Last year, ProSport celebrated our 13th consecutive year as proud holders of corporate Chartered status. As one of the first Chartered businesses in the UK focused solely on sports professionals, maintaining this status is a testament to both our dedication to excellence and our expertise.
You might often see the term “Chartered” when you work with a professional, be it an accountant, surveyor, or indeed a financial planner.
While you might be aware that this indicates a level of service quality, you may not know exactly what this means. Or, perhaps you know that this represents the “gold standard” of the profession, demonstrating a professional or firm’s depth of knowledge and experience.
Whatever your understanding of Chartered status, read on to find out how it is measured for financial planning firms, and why it matters that we have this important accreditation at ProSport.
Chartered status is only awarded to firms that meet strict criteria
Chartered status is usually the terminal qualification for a profession, designating an individual or firm as having achieved the highest possible accolade. The accreditation itself is awarded by an industry body, using strict criteria that the individual or firm must meet.
In the case of financial planning, Chartered status is awarded by the Chartered Insurance Institute (CII). The accreditation is awarded to individuals and firms that have made a public and transparent declaration of a commitment to professional standards and client-centric service.
This revolves around development of staff, serving the best interest of clients, and being actively involved in promoting strong ethics and values in the profession – the latter of these underpinned by a strict Code of Ethics published by the CII.
Chartered status is a hugely important indicator of quality in the financial planning profession. According to CII research:
- 80% of consumers would be more likely to choose a Chartered firm.
- 73% of businesses would be more likely to choose a Chartered firm.
- 88% of consumers who have used a Chartered firm in the past would likely use a Chartered firm in the future.
- 84% of businesses who have used a Chartered firm in the past would likely use a Chartered firm in the future.
For us at ProSport, our Chartered status has been incredibly valuable. It has instilled confidence in our many clients that we will always serve their best interests, and acted as proof to other professionals that we are a top firm dedicated to client service that they can trust when recommending our financial planning services.
Both firms and individual planners can achieve Chartered status
There are two types of Chartered status in financial planning: individual, and corporate.
Individual Chartered status
Individual planners can achieve Chartered status. Gaining it is a strenuous, in-depth process, requiring advisers to achieve certain milestones such as passing exams, while also having a certain proven level of experience.
Corporate Chartered status
Just as we have been at Pro Sport, firms can be awarded Chartered status. This requires the entirety of the firm’s board and at least 90% of customer-facing staff to be members of the CII.
Furthermore, 50% of the firm’s advisers must be individually Chartered. All clients must be able to access a full financial planning service with a Chartered financial planner.
Corporate Chartered status revolves around the Chartered ethos, which is made up of three key parts:
- Nurturing knowledge, developing the right expertise and investing in the team to improve standards
- Client centricity, always acting in the best interest of clients
- Serving society, being a good corporate citizen and building trust in the profession.
All this work is on top of that completed by our planners to achieve individual Chartered status.
Corporate Chartered status sets us apart from our peers
There were reported to be more than 16,000 firms authorised to provide regulated financial advice in the UK at the end of 2023. Yet, just 591 of them have achieved corporate Chartered status. This is why it is such a significant achievement for us to have corporate Chartered status at ProSport.
Crucially, Chartered status has client-centric practices at its core. So, everyone we work with can have complete confidence in our commitment to both the profession and to upholding the highest of client service standards.
Chartered status is not the only feather in the ProSport cap
While Chartered status is no doubt a hugely proud achievement for us at ProSport, it is not the only feat that differentiates us from other firms. We also have many other accreditations, accolades and community contributions that show why our service is a cut above the rest.
ProSport stands out as a financial advice firm run by former professional athletes. As ex-footballers, we understand your financial concerns firsthand. Our blend of sporting experience and financial expertise uniquely positions us to guide clients throughout their careers.
Our Managing Director, Gareth Griffiths, an ex-professional footballer, served on The PFA Management Committee during his playing career. Following this, he also became a trustee of The Professional Player’s Foundation (PPF), formally The PFA Charity. In collaboration with The PPF, Pro Sport recently launched “MyProPlan,” a financial planning tool designed to provide a comprehensive view of all your finances in one place.
ProSport were also honoured to be appointed as an Official Partner of The Professional Footballers’ Association (PFA) in 2011, a partnership we proudly maintain to this day.
Furthermore, both our Managing Director, Gareth Griffiths, and one of our expert, Chartered Financial Advisers, Jane O’Hara, hold official affiliations with the Society of Trust and Estate Practitioners (STEP), the international professional body for advisers who specialise in inheritance and succession planning. Gareth Griffiths also possess qualifications accredited by STEP.
As well as this, Jane O’Hara was the proud recipient of the ‘Women in Finance- Wealth Manager of the Year’ award in 2022.
Finally, ProSport are proud to be committed to making a difference in our community, and to supporting good causes. For the past two years, we have supported the Chester food bank as well as completed pro bono work for professional athletes in financial difficulty.
Our wide range of achievements and community contributions demonstrate our dedication to excellence and our unwavering commitment to supporting both our clients and our community.
Get in touch
Working with a Chartered financial planner means receiving a knowledgeable, experienced, best-in-class service that is focused on the right outcomes for clients.
If you would like bespoke expert financial and investment advice from our award-winning team of Chartered financial planners, get in touch today.
Email enquiries@prosportwealth.co.uk or call 01204 602 909 to speak to an experienced member of our team.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
