Advanced Diploma in Financial Planning (2024)

FAQs

What level is advanced Diploma in Financial Planning? ›

The Level 6 Advanced Diploma in Financial Planning builds on existing skills and knowledge, enabling advisers to develop specialist planning capabilities and offer a sophisticated and comprehensive approach to financial management.

By completing the DipFA course, you'll be in a great position to progress with your career. Whether you're looking for a fresh start with a career in finance or you're keen to expand upon your existing skills and knowledge, this qualification has the potential to open you up to a world of new opportunities.

It will take up to nine months to complete DipFA but you'll have 17 months of study support.

Is advanced diploma equivalent to bachelor degree? That is a common question. Despite some similarities, the two are distinct qualifications. An advanced diploma can typically be finished faster than a bachelor's degree and focuses on practical skills relevant to a particular job.

1. Certified Financial Planner (CFP) Certified financial planners (CFPs) are well-versed in topics across the financial field. They assess their clients' full financial portfolio and then provide personalized financial plans.

'DipFA' is short for The Diploma for Financial Advisers. It is an FCA approved level 4 qualification and, once you pass, you are legally and confidently able to offer professional advice on retail investment. It is amongst the most highly regarded financial adviser qualifications.

What is the difference between DipFA and DipPFS? In the long term, there are no differences between the two qualifications, ultimately, they should get you to the same destination. Is DipFA better than the DipPFS? No, they both achieve the same outcome, you become diploma qualified either way.

But, if you're already working with an advisor, the simplest way to determine whether a 1% fee is reasonable may be to look at what they've helped you accomplish. For example, if they've consistently helped you to earn a 12% return in your portfolio for five years running, then 1% may be a bargain.

How long does it take to get? The CII website details “Specific study time guidelines are provided for each unit on its webpage and in the CII qualifications brochure. The notional Ofqual 'Total Qualification Time' for this qualification is 370 hours.

What is a Level 7 Diploma in Advanced financial planning? ›

Level 7 Diploma in Advanced Financial Planning

It will give you the necessary skills to build trust and help consumers in an increasingly complex advice world. The CFP process equips individuals with the following: A financial planning framework that is robust and repeatable.

The accountant and financial planner professions tend to rely heavily on math and numbers but there are major differences. Accountants do auditing work, financial forecasting, and putting together financial statements, while financial planners help individuals with wealth management and retirement planning.

There is nothing to prevent anyone of working age becoming an adviser based on age alone. However, it would be naïve to suggest there are no potential barriers for those who come to the profession late. The older someone is, the longer it is likely to be since they have taken an exam.

At a minimum, it takes about six years to become a certified financial planner. Along with earning a bachelor's degree, CFPs must have about two years of professional experience and pass an exam.

The level 4 Diploma in Regulated Financial Planning meets the FCA's qualification requirements for retail investment advisers and helps candidates to develop core technical knowledge and financial planning capabilities.

Level 7 Diploma in Advanced Financial Planning

It will give you the necessary skills to build trust and help consumers in an increasingly complex advice world. The CFP process equips individuals with the following: A financial planning framework that is robust and repeatable.

Further specialisation in a teaching subject, offered through an Advanced Diploma at Level 7, requires cognate studies in that subject at Level 6 in the entry qualification.

A level 5 qualification is a higher education certificate that demonstrates learning at university level. Individuals who take these certificates gain a strong foundation in the subject area. Level 5 education and training can be academic, vocational or a mixture of both, such as foundation degrees.

3) A Level 6 Diploma (120 credits) student will study a course equivalent to year 3 of an Undergraduate Degree, as well as a qualification that can be used to gain entry into a Postgraduate Diploma or Master's Degree programme.