ISO 22222:2005

ISO 22222:2005 has been drawn up with the objective of achieving and encouraging consumer confidence by providing a globally agreed benchmark for a high global standard of personal finance service.

The standard defines six steps of the personal financial planning procedure:

• Establishing and defining the customer and personal financial planner relationship.
• Gathering customer data and determining goals and opportunity.
• Analyzing and evaluating the customer’s financial status.
• Developing and presenting the financial plan.
• Implementing the financial planning recommendations.
• Monitoring the financial plan and the financial planning relationship.

• Motivates greater consumer confidence as standards for competent and ethical services are clearly spelt out.
• Provides a standardized, common and well-defined financial planning procedure within and across countries.
• Allow the increase of financial planning services to overseas markets with the use of regular standards.
• Supports to make sure constant delivery of service and addresses possible confusion and misunderstanding in the planner and customer relationship.