Starting your career as a financial planner is an exciting yet crucial journey. You’re not just looking to build a profession; you’re embarking on a path that will influence the financial wellbeing of your clients for years to come. One of the most important early decisions you’ll need to make is aligning with the right professional body. Trust me, this can make all the difference in how your career unfolds.
Let’s clear up some confusion around professional bodies. Many people assume that financial planning and financial advice are one and the same—but they aren’t. Financial planners work holistically to help clients create tailored plans for their life goals, while financial advisers often focus more on product sales, such as recommending investment funds or insurance policies. This difference is key when deciding which organisation best represents you.
The Case for CISI (Chartered Institute for Securities and Investment)
If you’re serious about being a financial planner and not just a product seller, the Chartered Institute for Securities and Investment (CISI) is the right choice. CISI understands that financial planning is a profession in its own right—not just an arm of financial advising. When you align with CISI, you’re joining a community that values your skills in helping people navigate their financial lives holistically, through creating comprehensive financial plans tailored to their goals, dreams, and aspirations.
The distinction is crucial: financial planners help people achieve life goals. Whether it’s preparing for retirement, buying a home, or creating generational wealth, you guide clients through strategies that consider every aspect of their finances—from pensions to tax efficiency, estate planning, and beyond. In contrast, a financial adviser might focus on selling specific products, such as life insurance or investments. That’s why CISI, which recognises the depth and breadth of what true financial planning entails, is such a great fit for the aspiring or current financial planner.
What About CII? (Chartered Insurance Institute)
Now, let me share a personal reflection: I initially chose to go the CII route, which I later found to be more suited to financial advisers than true financial planners. The Chartered Insurance Institute (CII) insists that to be recognised as an active member and use their designations, you must also be a financial adviser registered with the FCA. This requirement aligns more with product selling, which can feel limiting if you’re committed to holistic financial planning.
If you aim to become a well-rounded financial planner focusing on the entire financial wellbeing of clients, CISI is where you’ll find your professional home. CII has its merits, especially for those primarily engaged in selling financial products or specialising in insurance. But for young professionals entering the world of financial planning, the CISI offers a more comprehensive and professional pathway.
Why This Choice Matters
The professional body you choose to represent you will shape not just your career, but also your philosophy as a financial planner. By choosing CISI, you’ll have access to support, resources, and a community that understands financial planning as a profession focused on creating financial wellbeing and security for your clients—not just selling products. You’ll also benefit from their widely respected credentials, which signal your commitment to providing the highest standards of financial planning services.
CISI professionals work to guide clients through the six stages of financial planning, from understanding their goals to monitoring and revising their plans over time. With this holistic approach, your work will have a lasting impact on the lives of your clients, helping them navigate key life milestones with confidence and security.
Next Steps: Take Control of Your Career
If you’re at the start of your financial planning journey, or even if you’ve been in the industry for a while and are reconsidering your professional alignment, I highly recommend joining CISI. Don’t get sidetracked by organisations that are more focused on product selling. Financial planning is a profession, not an industry, and CISI recognises this.
Your career as a financial planner can have a profound impact on people’s lives. Choose a professional body that truly understands and supports that mission.
Remember, the choice you make today will shape the future of your career—and the financial futures of those you serve.
Questions & Answers
Q: What’s the difference between a financial planner and a financial adviser?
A: A financial planner focuses on helping clients achieve their life goals through a comprehensive financial plan that takes into account all aspects of their financial situation. This can include retirement planning, tax-efficient investing, estate planning, and more. A financial adviser, on the other hand, typically focuses on recommending and selling specific financial products, such as investment funds or insurance policies. While both roles are important, a financial planner takes a more holistic approach.
Q: Why should I choose CISI over CII if I want to become a financial planner?
A: CISI (Chartered Institute for Securities and Investment) truly understands that financial planning is a profession in its own right, not just about selling products. They provide support, resources, and recognition for financial planners who want to take a holistic approach to helping clients with their financial wellbeing. CII (Chartered Insurance Institute) tends to focus more on financial advisers who sell products, and they require that you be on the FCA register to be an active member. If your passion is financial planning and you want to create long-term value for clients, CISI is the better fit.
Q: What benefits does joining CISI offer to financial planners?
A: By joining CISI, you’re aligning yourself with a professional body that recognises financial planning as a specialised, valuable profession. You’ll gain access to a community of like-minded professionals, top-notch resources, and widely respected qualifications that demonstrate your commitment to high standards. CISI also helps you grow as a financial planner by focusing on holistic financial strategies that benefit your clients, rather than just selling products.
Q: I’m just starting my career in financial planning—should I join CISI or CII?
A: If you’re looking to build a career as a financial planner where you guide clients through comprehensive financial plans and help them achieve their life goals, CISI is the ideal choice. They’ll support your professional growth in a way that aligns with your passion for helping people manage their entire financial wellbeing. While CII may be more suited to those who want to focus on selling financial products, CISI is your go-to if financial planning is the path you want to pursue.
Q: What does a financial planner actually do for clients?
A: A financial planner works with clients to create a personalised plan that helps them achieve their life goals, whether that’s early retirement, buying a home, or building wealth for future generations. Financial planners take into account everything from your investments and savings to your taxes and estate planning, making sure your finances are in the best possible shape to meet your goals. They guide clients through every stage, ensuring that their plan evolves as their life and needs change.
Q: Isn’t financial planning the same as financial advice?
A: Not quite. While both roles can help you with your finances, they take different approaches. A financial adviser is more focused on recommending and selling specific financial products that suit your current needs. A financial planner, on the other hand, looks at the bigger picture of your life and finances, helping you create a roadmap to reach your goals. Financial planning is more about strategy and long-term success, rather than just product sales.
Q: How does financial planning impact my life and financial wellbeing?
A: Financial planning helps you create a clear, structured approach to your finances, ensuring you’re making informed decisions that support your life goals. Whether it’s managing your income, building a retirement fund, planning for your children’s education, or simply ensuring your future is secure, a financial planner provides the expertise and guidance needed to help you stay on track. Over time, this can offer you peace of mind and a better financial future.
Q: How do I know if CISI is the right professional body for me?
A: If you’re passionate about helping clients with their overall financial wellbeing and creating comprehensive plans that address every part of their financial life, then CISI is likely the right fit for you. They understand that financial planning is a profession centred on long-term relationships and strategies, not just selling products. CISI offers the tools, resources, and community that will help you grow as a financial planner, focusing on what truly matters—your clients’ success.
About the author, Steve Conley
In 1986, Steve Conley embarked on his professional journey with the Chartered Insurance Institute (CII), becoming an FCII Chartered Insurer in 1989. After a successful and fulfilling career, during which he held senior roles at prominent companies, Steve decided to take a more personal approach to financial services. In 2012, he set up as a financial adviser and continued to grow his expertise, becoming an APFS Chartered Financial Planner in 2017.
However, in 2019, Steve made a significant decision to focus on being a financial planning professional. As he was no longer an FCA-registered financial adviser, he had to resign from the CII, meaning he could no longer use his Chartered titles. But Steve’s passion for financial planning remained undeterred. He continued his career as a financial planner—not a financial adviser—and today, he leads an international network of over 500 professional financial planners who are also not financial advisers.
Now, at 63, Steve has made a fresh decision in his career. After reflecting on the alignment between his values and professional goals, he has applied to join the Chartered Institute for Securities and Investment (CISI), which recognises the professional status and competency of financial planners like him. Steve is optimistic about the future, knowing that, given the long and thriving careers of some of the eldest members in his Academy, he could have another 20 years ahead of him. This move represents a new chapter for Steve, one that ensures his professional recognition continues as he remains committed to helping others through his expertise in financial planning.
Steve’s journey serves as an inspiring example of how we can continue to evolve and adapt, staying true to our professional values and seeking recognition where it truly aligns with our work. With CISI, he looks forward to continuing to provide value to the financial planning profession while receiving the recognition that underscores his commitment and competence.
Academy of Life Planning 