To be eligible to embark on the process of becoming a CFPCM professional, there are three compulsory criteria which must be met:
1. Have a minimum of one year's supervised or three years' unsupervised experience within Financial Planning
2. At least one of the following qualification requirements must be met:
- An FCA-recognised Diploma post 1.1.13
- An FCA-recognised Transitional Qualification plus Qualification gap-fill
- A current and valid SPS
IFP recognises the importance of work experience for someone looking to become a financial planning professional in being able to apply financial planning knowledge in diverse or complex client situations. IFP believes engaging in supervised practice is the most effective method of gaining professional experience, but alternative methods of gaining work experience are acceptable. IFP expects that the clients of financial planning professionals will benefit from a globally accepted experience standard for financial planning professionals.
Relevant Work Experience
An individual demonstrates relevant work experience, either supervised or unsupervised, working with clients while:
- Engaging in practice described in FPSB’s Financial Planning Practice Standards;
- Applying the abilities, skills and knowledge described in FPSB’s Financial Planner Competency Profile; and
- Adhering to ethical principles described in FPSB’s Financial Planner Code of Ethics and Professional Responsibility.
Supervised Experience can be met by completing one year of supervised practice as described above under Relevant Work Experience.
The supervisor, who must be a financial planning professional who has mastered the abilities, skills and knowledge described in FPSB’s Financial Planner Competency Profile:
- Provides candidates with experience in, and instruction about, the practice of the profession;
- Helps candidates to develop knowledge about the practice of the profession;
- Teaches candidates the required standards of conduct; and
- Confirms candidates are able to interact with clients.
At the end of the supervised practice period, the supervisor attests to the IFP in writing to the candidate’s readiness to competently and ethically practice financial planning.
Unsupervised Experience can be met by completing three years of unsupervised practice as described above under Relevant Work Experience.
Get in touch
If you hold an examination or qualification that is not included within any of the above lists and you believe it to be relevant, you may apply for a review. There is a fee of £20.00 to review your qualifications. Please contact FPSB (UK) by telephone, 0844 873 3325 or by emailing firstname.lastname@example.org and be prepared to supply the syllabi relevant to your qualification and the administration fee.