Many candidates aiming to gain Certified Financial Planner status wrongly believe that a comprehensive cashflow is obligatory in the assessment, the CISI’s head of Financial Planning says.

The great cashflow modelling debate continues in the latest edition of Financial Planning Today magazine as Campbell Edgar Chartered FCSI gives his take on the subject.

The former IFP President said the interest in the topic is nothing new, with “heated debates and discussions around the intricacies of one financial planning cashflow model over another” keeping planners at the bar at conferences down the years “until way after our normal bedtime”.

Writing exclusively for FP Today magazine, he said: “It is a fact that FPSB Standards for a competent plan pass to gain the CFPTM professional accreditation do NOT require a cashflow.

“Yet many candidates entering the Diploma in Financial Planning/CFPTM assessment believe that a comprehensive cashflow is obligatory.

“The result is analogous to a driver with a provisional licence attempting the Driving Test in a Maserati! The skill set required to get that right first time is huge. My advice is – keep it simple. Do what the syllabus standards require, and no more.”

Another former IFP President Julie Lord CFPTM Chartered FCSI also updates readers and reflects on the cashflow planning poll on FP Today.

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