CERTIFIED FINANCIAL PLANNERCM Certification The CFPCM Certification is a high level qualification and therefore candidates are expected to be of a certain standard in order to be able to meet the rigourous requirements. The entry requirements outline the criteria needed to begin the process, please review carefully. To be eligible to embark on the process of becoming a CFPCM Professional there are three compulsory criteria which must be met: - Taxation
- Financial Planning
- 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 figures in jobs such as financial accounts and banking
Working as a Paraplanner or financial adviser or accountant Examples of the sorts of experience that are not acceptable are: Occupations or experience outside the financial world or jobs 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 is not acceptable. 2. APPROPRIATE EXAMINATIONS An appropriate examination for advising on packaged products must be held as detailed on the Financial Services Skills Council (FSSC) website: 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
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: Chartered Insurance Institute:
- FP3 – Identifying and Satisfying Client Need – 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 ifs School of Finance
- CeFA 3 – Paper 3 of the Certificate for Financial Advisers (taken before Oct 2004) *
- DipFA - Diploma for Financial Advisers Securities and Investment Institute
- Investment Advice Certificate - Paper 3 * Standards International
- ISO 22222 – Personal Financial Planning Edexcel / SQA
- N/SVQ in Providing Financial Advice Taxation– one of the following must be held: 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 ifs School of Finance
- DipFA - Diploma for Financial Advisers Association of Taxation Technicians:
- ATT or ATII 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 UK Society of Investment Professionals:
- IMC – Investment Management Certificate
Securities and Investment Institute:
- 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) ADDITIONAL NOTES * denotes a qualification that is no longer available to new entrants Candidates who are part-qualified
Candidates may start the CFP certification process whilst studying to obtain one set of the qualifications required as stated within the ‘examination passes’ section.Candidates will be expected to hold the entry requirements within the other two remaining criteria.Experience shows those embarking on the examination process without the full entry requirements dramatically reduce their chances of passing the CFP certification.The use of the CFP marks is prohibited until all the entry requirements have been met.It is important to note that you will have a maximum period of 2 years in which to achieve all of the entry requirements, after which time you will be required to take the CFP certification assessment again. Candidates who hold qualifications/examinations that are not listed
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 by the IFP Education Committee.You will need to fully complete the Qualification Review Application’ below and submit this to the IFP together with the syllabi relevant to your qualification and an administration fee of £20.Please note, if any application is received either incomplete or without these items it will be returned.Candidates should allow between 8 – 12 weeks for a review. Qualification Review Application (QRA) CFPCM CERTIFICATION RESOURCE LIBRARY CFP CERTIFICATION ENTRY REQUIREMENT ENQUIRIES If you have a query regarding the entry requirements, please contact: Institute of Financial Planning
Whitefriars Centre
Lewins Mead
Bristol
BS1 2NT
Tel: 0117 945 2470
Fax: 0117 929 2214
Email: enquiries@financialplanning.org.uk |
are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Institute of Financial Planning is the marks licensing authority for the CFP marks in the United Kingdom, through agreement with FPSB.