We are delighted that Proposito Financial Planning has been awarded British Standard BS8577. This comes after our award of Chartered Financial Planners status by the Chartered Insurance Institute last month (see HERE). Launched in 2012, BS8577 assesses whether a firm can consistently deliver a first class service to its clients. It is the only British Standard for financial advice and planning firms. We are only the 15th firm in the UK to achieve this standard. This professional benchmark sets out a framework for the operational management of a regulated firm. It specifies established best practice and processes for embedding a robust operational management system. This enables to us to deliver a consistent service to each and every one of our clients throughout the firm. What does all this mean in English? It means that during the assessment process no stone is left unturned. For clients there are plenty of benefits: Assurance of a client-centred culture Externally verified assurance of quality of service A more professional and consistent service Evidence of commitment to continual improvement Enhanced relationships Re-assurance that regulatory requirements are being continually met Access to evidence of qualifications, experience and competency Recognition by consumer group Which? Independent and impartial detailed assessments of the firm There are some additional benefits for us too: Recognition that what we’re doing is considered best practice Additional credibility in the eyes of the Financial Conduct Authority Reduction in business risk This process has been hugely beneficial to the way Proposito is run. As a result of the pre-assessment work we have fundamentally overhauled the leadership and operational structure of the firm. This has been a significant project that has taken nearly 10 months to achieve and we’re naturally all delighted with this achievement. Not just because we are the 15th firm – an impressive achievement for such a small firm – but also because Huw said he’d shut the office early if we achieved it by 19th December 2014 – which he did!