As part of its aim to ensure that people who carry the Certified Financial Planner® / CFP® designation are qualified, experienced and professional, the Financial Planning Institute of Southern Africa (FPI) says it has terminated close to 350 memberships due to non-compliance. The ruling took effect 2nd September 2015.
This is in accordance with section 6.6 of the FPI Membership Regulations. It adds that the affected individuals “failed to meet FPI recertification requirements within the required timeframe.”
Recertification will require that members update personal details and Continuous Professional Development (CPD) points, complete a declaration, undertake to adhere to a Code of Ethics and Professional Responsibility and pay a prescribed membership fee.
In addition to publication of the names of people whose membership had been terminated, FPI will also publish the names of members who subsequently reinstates their membership. Applications for re-instatement of membership will be considered on individual merit and is not automatic.
The Financial Planning Institute of Southern Africa is a South African Qualifications Authority (SAQA). It is a recognised professional body for financial planners, which serves the public by ensuring that people who carry the CFP® designation are qualified, experienced and professional. FPI is recognised internationally and is a founding and a current affiliate member of the international Financial Planning Standards Board Ltd (FPSB) based in the USA, along with 25 other affiliate member countries who offer CFP® certification, the highest professional designation worldwide for a financial planning professional. For more, visit www.fpi.co.za.