A new investment academy is being launched for advisers working towards becoming a Chartered Financial Planner.

Old Mutual Wealth is partnering with the Chartered Insurance Institute on the academy for advisers studying toward their AF4 Investment Planning module and individual Chartered status.

By July 2017 firms holding corporate Chartered status will need at least 25% of their advisers to be Chartered Financial Planners in their own right.

This is currently limited to a firm’s most senior staff, with one member of a firm’s board needing to hold the Chartered Financial Planner title.

Steve Aspinall, Director of Corporate Development at the CII, said: “Educating Financial Planners in a level 6 exam module will enhance knowledge and give the customer greater trust in the Financial Planning process, a process being provided by highly qualified professional individuals.”

Changes to the CII’s Chartered firm criteria were announced 18 months ago.

Some 5,300 individuals now hold the Chartered Financial Planner title and the number of firms achieving Corporate Chartered Financial Planners status has increased by 82% since 2012, with 734 firms now holding the title.

The title’s worth has also increased, according to a recent survey from the CII of its chartered firms.

The survey found that in 2015 the chartered status has helped 78% firms attract more potential clients, up from 57% in 2009. Similarly, 70% of the firms said it helped them gain new business in 2015, up 10% from 2009.

Old Mutual is joining up with the CII to offer its investment academy to help advisers pass the CII AF4 Investment Planning module.

The CII AF4 qualification is one of the six modules that can be used towards completing the CII Advanced Diploma in Financial Planning, leading to Chartered Financial Planner status.

The programme is five full day training sessions starting in November and finishing in March next year with an exam in April 2017.

In 2015, Old Mutual Wealth acquired the Financial Adviser School.

The Investment Academy has six fund partners in addition to Old Mutual Wealth. Aberdeen Asset Management, Henderson Global Investors, J P Morgan Asset Management, M&G Investments, Old Mutual Global Investors and Schroders Investment Management.