Firms have until 19 September to submit their applications to become one of the first Accredited Financial Planning firms under the IFP’s new initiative.

Application forms are available from the IFP website and the first 25 firms will be announced at the IFP conference this October.

The IFP has already received applications and is currently going through the evidence provided.

Sue Whitbread, IFP communications director, said: “We’ve had quite a few applications and we’d like to receive even more. Of course firms can still apply after the conference but to recognised as one of the first they should apply soon.

“This recognition is something that can’t just be bought, it has to be earnt by firms who are providing quality service and excellence.”

The Accredited Financial Planning Firms standard will recognise those firms which demonstrate the highest professional standard and quality of Financial Planning.

To qualify firms must demonstrate they provide a comprehensive Financial Planning structure and clear remuneration service.

They must also commit to the IFP Code of Ethics and Practice Standards and have appropriately qualified staff in place. At least 50 per cent of the firm’s registered advisers must be CFP^CM.

All individuals providing financial service must also have been tested on their Financial Planning skills at an advanced level or be mentored by an appropriately qualified Financial Planner.

To download an application form visit http://www.financialplanning.org.uk/planners/accredited-financial-planning-firms.cfm