First for Exeter Financial Advisers - ISO22222 Certification
Two Exeter based financial advisers have become the first in the Westcountry to be accredited with the new, internationally recognised industry standard BS ISO 22222.
Peter Ellis and Tom Granville, respectively managing director and senior financial consultant at RK Shipman, have achieved the new British Standard Institute benchmark which was launched earlier this year to specify the ethical behaviour, competences and experience required of financial planners.
They are also amongst the first sixteen independent financial advisers (IFAs) nationwide to achieve the certification.
Peter Ellis said: “Both Tom and I are already Certified Financial Planners, the highest and most prestigious level of professional achievement for people working in the industry.
“Nevertheless, with over 24,000 IFA’s currently operating in the UK, there is always going to be consumer confusion over what qualification means what. Consumers are concerned about who they can trust to invest their hard-earned money well.
“BS ISO 22222 cuts right across this. It sets an internationally accepted benchmark which enables consumers to identify financial planners who possess the right knowledge, skills, ethics and experience to deliver the desired level of service.
“To achieve it, we have had to clearly demonstrate the type of relationship we have with our clients and that our procedures and processes represent best practice.
“The standard will raise service levels for consumers and set a benchmark for practitioners beyond the current regulatory requirements. It sets requirements for personal financial planners, identifies best practice in financial planning and will help to increase consumer confidence.
“The process of achieving BS ISO 22222 is very thorough and can take up to two years. At RK Shipman, we were very lucky to have already established many of the procedural requirements long before we were examines so we were able to accelerate the process and achieve accreditation in under two months.
“We are delighted with the outcome which will provide our business with a definite edge in the marketplace.
