Certificate in Financial Planning
The benchmark qualification for financial advisers.
The Certificate in Financial Planning reflects the commercial realities of the market.
The qualification will develop your knowledge and understanding of regulatory issues, the mechanics and purpose of the main investment products on offer and the process of giving advice to clients.
It also addresses the subject of investment and risk, an area highlighted in recent years as a weakness on the part of many existing financial advisers. Holders can apply to use the designation ’CertPFS’.
Qualifications offered by the CII demonstrate a holder’s commitment to their chosen profession and provide an objective measurement of their knowledge and understanding of the business in which they work.
The Certificate in Financial Planning reflects the many recent changes in the financial planning industry. Its course content reflects the commercial realities of the market and the requirements of the Financial Services Authority (FSA) and the Financial Services Skills Council (FSSC) with regard to ‘appropriate’ qualifications for financial advisers. Importantly it also addresses the subject of investment and risk, an area highlighted in recent years as a weakness on the part of many existing financial advisers.
To ensure the right subject coverage in the Certificate, the CII consulted widely with product providers, intermediaries, trade associations and the regulator in developing this qualification. The result is a financial planning qualification that is effective, practical and comprehensive.
By completing the Certificate you will gain a solid grounding in the financial services market in general and financial planning advice in particular. The qualification will develop your knowledge and understanding of regulatory issues, the mechanics and purpose of the main investment products on offer and the process of giving advice to clients.
Successful completion will allow you to demonstrate your sound knowledge and understanding of the market and will confirm your ability to function effectively within it as a qualified provider of financial advice.
Upon completion of the Certificate in Financial Planning you will be eligible to apply to use the designation ‘CertPFS’ (membership and Continuing Professional Development requirements apply). You will also satisfy the entry requirements for the next qualification in the framework of CII qualifications, the Diploma in Financial Planning and receive recognition, in the form of 70 credits, towards the 140 required to complete this.
The Certificate also caters for the broad range of needs that exist within the wider financial planning market:
Mortgages– candidates can meet the regulatory examination requirements by sitting the appropriate papers within the Certificate. For those specialising in equity release activities, there is also the option of additional units on this subject.
Long term care insurance– this is an area of increasing importance for many advisers and organisations and has been identified as such by the regulator. This is why the CII has developed a long term care insurance unit.
Pensions– in the post-06 April environment, it is essential that pensions advisers meet the new regulatory requirements. The CII offer a standalone unit – the Pensions Simplification Update Programme, designed to develop knowledge and understanding of the changes affecting the pensions market.
There are also options for those employed in the diverse range of non-advisory roles that exist within the industry. They have the ability to sit individual units rather than committing to completing an entire qualification. Further details of these options can be found in the section Units and requirements.
Qualifications and Curriculum Authority (QCA) accreditation
The Certificate is accredited with the QCA as ‘CII Level 3 Certificate in Financial Planning’ and is included in the National Qualifications Framework. For further information please refer to the QCA website at www.qca.org.uk
Funding may be available for candidates studying for qualifications listed in the National Qualifications Framework. For further details, please refer to the Learning and Skills Council website at www.lsc.gov.uk
Note:For QCA accredited qualifications, ‘the regulatory authorities’ logo(s) on the certificate indicate that the qualification is accredited only for England, Wales and Northern Ireland.
Why the Certificate in Financial Planning?
The Certificate delivers many advantages:
- As a holder you will meet the FSA regulatory examination requirements and the ‘appropriate’ examination standards for financial advisers as published by the FSSC.
- Develops a broad-based knowledge and understanding of core financial planning topics.
- Provides online exam sittings that enable you to enter for the exam when you are ready, with provisional results provided instantaneously.
- Upon completion you are entitled to apply to use the designation ‘CertPFS’ – the industry designation for financial advisers (membership and Continuing Professional Development requirements apply).
- A ‘Record of Achievement’ is awarded on completion of each unit and a ‘Certificate in Financial Planning' is awarded on completion.
- Improves your long term career prospects by enhancing your range of skills, thereby increasing earning potential and job security.
- Meets the entry requirements for the Diploma in Financial Planning and importantly, provides credits that are recognised towards completion of this higher qualification.
Is the Certificate in Financial Planning right for me?
If you are planning to work as a financial adviser, you will need to hold appropriate examinations leading to a qualification such as the Certificate in Financial Planning. This is also suitable for a range of financial services staff employed in related roles.
Specifically, the Certificate is appropriate for:
- Anyone who gives financial advice to clients, including independent financial advisers, tied agents, para-planners and other staff such as pensions specialists and financial analysts.
- Financial services administrative and technical support staff.
- Staff employed in support functions such as training, compliance, human resources, marketing, IT and finance who wish to improve their understanding of the business in which they work.
- Financial planning staff who wish to progress to higher qualifications such as the Diploma in Financial Planning.
Your next step
Now that you have read about the Certificate in Financial Planning, gained an understanding of what it offers and decided that it meets your career development plans, it is time to finalise your entry.
The Certificate in Financial Planning section contains all the information you require to study for and complete this qualification. As you read through this, you will learn about the units on offer, the available learning materials, terms and conditions relating to entry, and the different ways you can enter.
Please take the time to read this, as it will help you choose the study programme that best fits your needs.
To help you prepare for the CF5 examination a free CF5 Examination Technique Guide is available in the Downloads section below.
Prizes
Each year the CII may award a number of prizes for exceptional performance in its qualifications. These prizes cover a variety of situations, such as completing a qualification, the best performance in a single unit or certain groups of units, and exemplary performance by those working in certain sectors of the industry. The prizes are sponsored by a wide range of organisations within the insurance and financial services industry.
Should you not wish your contact details to be given to the sponsor of a prize for which your exam performance may make you eligible, you should indicate this by ticking the appropriate box in the ‘Declarations’ section of the application form.
Certificate in Financial Planning - Worshipful Company of Insurers Prize £300
