Consumer response to Financial Planning Week was tremendous and demonstrates hunger for financial guidance, says CISI

by Lora Benson | Jun 14, 2016

Consumer response to Financial Planning Week’s free financial planning sessions has been unprecedented and demonstrates the acute need felt by the UK general public for trusted and professional financial guidance, says the CISI.

Financial Planning Week, an annual event which ran 6-10 June this year, was arranged by the Chartered Institute for Securities & Investment, the professional body for those working or looking to establish a career in the securities, investment, wealth and financial planning professions.

The aim of the initiative, across five days, was to raise awareness of the importance of the role of qualified financial planners in helping people from all walks of life, not just the wealthy, and of all ages, to think ahead and plan for their futures.

  • 12 case studies published
  • 200 pure financial planning questions submitted, with 25 consumer questions answered to date via financial planners on the Ask a Planner financialplanning.org/wayfinder website
  • 51 supporting financial planning firms
  • 51 bookings for “Money Talks”  Cass Business School event for millennials and students
  • 500 telephone calls from consumers
  • 20,300 Twitter impressions for @WayfinderCISI

Campbell Edgar MCSI, CISI Head of Financial Planning said: “We have been delighted with the support shown by all the financial planners and firms, UK-wide, and the media, who have been so generous in both offering their professional services for free and creating awareness of this important initiative.

“However, it has highlighted the gap which exists for consumers for true, professional financial planning assistance. We believe the message that financial planning, which is distinct to financial advice, can be a positive, life-changing experience and ultimately help everyone to achieve their life goals, has been extremely well received by the consumer.

“We have emphasised that financial planning is not just for the wealthy and not just for the retired or those looking to retire. Millennials, students, those starting out in their careers and those individuals mid-way through their careers can all benefit from these sessions.

“As the statistics above show, our phones have been red hot with calls from consumers keen to take advantage of a free meeting with a professional, trusted financial planner. Some of the firms involved had all of their free sessions booked within hours of the initiative being publicised.

“The media have also been key in helping us communicate these messages, focusing particularly on our universal reluctance to not want to face the big questions in life eg what would you do with your money if you knew you only had one year left to live?”

Jacqueline Lockie CFPTM  Chartered FCSI and CISI Deputy Head of Financial Planning added: “The consumer response has been off the scale and we believe we have made good progress in helping the general public to understand the difference between financial planning and financial advice. There will always be a demand for good, qualified professional financial planners. It is very much a people profession and a career which young people coming into the UK workforce may wish to seriously consider, as being a CFPTM is hugely rewarding.”

Those consumers looking to find out more about financial planning should visit http://www.financialplanning.org.uk/wayfinder .