Benefits of ISO 22222 certification

Increase your professional standards with ISO 22222
The only international quality standard for providing personal financial planning .

One of the major issues reported by consumers when seeking financial advice is the uncertainty over whether they can trust their financial planners.
With the vast number of investment schemes and financial planners to choose from, consumers are often confused about where to turn for advice on planning for their financial future.

ISO 22222 is the long awaited best practice standard and was created by leading professionals in the UK and overseas. It took 7 years to create and is gaining much momentum amongst professional planners within the financial services arena.

ISO 22222 is aimed at increasing client confidence by providing an internationally agreed benchmark for a high global standard of service.

The standard covers the ethical behaviour, competences and experience required of a financial planner. This also enhances the transparency and efficiency of the process for personal financial planning.

At the core of the ISO standard sits the six steps of the personal financial planning process:
1. Establishing and defining the client and personal financial planner relationship.
2. Gathering client data and determining goals and expectations.
3. Analysing and evaluating the client’s financial status.
4. Developing and presenting the financial plan.
5. Implementing the financial planning recommendations.
6. Monitoring the financial plan and the financial planning relationship.

Aligned to these key steps are the business critical elements of business continuity, information security, client confidentiality and continual improvement, all of which help financial planning professionals operate in a true best practice manner.

Benefits to the Financial Planner
• Improved performance
• Simplified and effective processes and documentation
• Standardisation of good working practices
• Improved communication
• Promotes awareness of quality, professionalism, better public awareness and public image
• Improved sales and marketing opportunities
• Exemption from the Chartered Insurance Institute (CII) AF5 module
• Reduced risk = potential reduced insurance costs
• Improved compliance – Supports regulatory requirements

Benefits to the consumer
• Receive a more professional and consistant service
• Adds value to the services provided by the financial planner
• Assurance of quality of service
• Evidence of commitment to continual improvement and compliance through independent third-party certification                                                                                                                                                                                                                                                            • Enhances business relationships – building trust and securing repeat business
• Reassurance that regulatory requirements are being adhered to and monitored on an ongoing basis
• Access to evidence of qualifications, experience and competency.

By adopting and maintaining the ISO 22222 requirements and recommendations the financial planner will be able to demonstrate a continued and high level commitment to an international standard benchmark of best practice.