The London Institute of Banking and Finance has launched its revamped Level 4 Diploma for Financial Advisers to offer a “more flexible and accessible” qualification.
Those applying for the qualification can, for the first time, study when and how it suits them. In addition, learners can also study modules in any order and pay by module, offering greater flexibility around cost.
Each module is assessed by a multiple-choice exam but the exam for the final course has been replaced by a coursework project to ensure those studying can apply their learning in practical scenarios, the LIBF said.
The DipFA is the minimum level qualification to become a financial adviser. It covers the purpose and structure of the UK financial services industry; the aims of the FCA and the rules and regulations that apply to financial advice; the different risks that might affect customers’ financial needs and the potential solutions for the main areas of financial advice.
In addition, the qualification also explores how to source and analyse client data; how to create, implement and maintain financial plans and how to formulate and communicate financial advice.
John Somerville, director of financial services, professional education at LIBF, said it had sought feedback from advisers to help create a qualification that meets the needs of the “fast-moving industry.”
“We’ve listened to what the sector wants, in particular to move away from formal exams and focus on the on-going assessments that really test the skills and knowledge advisers need to be successful for clients and companies,” said Somerville.
“The refreshed DipFA is more flexible, more accessible and enables advisers to immediately use what they’re learning in the workplace, building on what was already a more practical approach.”
Learners can now register for the updated qualification on the LIBF website or via one of its accredited partners.
