Key facts for the Diploma in Financial Planning

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

This means if you hold a degree or professional qualification in a relevant subject, for example accounting, business or law, you could receive credits that count towards completion of the existing Diploma and Advanced Diploma qualifications. In doing so, you'll avoid duplicating learning already completed and obtain your CII qualification more quickly.

To apply for recognition of prior learning you will need to download, complete and return an application 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.

Find out more about applying for recognition of prior learning »

Entry requirements

There are no entry requirements in respect of entering for any of the units which count towards the diploma.

However, the Diploma in Financial Planning will only be awarded where you hold the Certificate in Financial Planning, or equivalent (such as FPC, CeFA or Investment Advice Certificate).

Completion requirements

To complete the Diploma you need to:

• Obtain 140 credits.
• At least 80 credits must be at Diploma level(units J01-J07, J09-J12 and R01-R04 and R06). The following can also counttowards this requirement:
  • Advanced Diploma level credits from withdrawn AFPC units;
  • One Advanced Diploma in Financial Planning unit (AF1-AF6) or a maximum of 30 non-specific Advanced Diploma credits.
• The remaining 60 credits must come from any of the examinations offered within the CII financial services qualifications framework, as listed below, or comparable offered by other awarding bodies.

Recognition of prior learning applicants should note that in order to be awarded the Diploma in Financial Planning, they must obtain at least one CII assessment pass in a Diploma-level J0 or R0 unit.

Credits awarded for commonly held financial planning qualifications include:

The following units are available:

Credit awards for equivalent units

Due to the extent of syllabus overlap, certain combinations of units will result in only one award of credits. Where two comparable units are held, the higher of the two credit figures will be added to your CII Learning Account.

However, should you wish, you may still choose to sit an 'overlapping' unit in order to enhance your knowledge.

Withdrawn units treated as equivalent:

Current units treated as equivalent (see important note below):

Important note: as the Diploma in Regulated Financial Planning (units R01-R06) is an FSA regulated qualification, all learning outcomes must be matched in order for an exemption to be given against its units. At the time of going to print it is the case that currently only units CF3 and J08 have this degree of learning outcome match against the comparable new units, R05 and R06, respectively.

Planned unit withdrawal

A degree of syllabus overlap exists between a number of R0 and J0 units.

As a result, units J01, J04 and J06 are being withdrawn and will be examined for the final time in April 2013.

The mechanics of entering for Diploma units

There is no prescribed order in which units must be taken. You select those most appropriate to your learning needs. You may sit as many exams as desired at
a single sitting, although we recommend that no more than two Diploma units per session are taken.

The recommended minimum study hours shown below will vary according to your experience and ability. The nominal pass mark is also shown. However, the actual pass mark may vary slightly from one session to another to ensure that the pass standard remains constant.

Candidates completing the Diploma and Advanced Diploma in Financial Planning often select units based on their particular area of work, or an area of financial advice they aspire to move into. The following role based study streams suggest five such examples.

The following information is applicable to candidates wishing to sit written examinations units, J01-J07, J11 and R06 during 2013.

 * Please contact Customer Service if you do not receive these. When you receive your admission permit you MUST check whether any change has been made in the date or times of the units for which you have entered and that the units shown on your permit are those that you intend to sit. If there is any discrepancy you should contact Customer Service immediately on +44 (0)20 8989 8464.

Regulatory changes brought about by the replacement of the FSA with three new financial services regulatory bodies, which include the Financial Conduct Authority (FCA), are having a significant impact on CII customers, the way you conduct your business and therefore the content of our syllabuses, study material and exams for certain exam units.

Further background on these regulatory changes can be found below under our frequently asked questions.

What do these changes mean for CII customers?

Some CII units examine on aspects of the FSA. To ensure that we're examining on current issues and regulation, syllabuses and study material for these units are being updated to reflect the upcoming changes.

When will these updates be made?

Updated syllabuses have now been published - available to download from each qualification page on this website - and will be examined from 01 Sep 2013.

For all financial services units, new study text editions will be published in July 2013 as normal.

Are there units that will be impacted by the changes more than others?

Yes, the following units have more content that will be affected:

CF1*, CF6, R01*, R05, J07, J09, J11, FA1, ER1

* These units will be particularly affected by this change

How significant will the updates be?

Changes to the regulatory regime will result in some changes to the legislative position that is being examined - this will largely consist of updating references to the FSA, and its roles and responsibilities, to the new regulatory bodies. As detailed above, some units will be more impacted than others.

Are there any changes to the current testing period that will affect the life of existing study texts?

No - because of the anticipated timing of the changes we plan to update study material for financial services units at the same time as usual. The only change to the timetable will be that updated syllabuses will be issued slightly earlier than normal (in April rather than July), but these will be examined from September as usual.

Background - what's changed?

From 1 April 2013 fundamental changes were made to the regulatory regime as the Financial Services Authority (FSA) was disbanded.

• A new regulator, the Financial Conduct Authority (FCA), is now responsible for policing the behaviour and conduct of all firms, with a focus on ensuring consumers are protected and markets work well. It is also responsible for the solvency and stability of smaller firms such as IFAs.
• The Prudential Regulation Authority (PRA) is responsible for the solvency and financial stability of the larger institutions (banks, insurance companies, etc.) whose failure could trigger a financial crisis.
• Within the Bank of England sits the Financial Policy Committee (FPC), responsible for scanning for emerging risks to the financial system.