}^CM _{(president 1996-1999) and Simon Williamson CFP}^CM _{(president 2000-2002) said their priorities during their presidencies were to increase membership, enhance the profile of Financial Planning and develop CFP}^CM _{certification. Ms Lord joined the IFP in 1994 after meeting Paul Etheridge at a conference. She said: “I felt the IFP was full of switched on people who were trying to do Financial Planning in a very different way to most people practicing at the time.” However she expresses regret about some of the decisions made during her presidency.}

_{“My biggest regret is that I didn’t manage to bring together the IFP with the Society of Financial Advisers and the Life Insurance Association. That would have been wonderful, it would have created one Financial Planning body in the UK instead of one for Financial Planners and one for mass market advisers.” She recalled, however, how far the IFP has come in terms of conferences. “Earlier conference weren’t so plush, we all slept in Oxford dormitories! They were a lot smaller and more intimate but there was still a feel of a real nucleus of people who believed what we believed.”}

_{Mr Williamson says he joined the IFP after meeting the late David Norton, one of the key figures in the early days, and Paul Etheridge at PIMS, the cruise- ship conference for advisers. He said he “had met kindred spirits who were determined to establish Financial Planning as a true profession.”}

_{He said that during his presidency, membership of the IFP increased by 50 per cent and the number of CFPs increased by 40 per cent. He spent a lot of time working with the FSA, politicians and professional bodies to prepare the groundwork for what would become the RDR. There were also initial proposals for the Certificate in Paraplanning.}

_{One thing Simon and Julie agree on is that the RDR is what the IFP has been promoting for years. Ms Lord said: “I’m pleased the FSA came round to our way of thinking, putting the client first and professional standards are all things the IFP has been saying for the last 25 years.” Mr Williamson said: “Many of the requirements of the RDR mirror what the IFP has been saying for a long time so the IFP will be exceedingly well placed to expand its role as the most relevant professional body for Financial Planning professionals.”}

_{So what does the future hold for the IFP? The RDR implementation in January 2013 is likely to have a huge effect on the organisation and future growth, believes IFP chief executive Nick Cann. He believes that membership of the IFP could double by RDR implementation or soon after. A number of factors could spur growth including the IFP’s new Accredited Firms register. The first 25 firms were announced at the IFP conference in early October and the IFP is hoping to see more applications.}

_{There’s lots of other initiatives planned but Mr Williamson said fundamentally the IFP is about getting things done and moving the profession forward. He said: “Welcome to an Institute that is getting stuck in and doing a great deal to improve financial services in this country.”}