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CISI raises bar with Level 7 qualification

7 March 2019

The Chartered Institute for Securities & Investment has launched a new pathway for candidates to gain the global Certified Financial Planner certification. 

The new study pathway has been restructured to raise CISIs Diploma in Financial Planning from Level 6 to Level 7 on the National Qualifications Framework, including specialist knowledge.

Candidates looking to complete the new study pathway will need to meet entry requirements for the new CISI Level 6 Certificate in Advanced Financial Planning examination, which will be followed by a financial plan assessment at Level 7. Candidates for CFP certification who have achieved the Level 7 Diploma, along with three years’ relevant experience, must complete the CISI Integrity Test, be CISI members and log annual CPD to become a CFP certificant.

CISI said those seeking to take the Level 6 Certificate in Advanced Financial Planning will need to complete 200 study hours, a recommended reading list and a narrative exam, with sittings taking place in March and September.

The syllabus for the new CISI Level 6 Certificate in Advanced Financial Planning will become available this month, with the workbook due in May. A sample exam paper will follow in July. The first exam sitting is scheduled to take place in September 2019.

Jacqueline Lockie, CISI head of financial planning (pictured), said: “We have worked hard, with the support of FPSB Ltd, the CISI Financial Planning Forum Committee, other CFP professionals and specialists, to restructure the UK study pathway to CFP certification to equip financial planners with the skills, abilities and knowledge to build robust financial plans to help clients meet their financial and lifestyle objectives.

“Our CFP professionals will make a real difference helping the public understand how financial planning can improve their financial lives.”

CISI is running a five-day financial plan assessment preparation course offering guidance and support on the key components of the plan for those on the current pathway to CFP certification. In addition, a new two-day course entitled the Principles and Practice of Financial Planning, will be starting this month. The new course is designed for those who already hold a Level 6 or 7 qualification to understand and apply best practices for building a financial plan without necessarily continuing on to study for the CFP licence.

Noel Maye, CEO of Financial Planning Standards Board Ltd, added: “FPSB welcomes CISI’s new study pathway for CFP certification in the UK, which emphasises the technical knowledge and professional skills and training needed to be able to construct and deliver effective financial plans to clients.”

He added: “FPSB looks forward to continuing to work with CISI to grow substantially the number of CFP professionals so that consumers in the UK will have increased access to competent, ethical financial planners, who put their clients’ interests first.”

At the end of 2018, there were 181,360 CFP professionals worldwide, with organisations delivering or preparing to deliver CFP certification in 26 countries and territories.

More information on the qualifications can b found here: https://www.cisi.org/cisiweb2/cisi-website/study-with-us/financial-planning


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