FCA approval of new CISI level 4 Financial Planning & Advice exam means clear qualifications pathway to global CFPTM certification

by Lora Benson | Sep 28, 2016

The FCA this week has approved the new CISI level 4 Financial Planning & Advice exam, confirming it meets the needs of employees advising on retail investment products and friendly society tax-exempt policies (FCA activities 4 and 6) when taken as part of the CISI’s Investment Advice Diploma (IAD).

This means that the CISI is now able to offer candidates an FCA approved, RDR-compliant direct study pathway leading to the level 6 Diploma in Financial Planning and the globally recognised CERTIFIED FINANCIAL PLANNERTM certification, the pinnacle designation for financial planning.

The new level 4 Financial Planning & Advice exam will sit within the CISI’s level 4 Investment Advice Diploma (IAD) and will also become the first unit of the CISI Certificate in Paraplanning.

Candidates who achieve the new IAD pathway (Financial Planning & Advice) will not only meet the eligibility requirement for the CISI level 6 Diploma in Financial Planning (of holding an RDR compliant qualification) which leads to the CFPTM certification, but will also have already completed the first unit of the Diploma,  therefore having only the financial  plan assessment to complete.

Simon Culhane, Chartered FCSI and CISI Chief Executive said: “We are delighted to have received FCA approval now for our new level 4 Financial Planning & Advice exam, which provides core knowledge in the areas of financial protection, pensions, retirement and financial planning skills for those individuals advising on retail investment products.

“Financial planners, paraplanners and wealth managers wishing to become a CFPTM   professional can be assured that our financial planning pathway meets FCA approval. It therefore provides financial services professionals with specialist knowledge and expertise to foster strong careers in all areas of financial planning.

“Those CISI members who attain the CFPTM designation can be confident in the knowledge that they are highly skilled professionals who can help clients take control of their finances,  joining a global community of 160,000 CFP professionals.”

Those wishing to find out more about the new CISI level 4 Financial Planning & Advice exam should visit cisi.org