ifs Diploma for Financial Advisers
Financial advisers, are your qualifications Retail Distribution Review (RDR) compliant?
The RDR has proposed the introduction of new minimum qualification requirements for financial advisers: the need for an Ofqual (Office of the Qualifications and Examinations Regulator) accredited Level 4 qualification.
By the end of 2012, the regulator expects all existing advisers to have achieved an appropriate Level 4 qualification, with new entrants expected to go through the higher level qualification from 2010.
General Physics (UK) Ltd caters for both the IFS Diploma for Financial Advisers and the CII Diploma in Financial Planning.
Before making your decision you need to consider which route is most suitable for each individual’s personal situation. CII Diploma in Financial Planning OR IFS Diploma for Financial Advisers which one is the right path? See our guide!
Final details of the FSA’s qualifications requirements have yet to be announced, but the indications are that anyone holding DipFA will meet the new required standard. Should any additional knowledge requirements be identified in the interim, Diploma holders will be able to address these through undertaking continuous professional development (as opposed to additional examinations).
The IFS Diploma for Financial Advisers (DipFA) enhances knowledge in core areas such as regulation, investment principles, risk, taxation and personal financial planning. It aims to do this primarily by using real life scenarios to develop the essential skills to apply this technical knowledge in practice.
To gain the qualification you work through a structured 9 month period of study, which includes two elements:
Unit one, ‘Financial Planning Principles (FPP)
This unit focuses on developing understanding of the fundamental systems and structures that underpin the financial advice process. Key elements of the syllabus include:
- The roles and interrelationships of institutions and markets
- The role of regulated advisers
- The monetary system
- Influences on financial institutions and markets
- Why and how financial institutions and markets are regulated
- The concepts and importance of risk
The knowledge is tested in a two hour multiple choice exam.
NB: It is likely that the syllabus will be amended in the future to include a section on Ethics.
Unit two, ‘Advanced Financial Advice’ (AFA)
This unit focuses on developing understanding of specific products, principles and issues affecting clients and is split into two sections. The first being a coursework assignment and the second being a written examination based on a fact find issued prior to the exam. Key elements of the syllabus include:
- The impact of divorce on financial planning
- Trusts, their uses and taxation implications
- Complex income tax and capital gains tax planning calculations
- The relevance of taxation and its impact on financial planning decisions
- Domicile and residence and their relevance to financial planning
- Long term care issues
- Factors affecting and options regarding pension accumulation and retirement income
- Collective investments and their uses, e.g: unit trusts, OEICS, investment trusts
- Alternative investments and their uses, e.g: venture capital trusts, Enterprise Investment Schemes, offshore funds, hedge funds, commodities, derivatives, private equity funds, AIM
- Portfolio and risk management through consideration of investment strategies, risk analysis and portfolio theory
- Evaluation of employee benefits, including; share option schemes, salary sacrifice, health care schemes, and life cover
- Types of business, business taxation and business financial planning relevant to individuals seeking advice on their own situations
- Identifying and analysing clients’ objectives, needs and aspirations
- Assessing clients’ existing provision in relation to their objectives, needs and aspirations
- Identifying and applying appropriate solutions
The development of core communication skills is an important aspect of this unit and is reviewed in both the coursework assignment and exam. This includes formulating appropriate responses, conveying complex information clearing, structuring information and adhering to the FSA requirements of Treating Customer’s Fairly.
An example of a typical 9 month study period and how GP course interventions can help assist you with this goal can be found in our IFS Financial Diploma Study Guide.
Our Workshops
We are committed to improving the examination pass rate as well as providing broad coverage of the main Diploma for Financial Advisers syllabus areas.
We provide face to face workshops, encourage the use of the IFS online tutor, coaching and more to allow individuals and businesses to reach their full potential and to achieve the highest levels of success.
Knowledge and application will be validated throughout the workshops with quizzes, group and individual exercises. The workshops will also include sample questions, exam practice and study tips. Our focus for these workshops is very much on the practical application of knowledge, including the way in which it is communicated, to reflect the requirements of the IFS qualification.
We have many years experience in training Financial Services Advisers. We specialise both in knowledge based training to achieve qualifications, and more generic sales, sales management, sales leadership and coaching skills.
Our workshops are run by professional financial planning trainers who understand the importance of your job and the challenges and difficulties you can face with the continued requirements to demonstrate your professionalism.
We use consultants that have a proven track record in achieving outstanding results and have a great deal of experience of field based selling and use this experience to bring our programmes to life. They bring with them a wealth of experience both within the Financial Services industry and as Training and Development professionals, which in turn ensures you receive a quality experience with us. We also use trainers that have close links with the IFS.
Programme outline
DipFA Programme Overview
We recommend a blended approach to learning when studying for the DipFA. This would include the use of materials and resources provided by the IFS as part of your registration package, the IFS on line tutor and additional exercises, and also the use of our own one to one coaching programme* which dovetails with the IFS tutor system.
Our programme follows the 9 month study path recommended by the IFS and a full breakdown of how our workshops fit into this path can be found on our IFS Study Guide.
To gain the most from our face to face workshops, we strongly advise that the pre course work is completed, as this will be discussed on the workshops and forms the basis of many discussions.
- Pre course work for introduction to programme workshop
- 1 day introduction to the DipFA programme
- Pre course work for FPP revision workshop
- 1 day FPP revision workshop
- 1 day introduction to coursework
- 1 day focused knowledge workshop (coursework based)
- Pre course workbook for final exam workshop
- 1 day Final exam workshop
*available at additional cost
Please refer to ‘workshop content’ for details of each programme...
Workshop Content
You can see full content of the workshops by clicking on the workshop you require in the list below...
Bespoke packages
The outline shown is for our public schedule programme, however, we also run in house programmes which can be tailored to suit the specific needs of your employees. We would be more than happy to discuss options with you contacts us on 01420 548 790.
Additional support
In addition to our face to face workshops we understand that you may want additional guidance, but find taking time out of your working week to be a challenge. Therefore to support you with this we encourage the use of the IFS online tutor and also our one to one coaching service which is available at an additional cost.
Coming soon
Online knowledge based revision workshops
Financial Courses
- Course Types Key
- In House Courses
- Tailored Courses
- Public Courses
ifs Advanced Financial Advice Final Exam Course
This one day programme focuses on the skills required for your final exam.
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Available Dates:
Manchester, UK - 30 Nov 10
http://www.gptrainingconsultants.com/courses/financial/ifs-advanced-financial-advice-final-exam-course-_491.shtml
London, UK - 01 Dec 10
http://www.gptrainingconsultants.com/courses/financial/ifs-advanced-financial-advice-final-exam-course-_492.shtml
Birmingham, UK - 02 Dec 10
http://www.gptrainingconsultants.com/courses/financial/ifs-advanced-financial-advice-final-exam-course-_493.shtml
ifs Advanced Financial Advice – Coursework Knowledge Workshop
This is a one day programme aimed to boost your knowledge on the main topic covered in your assignment.
Within your assignment you will be expected to demonstrate your understanding of a core knowledge area.
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No public course dates currently available
No public course dates currently available
ifs Financial Planning Principles Revision Workshop
This 1 day workshop benefits you by working through practice questions, a mock exam, and group discussion in preparation for the FPP multiple choice exam.
It assists you by ensuring they are clear on the weighting applied within the syllabus areas to aid time allocation when looking at personal study.
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No public course dates currently available
No public course dates currently available
ifs Introduction to Advanced Financial Advice – Coursework Element
This one day programme focuses on the key skills of compiling a coursework assignment for your DipFA qualification.
Many studying for this qualification may not be used to completing coursework that is assessed towards their final mark, therefore we provide some important tips and pointers to assist with this.
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No public course dates currently available
Introduction to your Diploma for Financial Advisers Programme
For many people studying towards this qualification it may have been some time since they studied on a formal basis. It may also be the case that any qualifications taken have been based purely upon exams – be they multiple choice, or free format – and not included any element of coursework.
Therefore this 1 day programme ensures all participants are clear on the structure and format of the DipFA as different approaches are required at different stages of the qualification.
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No public course dates currently available
No public course dates currently available
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