I want to be a retail investment adviser

DipFA® is a prestigious, benchmark qualification that meets the standards required for those giving professional advice on retail investment products. It is recognised by the industry’s regulator, the Financial Conduct Authority (FCA).

The programme is open to people who already hold the Certificate in Mortgage Advice and Practice (CeMAP®) qualification and want to expand their skills to offer advice on other products, or to new starters who wish to advise on retail investment products only.

How is the training delivered?

Training for the DipFA® qualification is delivered online so you can learn at a time and place convenient for you.

You’ll have unlimited access to a wealth of digital learning content as well as trainer surgeries and virtual revision sessions. Membership to the London Institute of Banking & Finance (MyLIBF) is also included for the full duration of the programme.

How will I be assessed?

• Financial Services Regulation & Ethics (FRSE) Exam – 2 hours
  Section A - 90 multiple choice questions
  Section B – 2 Case studies, 5 multiple choice questions each
  Pass mark 70%
• Advanced Financial Advice (AFA)
  Coursework submission (30% of unit)
  Maximum 4,000 words plus short answer questions
  Pass mark 50%
  Final written exam (70% of unit)
  3 hour written Suitability Report
  Pass mark 50%

How long will it take?

The programme takes 30 weeks to complete.

How much does it cost?

The maximum total cost for the DipFA® programme is £6,500.

This cost can differ depending on individual circumstances, so please get in touch with us to confirm the cost for you. We may be able to help you to secure a work placement which may help to cover some or all of these costs.

DipFA® is a benchmark qualification that meets the standards required for those giving professional advice on retail investment products. It is recognised by the industry’s regulator, the Financial Conduct Authority (FCA).

Unit 1 – Financial Services, Regulations and Ethics (FRSE) - learning outcomes

On completing this unit, you will understand:

• the UK financial services industry, in its European and global context
• how the retail consumer is served by the financial services industry
• the regulation of financial services
• the Financial Conduct Authority’s responsibilities and approach to regulation
• the principles and rules as set out in the regulatory framework
• the legal concepts relevant to financial advice
• the different types of risk and how they relate to institutions and individuals
• the skills required when advising clients
• the Financial Conduct Authority’s principles based approach to promote ethical behaviour
• the Code of Ethics and professional standards
• the differences between ethical and unethical behaviour.

Unit 2 – Advanced Financial Advice (AFA) – learning outcomes

On completing this unit, you will understand:

• the UK taxation system in relation to individuals and trusts
• taxation of investments in relation to individuals and trusts
• the role and relevance of taxation in the financial affairs of individuals and trusts
• personal taxation in relation to investment advice
• the macro-economic environment and its impact on asset classes
• the main characteristics and behaviours of asset classes
• the merits and limitations of the main investment theories
• the principles of the time value of money
• the nature and impact of the main types of risk on investment performance
• the characteristics and behaviours of investment products
• the principles of investment planning
• the investment advice process
• the performance of investments
• the areas of need for financial protection planning
• the consumer and retail market factors and trends relevant to financial protection
• the main sources of financial protection
• the role and limitations of state benefits for financial protection
• the range and application of life assurance policies to meet financial protection needs
• taxation treatment of life assurance and pension-based policies
• the range and application of income protection insurance
• the range and application of critical illness insurance
• the range and application of long term care insurance
• the main features of other insurance based protection policies
• the needs and priorities in selecting appropriate financial protection solutions
• the political, economic and social environmental factors which provide the context for pensions planning
• how the HMRC taxation regime applies to pensions planning
• the relevant aspects of pensions law and regulation to pensions planning
• the structure, relevance and application of the state schemes to an individual’s pension planning
• the structure, characteristics and application of Defined Benefit (DB) schemes to an individual’s pension planning
• the range of Defined Contribution (DC) scheme options as they apply to an individual’s pension planning
• the options and factors to consider for drawing pension benefits
• the aims and objectives of retirement planning including the investment issues
• the process of gathering client information for holistic financial planning
• how to formulate and communicate holistic financial advice
• how to create, implement and maintain financial plans.