5 Steps for Diploma in Regulated Financial Planning

Previously, to be a financial adviser in the United Kingdom, you had to obtain a Certificate in Financial Planning. However, as of January 1, 2013, all financial advisers are required to have a Level 4 Diploma such as the CII Diploma in Regulated Financial Planning. The good news is that there are no prerequisites; it is open to anyone who needs to gain FSA (Financial Standards Authority) approval. Here are the 5 crucial steps toward getting your qualification…

1.      Do lots of research. Knowing what you are getting yourself into will make the process more straightforward and less stressful. The Diploma in Regulated Financial Planning consists of six units: UK financial services regulation and ethics; investment principlesand risk; personal taxation; pensions and retirement planning; financial protection; integrated financial planning practice.The first five units consist of multiple choice questions, and the last unit, which entails a recommended 100 hours of study time, is comprised of two written case studies.

2.      Decide where and when you want to sit each of the exams. With a large number of exam centres covering most UK cities, and assessments taking place on a regular basis throughout the year, it is easy to work around existing work or family commitments.

3.      Budget accordingly. Since costs vary significantly, find out in advance what it will cost to sit all six exams. Consider joining The Chartered Insurance Institute, which entitles you to a discount of around 5%, as well as other benefits.

4.      Invest in suitable training aids to help you prepare for the assessments. Brand Financial Training offers a wide range of preparation and revision material, such as mock exam papers, calculation workbooks, study notes, online training programmes, master classes, and much more, to help you get your Diploma in Regulated Financial Planning on the first try!

5.      Revise! Use the training aids to ensure that you are well prepared and give yourself the best chance of passing each unit first time. The assessment process itself is straightforward for R01, R02, R03, R04 an R05; simply log on to your personal computer at the test centre with your unique code, watch the short online demonstration and then start answering the questions with a click of the mouse.   R06 is a written paper.

Good luck!

Information in this article is correct as at May 2011