Financial planning members of the CISI have been encouraged to gain the title by taking the CISI IntegrityMatters test. In December, only 424 financial planning members had taken the test, out of a membership of 2,000. That has since risen to 790.
Ian Howe CFPTM Chartered MCSI said: “At first glance, taking the IntegrityMatters test appeared to me as a hoop to jump through to cement my involvement with the CISI. Having spent the hour or so doing the pre-reading and then going through the process, I must confess to actually enjoying it.
“It was a useful and interesting exercise beyond the traditional Ethics CPD of old. If you’re a CFPTM professional who hasn’t yet taken the necessary steps to add CISI Chartered designations to your name, all I can say is what are you waiting for?”
Former IFP President Rebecca Taylor CFPTM Chartered FCSI said: “Many members are yet to take this test and will therefore not be enjoying the full benefits of CISI membership, including of course the option to use the Chartered Wealth Manager title alongside the CFPTM marks.
“This is a simple online test, free of charge for those transferring over as part of the CISI and IFP merger. I took the test very early on. It really is a straightforward process which does make you think before answering. I use my new CISI designations with pride and would encourage you to do the same.”
She said: “Strong ethics and integrity were always a hallmark of members at the IFP. Throughout the strategic discussions on working with a partner, it was always important for the then IFP board to maintain that ethos for the future.
“This was an area where the CISI stood out through its own focus on ethics and integrity. At the IFP, as part of members’ annual CPD requirements, there was a mandatory 2.5 hours on ethics. At the CISI, there is a requirement for all members to also demonstrate their understanding of ethical behaviour through taking the IntegrityMatters test.”
IntegrityMatters – key information for members on how to approach the testFor Financial Planning members still to take IntegrityMatters, Rebecca Doodson, manager of ethics and integrity at the CISI, shares some advice on how to approach the test.
Read the introduction and use the workshop
- These will tell you how the test works and give example scenarios.
- IntegrityMatters is not a normal multiple choice test. The introduction and workshop help you become familiar with a format that may be quite new to you.
Take your time
- The workshop and test take about 45–60 minutes to complete.
- There is a lot of information to take in, so take your time and read things twice if needed.
Don’t get distracted
- If possible, turn off your phone, close your email inbox and dedicate a quiet hour to focus. IntegrityMatters is not like a regular exam but is still a test and requires concentration.
What would you do?
- Choose the option that you would choose in real life. It’s designed around real scenarios, so ask yourself ‘what would I do?’ rather than ‘which of these options will help me pass the test?’
Benefits:
- Passing IntegrityMatters earns you two CPD hours.
- Time and effort goes into sitting IntegrityMatters. Therefore, one CPD hour is awarded for taking the test, even if you fail.
- All IntegrityMatters CPD is autologged to your CISI CPD record.
IntegrityMatters – reminder about the Chartered Wealth Manager status
To retain membership of the CISI, following the merger with the IFP last November, members are required to pass the CISI IntegrityMatters test.
But what’s involved? Joanna Hague CFP
TM Chartered MCSI, a Paraplanner with Investment for Life, has completed it. She said: “I took IntegrityMatters as soon as I had time to do so because I think there’s something about a suggestion that you are going to have your integrity tested that made me feel competitive. The test itself is relatively self-explanatory, but you do need to spend some time and give it your attention in order to understand what is being asked of you. There is a series of straightforward case studies that ask about how you would act in a given scenario. I was honest with my answers and chose actions I would genuinely have considered in that circumstance – it turns out I do indeed have integrity.
“I would say you need at most an hour or so to work through the sample questions and complete the final test online, which I would encourage you to do asap.”