Entry requirements

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 three years' experience within financial services
  2. Hold a pass in an FSSC/FSA designated 'appropriate examination' for advising on packaged proucts
  3. Hold an examination pass in each of the following areas - Financial Planning, Taxation and an Advanced Technical Area

1. Experience

A minimum of three years of relevant experience within financial services is required. 

Examples of the sorts of experience that are acceptable are:

  • Working with financial data in jobs such as financial accounts and banking
  • Working as a Paraplanner, financial adviser or accountant.

 Examples of the sorts of experience that are not acceptable are:

  • Occupations or experience outside the financial world or roles that do not involve numeracy work or, application of financial knowledge either directly to the public or, in training those who come into contact with the public
  • Pure supervisory management in banking or motivational training where no financial information is analysed or applied for the benefit of advice to the public.

2. Appropriate examinations

An appropriate examination for advising on packaged products must be held as detailed on the Financial Services Skills Council (FSSC) website where a complete list can be accessed: www.fssc.org.uk

Typical qualifications which are currently recognised are:

  • Certificate for Financial Advisers (CeFA) – ifs School of Finance
  • Financial Planning Certificate (FPC) – Chartered Insurance Institute
  • Certificate in Financial Planning (Cert FP) – Chartered Insurance Institute
  • Certificate in Investment Planning – Chartered Institute of Bankers in Scotland

Any of the qualifications listed as Key 1 in of FSA’s CP10/14 (Appendix 2 Table 4) as meeting the full qualification requirement for Advising on Packaged Products.

3. Examination passes

Candidates must hold an examination pass in Financial Planning, Taxation and an Advanced Technical Area. Candidates cannot use the same examination in more than one area.

Financial Planning - one of the following must be held:

Any of the qualifications listed as Key 1 in of FSA’s CP10/14 (Appendix 2 Table 4) as meeting the full qualification requirement for Advising on Packaged Products 

Chartered Insurance Institute:

  • FP3 – Identifying and Satisfying Client Needs – Financial Planning Certificate *
  • CF5 – Integrated Financial Planning – Certificate in Financial Planning
  • H25 – Holistic Financial Planning – Advanced Financial Planning Certificate *
  • G20 – Personal Financial Planning – Advanced Financial Planning Certificate *
  • G30 – Business Financial Planning – Advanced Financial Planning Certificate *
  • AF2 – Business Financial Planning – Advanced Diploma in Financial Planning
  • AF3 – Pension Planning – Advanced Diploma in Financial Planning
  • AF4 – Investment Planning – Advanced Diploma in Financial Planning
  • AF5 – Financial Planning Process – Advanced Diploma in Financial Planning
  • J08 / R06 – Financial Planning Practice _ Diploma in Regulated Financial Planning

ifs School of Finance:

  • CeFA 3 – Paper 3 of the Certificate for Financial Advisers (taken before Oct 2004) *
  • DipFA - Diploma for Financial Advisers

Chartered Institute for Securities and Investment:

  • Paper 3 – Investment Advice Certificate *

Standards International/Chartered Insurance Institute:

  • ISO 22222 – Personal Financial Planning

Edexcel / SQA:

  • N/SVQ in Providing Financial Advice

Calibrand / Scottish Qualifications Authority

Diploma in Professional Financial Advice

Taxation – one of the following must be held:

Any of the qualifications listed as Key 1 in of FSA’s CP10/14 (Appendix 2 Table 4) as meeting the full qualification requirement for Advising on Packaged Products http://www.fsa.gov.uk/pubs/cp/cp10_14_erratum.pdf

Chartered Insurance Institute:

  • J01 – Personal Tax AND J02 – Trusts – Diploma in Financial Planning
  • G10 – Taxation and Trusts – Advanced Financial Planning Certificate *
  • AF1 – Personal Tax and Trust Planning – Advanced Diploma in Financial Planning
  • R03 – Personal Taxation

ifs School of Finance:

  • DipFA - Diploma for Financial Advisers

Association of Taxation Technicians:

  • ATT or ATII

* denotes a qualification that is no longer available to new entrants.

Advanced Technical Area – one of the following must be held:

Chartered Insurance Institute:

  • G20 – Personal Financial Planning – Advanced Financial Planning Certificate *
  • G30 – Business Financial Planning – Advanced Financial Planning Certificate *
  • G60 – Pensions Planning – Advanced Financial Planning Certificate *
  • G70 – Investment Portfolio Management – Advanced Financial Planning Certificate *
  • AF2 – Business Financial Planning – Advanced Diploma in Financial Planning
  • AF3 – Pension Planning – Advanced Diploma in Financial Planning
  • AF4 – Investment Planning – Advanced Diploma in Financial Planning

 CFA UK:

  • IMC – Investment Management Certificate

 Chartered Institute for Securities and Investment:

  • Certificate in Investment Management
  • MSI(dip) - Diploma of the Securities and Investment Institute

 CFA Institute:

  • CFA – Chartered Financial Analyst

 Membership of the following is also accepted as being sufficient in this area:

  • Associate or Fellow of the Faculty/Institute of Actuaries
  • Solicitor or Barrister – Law Degree (LLB)
  • Associate of the Institute of Chartered Accountants of England and Wales (ACA)
  • Associate or Fellow of the Chartered Certified Accountants (ACCA)
  • Associate or Fellow of the Institute of Chartered Accountants of Scotland (CA)
  • Associate or Fellow of the Pensions Management Institute (APMI/FPMI)

 * denotes a qualification that is no longer available to new entrants.

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 qualification@financialplanning.org.uk and be prepared to supply the syllabi relevant to your qualification and the administration fee.