The FSA's Retail Distribution Review (RDR) is a watershed in the development of the financial advice profession. It argues that advisers should reach and maintain true professional status.

This implies that most advisers will need to undertake further professional development and acquire an additional qualification.

The Diploma in Financial Planning has been identified as the likely benchmark qualification.

This following guidance is designed to help FPC, Certifcate in Financial Planning or equivalent holders such as yourself to understand:

• what is involved in completing the Diploma
• what you personally need to do to complete
• which study route is most appropriate

Completing the Diploma in Financial Planning

The thought of recommencing study for a higher professional qualification may appear daunting.

Common queries include:

• where you stand at present
• how best to get started
• what sort of time commitment will be required
• how much it will cost
• what help is available in terms of study and revision materials?

Choose your study path

You select from the available options thereby creating a learning programme that matches with your job role or career aspirations. Subject to the requirement of having a minimum of 80 Diploma level credits and 140 credits in total, it is your choice how you complete the Diploma in Financial Planning. Note: For the Diploma to be awarded you must hold the FPC, Certificate in Financial Planning, CeFA or equivalent).

The following links detail the completion routes typically followed by advisers employed in a range of roles in studying for the Diploma:

Accessing your CII 'Learning Account'

As someone holding the FPC or equivalent you already have or are eligible to claim credits that can be used towards the Diploma.

To find out what credits you already hold, you can submit a request for your personal ‘Learning Statement’. This will list the credit values for each exam you have completed with the CII together with those from other awarding bodies you have told us about.

Using this together with the information contained within the Simple Guide you can decide on the units you want to complete.

Recognition of prior learning

Under a scheme known as ‘Accreditation of Prior Learning’ the CII provides recognition, in the form of exam credits, for previous relevant study undertaken.

This takes the form of Diploma and Advanced Diploma in Financial Planning credits to individuals holding relevant UK-awarded Business, Economics, Accounting & Finance and Law qualifications obtained in the last 10 years.
Click here for full details.

In turn, these can (subject to the specified qualification completion requirements) be used towards completion of the Diploma, Advanced Diploma and attainment of Chartered Financial Planner status.

To apply for accreditation of prior learning click here and complete and return the form to Customer Service. On successful validation of your application, a fee of £3 PFS/CII members and £4 non-members per credit is payable.

Your next step

Having read through the above and decided how you want to proceed, it's time to finalise your entry.

Full details on the available subjects can be found in the ‘Diploma/Advanced Diploma in Financial Planning’ brochure or the ‘Certificate qualifications for the advice sector’ brochure or call Customer Service on +44(0)20 8989 8464.