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News
Why it matters
Experienced mortgage advisers and trade and transaction banking specialists have a route to become Chartered Members, following an announcement by the London Foundation for Banking and Finance (LFBF) and LIBF, part of Walbrook Institute London.
The two organisations have worked together to modernise the Chartered Member designation for LIBF members in specialisms where LIBF does not offer a Level 6 qualification pathway to Chartership.
The Chartered Member designation supports the sector and FCA’s work to further improve standards and support customers through measures like Consumer Duty.
The three tiers of Chartership
LFBF will not be making any changes to its Chartered Associate or Chartered Fellow statuses, which remain the pinnacle of its Chartership offer.
Most LFBF Chartered Associates are experienced financial advisers and banking specialists who have completed a level 6 qualification. Chartered Fellows are required to meet the criteria for Associate status, plus have 20 years of relevant banking and finance experience – of which at least five must be at a senior level. Charterships are awarded by the London Foundation for Banking and Finance, and administered by LIBF.
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In their words
Chartered status is the hallmark of professionalism, recognising not only technical expertise in banking and finance but also a steadfast commitment to ethical practice, continuous professional development and delivering positive outcomes for customers. We're delighted to partner with LIBF to create a pathway to Chartered status for skilled and experienced professionals. As the organisation responsible for awarding Chartered status, we're proud to recognise the highest standards in banking and finance. We hope this pathway will enable more professionals to achieve Chartered status and further strengthen trust, excellence and professionalism across the sector.
Consumer trust and professional standards in financial services are under the microscope like never before, and the firms we’ve spoken to are incredibly supportive of this new development. As one of the biggest financial education and member organisations in the UK, we’re committed to raising the profile of the sector, and opportunities for individuals to demonstrate their professional standards and ethics. We’re proud to work with LFBF to offer this new Chartership route to experienced mortgage advisers and trade and transaction specialists and give them a clear pathway to higher professional recognition. We hope that many mortgage and trade and transaction banking specialists will take up this new opportunity to demonstrate their continuing commitment to ethics and professional standards.
