Chartered Wealth Manager Qualification
Formerly known as CISI Masters in Wealth Management

(CISI Level 7 Diploma in Wealth Management)


The Chartered Wealth Manager Qualification offers wealth managers (including discretionary portfolio managers, private bankers, IFAs and others dealing with high net worth clients) a postgraduate level specialist qualification encompassing the breadth of knowledge needed to provide a high quality service to clients.

It is a postgraduate level professional programme awarded by the leading professional body in the investment sector and upon completion, candidates may be eligible to apply for the CISI's Chartered Wealth Manager designation.

 
Key features of the Chartered Wealth Manager Qualification

  • Highly regarded qualification developed in consultation with leading stockbrokers, investment banks and industry trade bodies, including the Wealth Management Association (WMA)
  • In line with the RDR exam standards and FCA compliant for the following six regulated activities: advising on and  dealing with securities and derivatives, and advising on packaged products and managing investments
  • Specialist qualification offering candidates in-depth knowledge of investment issues
  • Client-focused practical qualification with around 40% of the study time allocated to working with client case scenarios
  • Equips advisers with a qualification which will help build client confidence and trust
  • Recognised by financial services recruiters as the best qualification for roles in wealth management
  • Flexible study options, as the programme allows candidates to spread their studies over an 18-month period
  • Provides a sound grounding in Economics and Interpretation of Economic Statistics, Financial Statements, Investment Analysis, Portfolio Construction and Applied Wealth Management
  • Earn CPD hours upon successful completion of the qualification
  • Successful completion of the qualification leads to full membership of the Institute and MCSI designatory letters
  • Route to obtaining Chartered Wealth Manager designation


Qualification Structure

This progressive award is achieved by successfully passing three 3-hour narrative units:

 Financial Markets
Syllabus Summary
  • Economics and Interpretation of Economic Statistics
  • Financial Statements
  • Investment Mathematics
  • Asset class risks and returns
 Portfolio Construction Theory
Syllabus Summary
  • Investment Theory
  • Asset Allocation Strategies
  • Behavioural Finance
  • Portfolio Performance
  • Taxation
 Applied Wealth Management
Syllabus Summary
  • The Adviser-Client Relationship
  • Cash Management
  • Financial Protection Against Risk
  • Pension Wrappers
  • Other Investments
  • Methods of Portfolio Protection
  • Taxation & Trusts

Ofqual

The Chartered Wealth Manager Qualification is recognised by Ofqual as a level 7 Diploma in Wealth Management and is regulated as a level 7 qualification on the Qualifications Credit (QCF) Framework. On the European Qualifications Framework, this equates to a level 7 qualification.

To see when the next sitting of the Narrative exams are please see the Narrative exam timetable.

Exemptions

Exemption will only be considered in respect of Financial Markets. To apply, download the Chartered Wealth Manager Qualification exemption form.

Exemption from the Financial Markets exams costs £75.

Exemption from the Financial Markets unit will be granted to ACCA holders and CFA Charterholders.

MSc/MA degrees in relevant disciplines where there is a strong match with the content of Financial Markets unit will be considered.

Exemption from Financial Markets will be granted to holders of the IAD where candidates have passed UK Regulation and Professional Integrity, Investment Risk and Taxation, one of Securities or Derivatives and level 5 Private Client Advice.

Candidates who have passed the CISI Diploma unit of Private Client Investment Advice and Management and have completed the Core, Securities and Derivatives gap-fill for RDR purposes, will be exempt from Unit 1 (Financial Markets) of the Chartered Wealth Manager Qualification, and can progress directly to Unit 2 (Portfolio Construction Theory).

No exemptions are available for either Unit 2 (Portfolio Construction Theory) or Unit 3 (Applied Wealth Management) of the new Chartered Wealth Manager Qualification.

Combining CISI Diploma and Chartered Wealth Manager Qualification units
Although candidates will achieve the Chartered Wealth Manager Qualification only on completion of the designated units, they may also take ONE of these units as part of the existing CISI Diploma. However, as much of the material in the existing CISI Diploma units has been rearranged across the new programme, there is a natural overlap of study material.

As such, certain existing units may not be taken in conjunction with the Chartered Wealth Manager Qualification to achieve the CISI Diploma. Specifically, to achieve the CISI Diploma a candidate may not take:
  • Financial Markets with Interpretation of Financial Statements or Investment Analysis
  • Portfolio Construction Theory with Fund Management or Private Client Investment Advice & Management
  • Applied Wealth Management with Private Client Investment Advice & Management

Study Options

  CISI learning manuals are available for:
Please note: The CISI's mandatory learning manual policy requires, where available, the most up to date CISI learning manual to be purchased when booking an exam, including by an ATP on your behalf. This applies to all candidates sitting CISI exams in the UK (includes Northern Ireland, Guernsey, Jersey and Isle of Man). Candidates sitting CISI exams outside of the UK will receive the most up-to-date workbook in PDF format for that subject and is included in the international exam price.


Accredited Training Providers
The CISI accredits a wide range of training providers to deliver formal training for our exams and you can register directly with the provider of your choice. Courses are available for:
  • Financial Markets
  • Portfolio Construction Theory in Wealth Management
  • Applied Wealth Management
Find an Accredited Training Provider (ATP) near you


Sample Papers
A range of sample exam questions and/or examiner reports are available for:

Entry Criteria

It is a requirement that all canidates hold an appropriate benchmark qualification prior to enrolling in the Chartered Wealth Manager Qualification.

Appropriate qualifications acceptable for entry to the Chartered Wealth Manager Qualification, include the following:

  1. Investment Advice Diploma (IAD) or any other RDR compliant qualification, including a qualification that is RDR compliant with gap fill (even if the gap fill is not actually carried out)
  2. Any Level 3 benchmark qualification, such as the CISI's Capital Markets Programme (ie one including a regulatory paper and a specialist technical element)
  3. International Certificate in Advanced Wealth Management
  4. IMC Level 4 (without the need for CFA1)
  5. UK full accountancy and actuarial qualifications*
  6. MBAs/MScs in financial disciplines which have a strong investment related element that the CISI deems relevant
  7. CFA
  8. CEFA
  9. Overseas qualifications where these are recognised by the FCA, eg FINRA, SAAJ, JSDA
  10. EFPA (European Financial Planning Association)
  11. Overseas qualifications where the applicant can demonstrate that the number of study hours, the form of assessment and the content (which should have a strong investment related element) are appropriate to prepare them for study at Masters level
  12. Any financial services related qualification (not unit) at Levels 5-7 (eg the CISI Diploma)
We will not take into account experience, as the impact of this on the ability to undertake a high level professional qualification cannot be known. 

For further information about this requirement, please email exam.eligibility@cisi.org

*excluding AAT

Register and Book

Register with the CISI
New candidates intending to take CISI qualifications need to first register with the CISI. Upon registering, you will receive a candidate number, password and access to the CISI's online systems.


Book your exams
Candidates can book:

Register for your qualification
After booking your exams you need to register for your qualification. Please be sure you have read and understood the exam regulations and policies.

The latest prices for exams are listed on the online price list.

Post Qualification Opportunities

Membership
Obtaining the Chartered Wealth Manager Qualification entitles candidates to join the Institute at MCSI  Membership level. As a member of the Institute, you will enjoy the recognition of being a professional in a world of increasing competition. The extensive continuing professional development (CPD) opportunities available through the CISI’s suite of membership benefits ensures financial services practitioners can maintain competence and meet the requirements of firms and the regulator.

You can also strive to obtain the CISI’s Chartered Wealth Manager designation by meeting the following criteria:

Chartered Wealth Manager


Further Qualification Opportunities

•  MSc in Wealth Management - Cass Business School
A part-time MSc, this course is designed for practitioners in full-time employment already working in the financial services sector. To be eligible to commence this MSC candidates must have completed the Chartered Wealth Manager qualification.

• MBA programme - Henley Business School, University of Reading
The Henley Business School at the University of Reading is accepting on to its MBA course candidates who have passed either the CISI level 6 Diploma or the Chartered Wealth Manager Qualification, provided they have at least three years of management experience.