Aligning principles to find the right fit?

Private Client lawyers looking to develop relationships with financial planners have a lot to consider, not least of which is reputational risk. Referrals to planners can either substantiate, or detract from, a solicitor’s hard-earned professional credibility.

With well over 25,000 financial advisers across over 5,000 firms, finding sensible criteria to apply in the search for credible planners is clearly a priority.

Given the emphasis of lawyers and their regulators on professionalism, one approach could be to consider those firms and planners that hold themselves to the same high standards.

Financial planning and investment management professional bodies like the Chartered Insurance Institute (CII) and Chartered Institute of Securities & Investment (CISI) publicly state their commitment to professional standards. This should give solicitors confidence and help build trust.

Fewer than one fifth of financial planning firms in the UK have been awarded Chartered status by the Chartered Insurance Institute, a professional body dedicated to building trust in the insurance and financial planning profession.  Punter Southall Wealth is one such firm.

It’s encouraging too that professionalism was a characteristic taken into account by FT Adviser in their compilation of 2020’s Top 100 Financial Advisers list.

Acknowledging the achievements of those individual planners and firms that have been awarded Chartered status by the CII, as well as their ongoing adherence to a rigorously defined code of ethics and behavioural standards, gives the list substance.

Other factors assessed by FT Adviser unarguably matter too – growth, depth of experience and resources – but it is their professionalism that Chartered firms share with solicitors, accountants, insurers and private bankers.

As a Chartered firm, Punter Southall takes a customer-first approach and has values that align with a professional Code of Ethics. This matters to our contacts, as does our commitment to investing in the ongoing development of our people’s technical skills, knowledge and attainment.

To find out more about how Punter Southall approaches financial planning, advice and investment management, you can listen to Henry Denne, our Head of Financial Planning, share his thoughts on what made a top financial advice firm in 2020 during a recent podcast:


This communication is prepared for general circulation and is intended to provide information only. It is not intended to be construed as a solicitation for the sale of any particular investment or as investment advice and does not have regard to the specific investment objectives, financial situation, and particular needs of any person to whom it is presented. Tax treatment will depend upon individual circumstances and may be subject to change in the future.

Please also note that the value of investments, and / or the income from them, can fall as well as rise so you could get back less than you invested. The past performance of an investment should not be relied upon as a guide to its future performance. Unless indicated otherwise, comment and opinion in this publication is based on HMRC’s tax regulations for 2020/21 tax year and future proposals.

This communication has been approved and issued by Punter Southall Wealth.