The Institute of Financial Planning (IFP) has launched its new Accredited Financial Planning Firms’ Register.

It says the register will help consumers identify those firms who are not only committed to providing a comprehensive Financial Planning service but also to a professional code of ethics and practice standards.

The firms are assessed for entry onto the register by the IFP, the professional body for Financial Planners, which celebrated its 25th Anniversary last week at its annual conference.

At the event, IFP CEO Nick Cann announced the names of the first 25 firms who have met the standards set by IFP for acceptance as an Accredited Financial Planning Firm.

To be recognised as an Accredited Financial Planning Firm, firms must demonstrate their commitment to the highest levels of professionalism through the calibre of their staff and the comprehensive Financial Planning service they provide to clients. This must include cash flow modelling.

IFP has set stringent criteria which firms need to satisfy in order to successfully join the register. These also include having a “clear and visible”” investment philosophy and a consistent and company-wide fee structure.