The Institute of Financial Planning (IFP) is planning to merge with the Chartered Institute of Securities and Investment (CISI) to accelerate growth of the financial planning profession in the UK.
The IFP confirmed that it is consulting with its members regarding a proposal that the organisation merges with the CISI.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
"The Board is strongly encouraging members to take part and hopes they will ultimately support the proposal," IFP said in a statement.
Under the terms of the deal, the IFP president, currently Rebecca Taylor, would be invited to join the main CISI board of trustees.
Also, all IFP employees will be offered a role as part of the new enlarged structure.
Taylor, who is managing director of Aurea Financial Planning, said: "The IFP is an amazing organisation and community, and one that I am so proud to be part of. I realise that change is never easy, but evolution is essential to stay strong and progress. Following a recent and lengthy strategic review by the IFP board, we consider that IFP would be an even more powerful influence on consumer outcomes as a result of joining with CISI."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCISI chief executive Simon Culhane said: "The CISI has been looking for a number to widen its target market. Members have been giving a greater focus on financial planning, particularly in light of the pension freedom reforms.
"We have been wanting to add high quality qualifications to our proposition to augment what we already have. The IFP’s CFP qualification is a very attractive part of the proposed merger. We will become the UK delivery partner for the CFP qualification, which fits in well with out aims for global reach."
