Torquil Clark awarded Chartered status

Midlands-based IFA Torquil Clark has been awarded chartered financial planner (CFP) status by the Chartered Insurance Institute (CII).

The company, which currently has 13 advisers, joins a small band of firms awarded the same title. Currently less than 5% of UK firms have been awarded CFP status.

John Chapman, Torquil Clark managing director, says the firm also hopes to secure chartered status for all its advisers.

"Having chartered status really helps us to differentiate ourselves from the competition," he says.

Chapman says Torquil Clark is looking to team up with solicitor firms come the deregulation of the legal industry and the introduction of alternative business structures (ABSs) at the end of the year.

ABS legislation - branded the 'big bang' of the legal industry - will allow solicitor firms to align themselves with other professionals, enabling economies of scale and marketing.