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5 Steps for Diploma in Regulated Financial Planning

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 were 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 FCA (Financial Conduct 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: R01 – UK financial services regulation and ethics; R02 – Investment principles and risk; R03 – Personal taxation; R04 -Pensions and retirement planning; R05 – Financial protection; R06 – Financial planning practice. The first five units, R01 to R05, consist of multiple choice questions, and the last unit, R06 is a 3 hour written exam and based on two case studies, which the candidates receive two weeks prior to the exam sitting.

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 weekly basis throughout the year, it is easy to work around existing work or family commitments. There is very little cross over in the syllabus for R01 to R05 so most people take the exams one at a time but the order is really up to you. We generally advise you take the R06 exam last as this calls on your knowledge from the other exams, these exams are available quarterly.

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 20%, 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, E Learning, audio masterclasses, and much more, to help you achieve 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.

Good luck!

Further details regarding the CII Diploma in Regulated Financial Planning can be found on our website:

Information in this article is correct as at May 2020