FPI launches ‘The evolution of the financial services industry landscape’ book to celebrate industry milestones

The Financial Planning Institute (FPI), celebrated the launch of their book entitled "The evolution of the financial services landscape", at its Inaugural VIP Stakeholder Function held in Sandton, Johannesburg, to highlight the industry’s key milestones a

The book has described the past three decades as change-driven-years for the financial services industry and particularly the financial planning sector. The book also articulates noteworthy successes that have lead the financial services industry’s evolution.

Prem Govender, CFP®, and FPI Chairperson said, “The book provides some context into how the FPI and broader industry’s landscape has evolved over the years. Highlighting the industry highs and lows, and focusing on golden moments that have helped the FPI contribute to growing the industry. In sharing this book, our hope is that it’ll place a spotlight on how the FPI, as a professional body, will continue to add value to its members’ quest to being the best in their noble profession.”

“I would really like to urge my fellow industry peers and those still planning to enter this fast growing profession, to get a copy as the publication encapsulates the industry as a whole, and of course it is indeed a good read,” she added.

Some of the major highlights discussed at the event included the financial planning industry seeing an increase in the South African CERTIFIED FINANCIAL PLANNER® professionals from 1800 reported professionals in 1999 to 4500 professionals in 2013. Moreover, Financial Planning Standards Board (FPSB) having commended the FPI on achieving the highest score of 96%, for adhering to international best practice in certification.

Another achievement was the Board of Directors of South African Qualifications Authority (SAQA) approving the FPI’s application for official recognition as an independent voluntary professional body and the registration of FPI’s designations on the National Qualifications Framework.

Joe Samuels, SAQA’s Chief Executive commented, “As a professional body, FPI ensures that professional standards are current and aligned to the relevant regulatory requirements. Evidence of this has again been demonstrated by the fact that the Institute was recognised as a representative body for the purposes of performing the functions determined by the Registrar of the Financial Services Providers of the Financial Service Board (FSB). This is commendable”

“The FPI’s affiliation with and recognition by these well-established and respected organisations have helped set us apart as a bona fide professional body, from many other industry associations over the years. In turn, the FPI’s growing associations have also given members an opportunity to stand out from the rest of the other existing financial advisors out there.

These acknowledgments have also given FPI an added advantage in its future advocacy work aimed at promoting the adoption of a clear-cut policy on the role of professional bodies in the financial services industry. The FPI will continue to promote the pre-eminence and status of the financial planning professionals, in the best interest of the industry and broader society,” said Adv. Sankie Morata, CFP®, and FPI Chairperson-Elect.