Personal financial planning
Until now, people seeking advice on how to plan their retirement or best invest their savings have been confronted with similar problems the world over. There is a vast choice of investment schemes, legal frameworks vary from country to country, and investments can go wrong. With so many financial planners to choose from, how can they know who to trust and how should they compare the different schemes on offer?
ISO has published the first International Standard that will help people to decide whether or not they can be confident about the ethics and competence of professionals proposing advice on planning their personal finances.
ISO 22222, Personal financial planning, is aimed at increasing client confidence by providing an internationally agreed benchmark for a high global standard of service.
At the heart of the standard is a framework that applies to all aspects of the personal financial planner’s ethical behaviour, and requires compliance with applicable rules and regulations. It gives the requirements for competence performance and competence assessment methods, and obliges the financial planner to demonstrate continued competency by following the necessary training programmes and maintaining records of these.
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