ifs launches entry-level financial advice qualification
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The Institute of Financial Services has launched a Level 3 financial advice qualification for new entrants to the sector.
Following a successful pilot in 2011, the Certificate in Financial Administration and Planning will be launched for those either starting a career in the financial advice industry or already working in paraplanning or administrative roles.
CeFAP is also designed as a stepping stone qualification for employers looking to develop staff into client-facing financial advice roles.
Anne Kiem, chief executive of the ifs, says: “We have developed this new qualification in response to an increasing demand from the industry for a QCF Level 3 qualification in the financial advice market. It’s designed with both paraplanners and those aspiring to be financial advisers in mind.”
She adds that the new Level 4 qualification requirements of the Retail Distribution Review mean that new entrants to the industry are facing a steep learning curve in becoming qualified.
Kiem says: “This new Level 3 qualification recognises this and enables students to understand the UK financial services environment, products, regulation and the legal framework, better equipping them to tackle a Level 4 qualification.”
The CeFAP costs £350, has a recommended study time of between 200 and 240 hours and is assessed in a two hour multiple choice exam.
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