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CISI promotes level 7 amongst younger financial planners

19 June 2019

The Chartered Institute for Securities and Investment is urging young people who are following a career in financial planning to choose the global CFP certification. 

The new certification, which has been restructured to raise CISI’s Diploma in financial planning from Level 6 to Level 7, will be the UK’s highest level qualification for financial planners.

Candidates who have achieved the Level 7 diploma, along with having completed three years’ relevant experience, the CISI Integrity Test and are CISI members and log annual CPD, are eligible to become a CFP certificant.

The CISI said the certification demonstrates to the consumer that the financial planner is “committed to professionalism” and has met “rigorous competence, ethics and professional practice standards” to provide financial planning services.

Jacqueline Lockie, head of financial planning, CISI, said: “The 360 degree, holistic approach offered by the CFP pathway means that consumers are engaged in a two-way conversation with a financial planning professional who puts their financial wellbeing and life goals first, with any discussion on products featuring at the end of this advice process.

“The new generation of young people choosing financial planning as a career want to act with integrity and do the right thing for the consumer and the CFP designation is the globally respected credential which can match their personal ethics.”

A recent survey by the Financial Planning Standards Board revealed that of those financial planners who had achieved their CFP certification, nearly three quarters (72%) reported an increase in job satisfaction. In addition, 37% reported they had got a new job, earned a promotion or started their own practice.

Lockie added: “It has been 10 years since the CFP was last reviewed. During this time both the market and the complexity of the financial advice required has changed. The new Level 7 recognises this complexity and now equips the licence holder with the skills to meet this demand.”

The CFP course workbook is available, with a sample exam paper ready in July. The first exam sitting will take place on 19 September 2019.

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