Chartered is new benchmark
News
Publication date:
15 October 2019
Last updated:
18 December 2023
Author(s):
Personal Finance Society
In 2018 Chartered financial planners earned £105,138, roughly 5 per cent more than advisers with a level four qualification (£99,697), according to a survey by specialist recruitment consultancy BWD.
BWD’s annual survey of 873 financial services professionals found 14 per cent of the advisers they polled expect to attain Chartered status this year or next. Bret Jackson, head of communications for BWD, said this will create a clear majority for the Chartered planner set.
He said: “Unless there is a material increase in new advisers coming in at ‘entry level’ QCF level four then it looks like Chartered is the new benchmark. Older advisers or those approaching retirement may of course elect not to seek Chartered status – otherwise we see most advisers taking this step.”
BWD’s survey also showed total average earnings for financial advisers – incorporating salary and bonuses – for 2018 was reported to be £99,701.
In 2018 advisers who were directly authorised earned £99,298 – almost 18 per cent more than those who are members of networks, who earned on average £84,409.
Self-employed advisers’ earnings for 2018 were recorded by BWD as £98,472.
