ISO 22222:2005 Personal Financial Planning Certification

ISO has published the first International Standard that will support people make a decision whether or not they can be sure about the ethics and competence of professionals that provide advice on planning their personal finances. ISO 22222:2005, Personal Financial Planning, is aimed at growing customer assurance by providing an globally agreed benchmark for a high international standard of service.

ISO 22222:2005 defines the personal financial planning procedure and identify ethical behavior, competences and experience necessities for personal financial planners.

ISO 22222:2005 has been drawn up with the objective of achieving and promoting consumer self-assurance by given that an globally agreed benchmark for a high global standard of personal finance service.

The core six steps of the personal financial planning procedure are:

  • Launching and defining the customer and personal financial planner relationship
  • Get-together customer data and determining goals and expectations
  • Analyzing and evaluating the client’s financial position
  • Increasing and presenting the financial plan
  • Implementing the financial planning recommendations
  • Monitoring the financial plan and the financial planning relationship.

Benefits of ISO 22222:2005

  • Release from the Chartered Insurance Institute (CII) AF5 module
  • Enhanced compliance, because the standard helps regulatory necessities
  • Enhanced presentation
  • Promotion of an alertness of quality and professionalism, leading to better public awareness and public image
  • Make simpler and effectual processes and documentation
  • Acknowledgment from the consumer group which?
  • Standardization of good working practices
  • Enhanced sales and marketing opportunities
  • Better communication
  • Reduced risk, leading to potential reduced insurance costs