Friday, 09 August 2013 11:35
IFP sees profits increase to £61,000 in 2012
The Institute of Financial Planning saw net profit increase from £56,000 in 2011 to £61,000 in 2012.
The IFP, which is a non-profit organisation, said this was "in line with Board expectations".
The investment in qualification and education was reflected in the net contribution from this area falling from £31,000 to £21,000 in 2012.
This is the first year that the IFP has run qualifications such as CFPCM certification via FPSB UK. This is a wholly-owned subsidiary to comply with Ofqual requirements and ensure independent governance.
Both the L6 Diploma in Financial Planning (which enables members to use the CFPCM title) and the L4 Certificate in Paraplanning were accredited by Ofqual.
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Last year, the IFP was particularly involved with issuing Statements of Professional Standing leading up to the RDR deadline. It was recognised as an Accredited Body by the Financial Conduct Authority.
Looking to the future, the IFP said it saw a skills gap for professional advisers looking to offer Financial Planning. As such, it has added more dates for its two-day Integrated Financial Planning Course which it said has been "extremely well-received".
It is also piloting a soft skills course to help advisers understand which questions to ask to help clients build a financial plan.
IFP President Rebecca Taylor FIFP CFPCM said: "We aim to reinvest our income for the benefit of members and generally set a balanced budget, however it is prudent to build reserves and I am pleased to say that we delivered against the key business objectives for the year and achieved our financial targets."
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The IFP, which is a non-profit organisation, said this was "in line with Board expectations".
The investment in qualification and education was reflected in the net contribution from this area falling from £31,000 to £21,000 in 2012.
This is the first year that the IFP has run qualifications such as CFPCM certification via FPSB UK. This is a wholly-owned subsidiary to comply with Ofqual requirements and ensure independent governance.
Both the L6 Diploma in Financial Planning (which enables members to use the CFPCM title) and the L4 Certificate in Paraplanning were accredited by Ofqual.
{desktop}{/desktop}{mobile}{/mobile}
Last year, the IFP was particularly involved with issuing Statements of Professional Standing leading up to the RDR deadline. It was recognised as an Accredited Body by the Financial Conduct Authority.
Looking to the future, the IFP said it saw a skills gap for professional advisers looking to offer Financial Planning. As such, it has added more dates for its two-day Integrated Financial Planning Course which it said has been "extremely well-received".
It is also piloting a soft skills course to help advisers understand which questions to ask to help clients build a financial plan.
IFP President Rebecca Taylor FIFP CFPCM said: "We aim to reinvest our income for the benefit of members and generally set a balanced budget, however it is prudent to build reserves and I am pleased to say that we delivered against the key business objectives for the year and achieved our financial targets."
• Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.
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