If there is one 'engine' which has transformed the financial advice profession over the past 10 years it is the professional bodies. The 30th anniversary celebrations this week for the Chartered Institute for Securities & Investment reminded me of the incredible transformation of the sector in recent years and how much of that is due to the professional bodies.

Some 30 years ago the CISI itself had fewer than 5,000 members. Today it has over 45,000 with members dotted all round the globe.

In the UK it is the body for Certified Financial Planners and continues to propel the Financial Planning profession forward.

Despite its challenges with parent body the CII, the Personal Finance Society, the body for Chartered Financial Planners, has also grown significantly in recent years and now has more than 40,000 members.

Apart from these two dominant Financial Planning bodies, there are many other bodies who have increased both membership numbers and influence, including the fast rising London Institute of Banking and Finance, the Society of Trust and Estate Practitioners, the CFA and several others.

A little over 10 years ago the focus was purely on sales and commissions, today's advisers are focused on professional development, business growth and serving clients. They have been rewarded with business valuations for their companies far beyond what many dreamed. The influence of the professional bodies in raising standards has been critical.

Back in the bad old days, advisers often talked about their 'client banks.' These were often huge lists of people they had once flogged an endowment policy to. Now the talk is all about holistic Financial Planning, assets under advice, recurring fee income and the like.

It is a huge change with more to come. While there are still problems, and the list of failed firms published regularly by the Financial Services Compensation Scheme is testament to that, few would disagree that the Financial Planning profession is only going one way and that's down the professional path.

Looking at LinkedIn I see a sea of new young graduates attracted to the profession and the promise of a long, enjoyable and professionally rewarding careers. That's just as it should be.

At the heart of all this change are the professional bodies who form the glue that binds a robust and well run profession. It's easy to forget the work the bodies do and the volunteers who run the branches run but they all deserve a pat on the back. We will probably never get rid of the rogues completely from the profession but it's fair to say the vast majority of planners are now working in companies that combine both integrity and high professional standards.

There is still much to do but it's good to see that the professional bodies are now at the heart of the profession and no longer an after thought or a 'nice to have' pursuit for the enthusiasts.

• I am taking a break next week and this column will be back in two weeks.

Kevin O’Donnell is editor of Financial Planning Today and a journalist with 40 years of experience in finance, business and mainstream news. This topical comment on the Financial Planning news appears most weeks, usually on Fridays but occasionally other days. Follow @FPT_Kevin • If you have not yet registered for Financial Planning Today as a subscriber please do so now. It's free to sign up.