M&G Investments and Octopus Investments join CISI Financial Planning mentoring scheme 2020

by Lora Benson | Jul 06, 2020

The Chartered Institute for Securities & Investment (CISI) is delighted to welcome M&G Investments and Octopus Investments as mentors for its 2020 Financial Planning Mentoring scheme.

The scheme, which began last year, was set up by the CISI to match highly regarded professionals possessing the globally recognised Certified Financial Planner (CFPTM) designation as mentors for mentees.  To take part in the scheme, mentees must be members of both the CISI and its Financial Planning Forum and be looking for help and support to achieve their professional financial planning goals.

The scheme is free to join with a library of support and information available to all mentors. A full structure is in place to establish mentees’ goals and support them along the way to achieving them.

The CISI Financial Planning Mentoring Scheme aims to grow the profession of financial planning whilst continuing to improve standards of financial planning advice with the support of experienced and dedicated CFP™ professionals.

The criteria for the 2020 relaunch of the CISI Financial Planning Mentoring Scheme has been updated and whilst the majority of the criteria remains the same, there is one significant change to the criteria for the mentees:

The CISI have identified the different types of flourishing financial planning professionals, so have created two streams for mentees on the scheme. The first stream caters for individuals already in the financial planning profession looking to enhance their skills and knowledge by embarking on the pathway to become a Certified Financial Planner. The second stream is aimed at those who are new or who are aspiring to be in the financial planning profession.

The CISI pilot Financial Planning Mentoring Scheme was able to match 20 mentees to individual mentors over the course of the pilot scheme. During this time mentees were able to tailor the mentoring to help meet their goals and objectives set during the initial meeting with their mentor. Mentees not only focus on their personal development but are able to learn more about the financial planning profession from their mentors and their experiences.  The scheme has bought together mentors and mentees from 14 different regions across the UK, with the relaunch of the scheme this year aiming to increase regional participation. The technical helplines provided by Schroders, Royal London and James Hay received 5-10 calls a month from mentees and mentors seeking technical expertise.

On her experience as a mentee, Jenny Madhoo MCSI (right) Acumen Financial Planning said: 010720JennyRyanMadhoo‘’My mentor has been approachable and supportive, and by keeping notes of our discussions she is able to hold me to account from one session to the next which is extremely valuable.”

NicolaWattsOn her experience as Jenny’s mentor, Nicola Watts  CFPTM Chartered FCS (left)I, of Jane Smith Financial Planning said: “My mentee comes to each meeting having made progress in the areas we have previously discussed along with a fresh and new action list to aid her personal development. She is focused on what she wants to achieve and is willing to take action and build a plan to get there.”

Jacqueline Lockie CFPTM Chartered FCSI, CISI Head of Financial Planning said: “We are delighted to be operating our Financial Planning Mentoring Scheme again this year. We would like to thank Schroders and James Hay for providing technical support to our participants of the 2019 pilot scheme.

“Our Silver Financial Planning Corporate Supporter, Royal London will be continuing with their support for the scheme by offering technical support for Protection and Pension queries. For the relaunch of our mentoring scheme we welcome M&G Investments who will be providing technical support for Investment queries and Octopus Investments will be providing technical support for Estate and Tax Planning. We are extremely pleased to have all three firms involved for 2020 and appreciate their commitment to this important initiative.

We had an excellent uptake of both mentors and mentees in 2019 and, having listened to feedback, we’ve made some improvements to the scheme, this includes creating two streams, as outlined above, to ensure that support is available within the financial planning profession.”

Those interested in joining the CISI Financial Planning Mentoring scheme either as a mentor or mentee can apply via this link