A guide to Chartered status for Financial Advisors and Paraplanners

A guide to Chartered status for Financial Advisors and Paraplanners
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Higher income potential – Chartered individuals can often demand a higher salary than that of a regular Financial Advisor or Paraplanner for example, Glassdoor reported that the median salary for a Financial Planner is around £54,000 whereas a Chartered Financial Planner makes around £14,500 per annum more at close to £69,000! Although, it is worth noting that these figures are based on a handful of self-reported salaries and may or may not include on target earnings (OTE).

Career progression – Career development had been linked with happiness, Psychologies magazine detail in regard to career happiness “…the right amount of challenge, combined with a sense of competence allows you to perform at your best. Imagine how it would feel to have that sense of ‘flow’ everyday! Look for opportunities to step out of your comfort zone.”

Learning – When you are looking to undertake the journey towards Chartered status, you will have to learn and absorb new information. This is vital as studies have shown you receive increased job satisfaction through work based learning.

Differentiation – Achieving a high standard in any field will inevitably put you at a higher level than your peers in relation to your career.

Ability to work complex cases – When you are Chartered you have capabilities to work more complex cases that others cannot. Therefore, you are gaining clients that others would not and cannot access. You will also simultaneously diversify your job role and addanother layer to your service provided to clients.

Recognised level of standard – Chartered status is the embodiment of dedication to your career; it signifies that you strive for the best, which in the eyes of clients will transfer into results thus making you the obvious choice for them.


To obtain Chartered Financial Planner status individuals must:

  1. Stage 1 – Hold the Diploma in Regulated Financial Planning (100 credits) or the Diploma in Financial Planning (140 credits)
  2. Stage 2 – Progress to the Advanced Diploma in Financial Planning (290 credits)
  3. Stage 3 – Once you meet the prerequisites, apply for Chartered Financial Planner status

The specific requirements for the credits have been detailed on the Personal Finance Society website and are shown below:

Yearly: £262.00

Monthly: £21.83

Admission Fee: £37.00 (A one-off admission fee applies to all applications from new and reinstating members.)


Much like the CII the LIBF route to Chartered status is broken down into three stages:

  1. Stage 1 – Hold Level 4 Diploma for Financial Advisers (DipFA)
  2. Stage 2 – Hold Level 6 Diploma in Financial Advice (Adv DipFA)
  3. Stage 3 – Apply Provided you have three years’ professional experience – you will be eligible to apply for Chartered Associateship of The London Institute of Banking & Finance.”

The LIBF state that the fees are “The subscription year for Chartered runs from 1 January to 31 December. The fee for joining between January and June is £160. July to December applicants pay half the fee at £80. If you have already paid for a membership with us for a similar period, we will deduct your existing subscriptions from the Chartered fee.”

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