Lamb Financial joins exclusive list of accredited CISI financial planning providers

Lamb Financial’s Planning Support Officer Jan Hooper, Director David Lamb CFP™ MCSI and Business Manager Laura Fairley

Lamb Financial has joined an exclusive list of financial planning firms accredited by the Chartered Institute for Securities & Investment.

We are one of only four financial planning providers in the North East, and 67 nationwide, to achieve Accredited Financial Planning FirmTM status out of more than 5,400 advice firms operating across the UK.

Those 1.2% who do make the grade need to demonstrate their professionalism by meeting the highest standards of excellence in financial planning.

To become an Accredited Financial Planning FirmTM you must be able to demonstrate that providing a financial planning service is core to your business. Your company must demonstrate the following:

  • A full financial planning service, including cashflow modelling, is offered by default.
  • The financial planning proposition is clearly communicated and promoted to clients in marketing materials.
  • Policies and procedures are consistent with the CISI’s Code of Conduct.
  • The firm’s business structure reflects a clear fiduciary responsibility to clients.
  • A clear and consistent fee structure.
  • An understandable and visible investment philosophy.
  • All staff are aware of the Financial Planning service and how it differs from financial advice.
  • That the majority of advisers are qualified with a level 6 Financial Planning qualification.

In addition, CISI accredited firms must have a defined process for financial planning which meets the CISI ‘six stage’ definition, and is offered to clients as a default part of your service:

  1. Gathering data.
  2. Establishing the client’s objectives, goals and aims.
  3. Processing and analysing information.
  4. Recommending a plan of action.
  5. Implementing the plan when agreed.
  6. Reviewing the plan regularly.

The latest professional recognition is one of a number of formal qualifications and accreditations Lamb Financial Director David Lamb has. He also holds a Certificate in Financial Planning and the Society of Trust and Estate Practitioners (STEP) Certificate for Financial Services Trusts and Estate Planning.

David said: “We have always believed that focusing on helping our clients to achieve the desired lifestyle, without the fear of running out of money, is a fundamental part of our service and that financial planning should be seen as a profession, not just as a distribution channel for the financial services industry.

“We are delighted that our values have been recognised as matching the CISI’s high standards of financial planning excellence and we look forward to helping to bring professional financial planning to the forefront of financial services.”

Sally Plant, CISI Head of Financial Planning added: “It’s a pleasure to welcome Lamb Financial to join the CISI as Accredited Financial Planning Firms. It is pleasing to see more firms wanting to gain the accreditation and recognising the value in having Certified Financial PlannerTM professionals within their firms.”

Consumers can find the list of CISI Accredited Financial Planning Firms in their area by accessing the CISI’s Wayfinder website.