Business degrees
The following 3 examples illustrate different routes to CII qualifications and membership designations.
- Andrea has a BSc (Hons) Business degree
- Marie has a BSc (Hons) Economics and an MBA
- Eugenie has a business degree that CII hasn't previously reviewed.
They join the Personal Finance Society and renew their membership annually to maintain their professional designations.
Other routes are available and the examples don't guarantee that all applications will receive the same prior learning award.
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1 Business degree - 55 CII prior learning credits
Andrea recently graduated from a UK university with a BSc (Hons) in business and started a role as a trainee financial adviser. She plans to complete the CII Level 4 Diploma in Regulated Financial Planning and Level 6 Advanced Diploma in Financial Planning qualifications.
Aware that prior learning awards can and do change over time, Andrea applies promptly and claims her prior learning offer of:
- one set of 25 Diploma-level non unit-specific credits, and
- one set of 30 Advanced Diploma-level non unit-specific credits.
Level 4 Diploma in Regulated Financial Planning
Whilst these sets of non unit-specific credits do not reduce the six core (R01-R06) units she requires to complete the CII Level 4 Diploma in Regulated Financial Planning, they may contribute towards the CII Level 6 Advanced Diploma in Financial Planning, thereby reducing the CII unit passes required to achieve the Chartered Financial Planner title.
She passes all six core (R01-R06) units. Once she completes the qualification, as a CII member, she is eligible to use the DipPFS professional designation. She now has 155 CII credits.
Level 6 Advanced Diploma in Financial Planning
Andrea passes six more units to achieve the Level 6 Advanced Diploma in Financial Planning. This includes the core (AF5) Financial planning process unit at Advanced Diploma level, plus at least two more Advanced Diploma-level units attracting 30 credits each.
These units total a minimum 290 CII credits, with a minimum 120 CII credits at Advanced Diploma level.
She upgrades her DipPFS professional designation to APFS.
Additional CII qualifications and professional designations
Andrea's choice of units adds to her FCA permissions and the breadth of advice that he can provide. This is underpinned by CII her achievement of more CII qualifications and professional designations within her route:
- Her R01 and J10 passes lead to the CII Level 4 Certificate in Discretionary Investment Management qualification CertPFS (DM) designation *
- Her R01, R02, R03 and J12 passes lead to the CII Level 4 Securities Advice and Dealing qualification, and CertPFS (Securities) designation **
- Her CF8 pass leads to the CII Level 3 Award in Long Term Care Insurance
Chartered Financial Planner title
Once she completes five years of sector experience, she applies for the prestigious Chartered Financial Planner title to accompany her APFS designation.
Prior learning awards for degrees cost 50% of the price of CII qualification units.
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2 Two business degrees - 60 (maximum) CII prior learning credits
Marie graduated with a bachelor's degree in economics and an MBA and is currently working as a trainee financial adviser.
The Exemptions Search on the CII website states that for her bachelor's degree she could receive a set of 25 Diploma-level non unit-specific credits and a further set of 30 Advanced Diploma-level non unit-specific credits. For her MBA, the maximum prior learning award is two sets of 30 Advanced Diploma-level non unit-specific credits.
However, the prior learning scheme rules tell Marie the maximum eligibility for both degrees is 60 (two sets of 30) prior learning credits. Marie makes her prior learning applications (one application per degree) on the same date to enable CII to determine the optimum permutation across both degrees:
- two sets of 30 Advanced Diploma-level non unit-specific credits.
Marie claims the offer in full. This now appears on her CII learning statement.
Level 4 Diploma in Regulated Financial Planning
Whilst these sets of non unit-specific credits do not reduce the six core (R01-R06) units she requires to complete the CII Level 4 Diploma in Regulated Financial Planning, they may contribute towards the CII Level 6 Advanced Diploma in Financial Planning, thereby reducing the CII directly assessed units to achieve the Chartered Financial Planner title.
She passes all six core (R01-R06) units. Once she completes the qualification, as a CII member, she is eligible to use the DipPFS professional designation.
She now has 160 CII credits.
Level 6 Advanced Diploma in Financial Planning
Marie passes five more units to achieve the Level 6 Advanced Diploma in Financial Planning. This includes the core (AF5) Financial planning process unit at Advanced Diploma level, plus at least two more Advanced Diploma-level units attracting 30 credits each.
These units total a minimum 290 CII credits, with a minimum 120 CII credits at Advanced Diploma level.
She upgrades her DipPFS professional designation to APFS.
Additional CII qualifications and professional designations
Marie's choice of units adds to her FCA permissions and the breadth of advice that he can provide. This is underpinned by CII her achievement of more CII qualifications and professional designations within her route:
- Her R01 and J10 passes lead to the CII Level 4 Certificate in Discretionary Investment Management qualification CertPFS (DM) designation *
- Her R01, R02, R03 and J12 passes lead to the CII Level 4 Securities Advice and Dealing qualification, and CertPFS (Securities) designation **
- Her R01 and CF6 passes lead to the CII Level 3 Certificate in Mortgage Advice qualification and Cert CII (MP) designation ***
- Her R01, CF6 and J07 passes lead to the CII Level 3 Certificate in Advanced Mortgage Advice qualification and Cert CII (MP) designation ***
Chartered Financial Planner title
Once she completes five years of sector experience, she applies for the prestigious Chartered Financial Planner title to accompany her APFS designation.
Prior learning awards for degrees cost 50% of the price of CII qualification units.
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3 Business degree - 25-60 CII prior learning credits
Eugenie recently graduated from a university with a business degree that CII hasn't previously reviewed. The degree is registered within a regulatory qualification framework and appears on the UK ENIC database. This meets the criteria for CII to offer Eugenie a prior learning award benchmarked to similar degrees:
- one set of 25 Diploma-level non unit-specific credits.
Eugenie's application outcome contains an invitation to provide qualification syllabus and assessment material for the CII qualification mapping exercise. Eugenie provides this material within three months and CII determines that it meets the requirements to upgrade the outcome to the maximum prior learning award. For this masters degree, this is:
- two sets of 30 Advanced Diploma-level non unit-specific credits.
Eugenie completes CII qualifications in a similar manner to Marie (above).