A Financial Planner in Scotland and a trainee Financial Planner in West Yorkshire have become the first two to achieve the UK’s new highest level Financial Planning qualification.

Both have passed the CISI’s new Level 7 Financial Plan Case Study and, in doing, so have achieved the first Level 7 Financial Planning qualification.

The two are Keith Barron CFP FCSI of Falkirk-based Harley Financial and Daniel Morgan, a trainee Financial Planner at Chartered Financial Planners Berry & Oak in Boston Spa, West Yorkshire.

By passing the CISI’s new Level 7 Financial Plan Case Study, they made the final step to achieving the UK’s highest-level professional qualification for Financial Planners, the CISI Level 7 Diploma in Advanced Financial Planning.

The CISI said that Mr Morgan, having achieved the Level 7 Diploma in Advanced Financial Planning, satisfies the examination requirements of the Certified Financial Planner certification and, once the ethics and experience requirements are fulfilled, can apply for full CFP certification.

There are over 186,000 CFP professionals worldwide and just under 1,000 in the UK.

Keith Barron CFP FCSI of Harley Financial 

Trainee Financial Planner Daniel Morgan of Berry & Oak

Mr Barron, an existing CFP professional, and a Chartered Financial Planner, said he took the higher exam because he felt the Level 7 CFP process had helped him further develop his skills as a Financial Planner.

He said: “The Level 7 Financial Plan Case Study was an excellent opportunity to test myself based on just the information provided and to make judgments on priorities. Of course, in a real-life setting there would be in-depth discussions with the client to ascertain their aims, objectives and priorities. The Level 7 CFP process helped highlight some development areas for me, which in turn improved my overall knowledge.

“For firms thinking about putting their staff through the Level 7, it is a great idea to allow you to reassure your clients that they are receiving the highest standard of care from a practitioner who has the appropriate skill set to deal with their needs.”

Mr Morgan said: “I think it is important, as a Financial Planner, to be able to bring together your technical knowledge and apply it to clients’ circumstances in a coherent financial plan, which is what the Level 7 case study tests. I wanted to test myself in this way and ensure that my knowledge built up previously through exams and my past experience could be applied effectively.”

Jacqueline Lockie CFP and head of Financial Planning at the CISI, said: “We are incredibly pleased to see Keith and Daniel become the first to achieve the new Level 7 Diploma in Advanced Financial Planning.

“Their success shows that our redesigned CFP pathway is achievable and will equip them with the critical skills to apply a holistic and comprehensive financial planning approach to their clients. I hope that Keith and Daniel’s important achievements will lead the way to inspire future Financial Planners to embark on their CFP journey.”