The winner of the IFP David Norton Building Excellence Award has gained a top industry qualification.
West Country Financial Planning firm Old Mill has completed the internationally recognised BS 8577 certification - a framework for financial advice and planning services set out by the British Standards Institute.

Old Mill said it has become one of only 19 firms in the UK to have gained the certification.

According to The National Skills Academy for Financial Services BS 8577 specifies established best practice and processes for embedding an effective operational management system.

The NSAFS said BS 8577 is aimed at increasing client confidence by providing a consistently high standard of service.

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It said: “The standard covers the entire operational framework of the company, including the business-critical elements of business continuity, information security, client confidentiality, continual improvement, recruitment and training and development, all of which help Financial Planning professionals to operate in a true best practice manner.”

BS 8577 was developed in conjunction with industry and professional experts, consumer representatives including, Which? and Standards International.

Paula Hodge, head of Financial Planning at Old Mill, who collected the David Norton award at the 2014 IFP conference, said the certification would give potential clients the confidence that Old Mill can be trusted to provide advice which meets the highest industry standards.

She said: “BS 8577 gives us the peace of mind that comes with having put together and implemented robust business systems and processes, while it gives clients the confidence that a firm operating to the standard will be a cut above the rest.”

Michelle Hoskin, founder and director of Standards International, said Old Mill’s achievement is proof of the firm’s ongoing commitment to ensuring it delivers the best possible financial planning experience to its clients.

She congratulated the firm and said: “A great deal of care and effort went into their achieving BS 8577 as a multi-site firm. Certification is the outcome of a rigorous process in which setting standards of excellence has been fully embraced by everyone at Old Mill.”