The Personal Finance Society has launched an Associate Firm membership for Financial Planning firms that want to show their alignment to the professional standards and code of ethics set by the professional body.

The PFS said several Financial Planning firms have already signed up to the new membership ahead of the launch.

One firm that has signed up is Syndaxi Chartered Financial Planners. Robert Reid, managing director of Syndaxi said:  “As an individual I am proud to be associated with the PFS, as both a current member and past president, and without hesitation wanted to clearly align my business with the eight principles of association. All firms can now play a role in uniting our profession behind a common code of professional ethics, cultural behaviours and the sharing of good practice and my firm is totally committed to play its part.”

In order to become an Associate Firm, Financial Planners must adopt eight underlying principles of association which includes a commitment to comply with the spirit as well as the rules of regulation and employment law as well and to have a clear diversity and inclusion policy, in addition to a policy for corporate social responsibility.

Keith Richards, chief executive of the Personal Finance Society, said: “Associate firm status publicly demonstrates a firm’s voluntary adoption of the professional standards and principals set independently. This alignment allows associates to stand tall behind a strong and proud inclusive united profession, placing clients and staff at the heart of its culture and focus.

“Our strapline, Standards. Professionalism. Trust, embodies our commitment to driving confidence in the power of financial planning through professional standards, competence, integrity and care for the client – firms as well as individuals can play a role in achieve this vision.”

Associate Firm members will receive an associate logo, a plaque and will be linked to from the PFS website. It will be renewable annually.