The completion date for the merger is planned for 1 November. Over the next few weeks, the CISI (Chartered Institute for Securities & Investment) will be working closely with the board and the IFP and FPSB UK teams in Bristol to move forward the transition.

IFP business continues as normal during this period. This includes the IFP Annual Conference, which takes place next week from 5-7 October at the Celtic Manor Resort in Wales, for which there are record numbers of delegates attending. Representatives from the CISI will also be attending the event at Celtic Manor Resort in South Wales.

Rebecca Taylor FIFP, CFP^CM, President of IFP, said: “We’re excited that this merger is now going ahead. It represents a very positive step forward for the IFP, the CISI and the UK Financial Planning profession and provides significant opportunities for growth going forward.

"The IFP can be very proud of its achievements to date. We have brought Financial Planning from an unknown niche discipline to the brink of a widely recognised and respected profession. It is now time to take Financial Planning to a new level, to make it accessible to more people and to integrate Financial Planning principles into mainstream advisory businesses.

"With the combined strength of both the IFP and CISI we can achieve more than could ever be realised alone. We have started to learn about the CISI through this process, meeting the individuals and understanding the culture. Those individuals are like our own IFP team, passionate, knowledgeable and committed. This combined expertise leaves us confident for the future of Financial Planning. The members of both organisations are professional individuals, we will all benefit from learning from each other, in the open and sharing manner that the IFP is famous for.”

The IFP has also announced that its chief operating officer and interim chief executive Steve Gazzard CFP^CM will be stepping down from his position at the IFP with effect from today. IFP CEO Nick Cann CFP^CM, who has been on long term sick leave from his role since suffering a stroke in March 2013, has also left the business by mutual agreement.

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Ms Taylor said: “Steve has done an outstanding job for the IFP over the past seven and a half years whilst Nick has made a massive contribution to the success of the IFP since he joined in 1999. Both have played such an important part in driving forward the Financial Planning profession.

“The IFP Board and I wish to say a very big thank you to both Steve and Nick for the massive contribution they have made to the development of the IFP and the Financial Planning profession. Their strong leadership, commitment and enthusiasm for the Financial Planning profession and the IFP in particular have been so inspiring to IFP members, the Board and IFP staff alike. We wish them well for the future in whatever they choose to do.”

The IFP says it will be moving into an exciting new phase and has appointed a senior project manager in Richard Lee, who will oversee the ongoing transition between the IFP and the CISI.

He is currently working from the IFP office in Bristol where he will support the IFP staff in conducting business as usual and also manage the transition of the business. He is a Chartered Accountant with more than 30 years’ experience, including 20 years of organisational change management and business transformation.

Steve Gazzard CFP^CM said: “I want to thank all those members and other supporters who have said yes to the many favours I've asked and who have supported me personally.

“I am grateful for the support of IFP staff, humbled by their incredible commitment and lucky to have made so many new friends. Everyone connected to the IFP can be proud of what it has achieved in developing the profession of Financial Planning and I am thankful for the opportunity to have played a small part in that journey.”

The IFP is the UK professional body for Financial Planners and Paraplanners and was formed in 1986. It has a membership of approximately 2,200 members including 1000 CFPCM professionals.