The ifs School of Finance Diploma for Financial Advisers (DipFA®) is a new qualification for financial advisers who wish to enhance their prospects by demonstrating a higher level of knowledge and skills. All parts of the DipFA® are accredited at Level 4 in the National Qualifications Framework, consistent with the professionalism proposals within the FSA’s ongoing Retail Distribution Review.

The Diploma for Financial Advisers:

• is a challenging and relevant programme of study that builds on existing adviser expertise and qualifications and reflects what advisers actually do

• is accredited at Level 4 in the National Qualifications Framework and contributes to the key RDR objective to obtain a higher-level qualification by 2012

• enhances knowledge in core areas such as regulation, investment principles, risk, taxation and personal financial planning

• uses real-life scenarios to develop the essential skills to apply this technical knowledge in practice

• is achievable within nine months assuming you have already completed a relevant benchmark Level 3 qualification

The level of DipFA® is reflected in the complexity of the technical knowledge and the mix of application and communication skills that is required for successful completion. Study and assessment comprises three elements:

Element 1
The initial period of study is oriented towards completion of the Financial Planning Principles element, which assesses knowledge and understanding of the broader financial services environment and the specific issue of assessing risk within customer advice scenarios.
Assessment of the FPP element will take place from month three and will be an electronic objective test, available at over 150 test centres nationwide, with confirmation of the results provided on the day.

Element 2
The second element is the completion of the Advanced Financial Advice coursework assignment, in month seven, designed to test technical knowledge and its application.

Element 3
The third and final element, at month nine, is a three-hour written examination combining knowledge, understanding and application of both units. This will be held at a number of UK locations and will be based on a realistic, real-life scenario that reflects what advisers need to do to provide added value to their customers in terms of detailed, technically appropriate advice delivered in language accessible to consumers. Two weeks before the exam the ifs will issue a factfind on which the examination questions will be based.

Students will be expected to formulate a report showing detailed analysis and recommendations. The pass marks are 70% for the objective assessment and 50% for the coursework and examination. Students are required to complete all three elements successfully to be awarded the DipFA®. There may be compensation for a marginal fail between the latter two assessments.

Click here for more information on our training for
Diploma for Financial Advisers ( DipFA)