A Liverpool-based Financial Planning business has become the latest to join the swelling ranks of IFP Accredited Firms.
Pavis Financial Management said it has become the only firm in Merseyside to gain the accolade and joins over 70 others across the UK with the accreditation.

IFP Chester and North Wales branch chairman Quentin McCormick is a director of the firm.

He said: "To join that elite band and become the standard-bearer for Merseyside is a great honour for us and we hope it serves to further reinforce our clients' trust in the financial planning and investment advice we give them every day.

"The IFP selection process is extremely thorough, reflected by the relatively small number of advisors and firms who have been able to gain accreditation."

{desktop}{/desktop}{mobile}{/mobile}

The Water Street-based practice, which said its client numbers and staff had grown considerably over the past two years, was recognised following a rigorous assessment of its professional practices and level of services to clients.

To become accredited, firms undergo rigorous assessment by the IFP on their activities and structure and have to prove they operate at the highest ethical and professional standards. This means at least 50 per cent of registered individuals to be qualified at Level 6 or above.

They must show evidence of following the six step Financial Planning process with cash-flow planning as a default service, attaining qualification standards well ahead of the FCA required levels, providing clarity of proposition and fees, and an ongoing commitment to effective CPD for staff.

Mr McCormick said: "Ever since the firm launched in 1992, there has been a real commitment to conducting business in the most ethical and professional manner, with the ultimate goal of helping clients plan their finances in an effective and sustainable way.”

Steve Gazzard, chief executive of the IFP, said: "Accredited Financial Planning Firms represent excellence in Financial Planning. They have successfully undergone the IFP's rigorous assessment process to demonstrate that they operate at the very highest professional and ethical standards through the calibre of their staff and the service they provide to clients."

Profitability per head for IFP Accredited Financial Planning Firms has become roughly twice as high as that of a general advice firm, the IFP revealed earlier this year.

Results of a study were presented at the IFP's Accredited Financial Planning Firms Conference at the Radisson Blu Edwardian hotel in London in April by Phil Billingham CFP^CM and Susan Jordan from The Phil Billingham Partnership.

Meanwhile, Pavis has welcomed its latest recruit Carly Dunningham, 34, who the firm described as “one of the UK’s most acclaimed young advisors”.

She has joined as an independent financial advisor following eight years at Parkgate in Cheshire, where she was a partner.

She is progressing towards Certified Financial Planner status and has won several regional awards in recent years in recognition of her exams success.