Fellowship

To become a Fellow of the Institute of Financial Planning (FIFP) is indeed one of the most prestigious titles in the Financial Planning World. To reach this level which has so far only been reached by 74 individuals requires successful completion of 12 hours of rigorous Financial Planning examinations. There is a personal paper of 6 hours over one day and a similar length business paper on the following day. The rewards however are worth the effort as once successful; you join an elite group of the leading Financial Planners in the UK.

The Fellowship represents the pinnacle of many planners’ careers in Financial Planning and is the ultimate test in Financial Planning skills under examination conditions. Like the CFP certification programme, the testing is on the application and the competence of the individual planner.

Being part of the Fellowship allows individuals to contribute further to the development of new planners through mentoring, other initiatives and contributions from the Fellows’ conferences and meetings.

Why become a Fellow of the Institute?

A Fellow of the Institute is more than simply proof that you have been tested on your technical knowledge. To qualify as a Fellow shows that you are able to understand the inter-relationship between different parts of a client’s situation. A Fellow is therefore an experienced Financial Planner who demonstrates the fruits of reflection and has the proven ability to take a perspective encompassing all aspects of a case.

A Fellow has verified their capabilities in analysis and reflection of the options available to their client, as the process of becoming an Institute Fellow requires the candidate to demonstrate both exceptional knowledge and skills.

"Passing the fellowship exam was the most satisfying result I have ever received due to the fact that there is no way that you can ‘bluff’ your way through as is possible with most other exams.  Most of us (I think?) have some doubts as to whether we are good at what we do, not all the time, but sometimes.  Passing something of this caliber makes me believe that actually yes, I can do this job, and do it well". 

Rebecca Taylor, FIFP, CFP - Dunham Financial

"Gaining the Fellowship was the proudest moment in my career to date and to join the ranks of the Fellows, who I admire and respect immensely, gave me a feeling of such elation (even more so than passing the CFP case study when back in 2000 I thought that achievement and sheer relief at passing would not be surpassed)".

Ian O'Connor, FIFP, CFP - Astute Financial Planning

"Attaining Fellowship status has been the greatest professional milestone I have achieved in my career to date"

Carolyn Corless FIFP, CFP – Bloomsbury Financial Planning.

"Potential new clients see it as a real mark of distinction, often telling mehow much more confident they feel with an adviser who has gone that extra mile with qualifications"

Francis Klonowski Esq FIFP, CFP – Klonowski & Co.

To view three Fellows profiles and how becoming a Fellow has helped them click here.

Entry Requirements

Candidates must already be an Associate member of the Institute of Financial Planning and have at least five years’ financial related experience to be eligible to sit the Fellowship examination.

The examination itself is a demanding test of a candidate’s ability to carry out comprehensive Financial Planning for a private client and business owner at a professional level.

This encompasses many disciplines; candidates who pass this examination must demonstrate a high level of technical knowledge in all topics without exception. The examination seeks to examine the application of appropriate technical knowledge and the ability to provide creative and practical solutions to demanding problems.

Candidates are advised to study the syllabus and identify areas of weakness for further study using the past papers and selections from the booklist.

The Institute urges candidates who hold examination passes over three years old to undertake the necessary reading to ensure their knowledge is up to date. Attendance at the Preparation Days is recommended to update candidate’s knowledge and understanding of both the technical knowledge required along with the level of application for the examination.

Time value of money calculations is another major topic for which limited information is generally available to candidates. This topic is regularly explored in the Fellowship examination. As a result the Institute has specialist reading material that candidates can purchase to aid their understanding in this area.

Upon a successful pass of both the examination papers you will be eligible to use the designation ‘FIFP’ (IFP membership requirements apply). If you are working your way towards Associateship or Fellowship of the PFS, becoming an FIFP will entitle you to 30 credits towards this.

To view the 2008 Fellowship Brochure click here.

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