Thursday, December 08, 2005

ISO 22222: Guidance for Personal Financial Planners

The International Standards approved ISO 22222 as a satisfactory standard of personal financial planning for about 150 member countries. At the moment, the standards is voluntary both for member countries and for personal financial planners but the standard can be incorporated into binding contracts and is available for passing as legislation. ISO Committee members indicated that they would be open to revision if stakeholders found the standard unsatisfactory.

At the very minimum, personal financial planners, CPA firms and academics teaching personal finance courses will want to read and reference the standard. Time will tell whether this standard has the impact of the 9000-series quality standards. Some information is available at the ISO site linked above. Elements included are compentencies, ethical standards and experience expectations.

I acknowledge with thanks WebCPA ( for the article on this action.


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