CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 1
Certificate in Paraplanning
Handbook 2013
IFP - QU36 02/13
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 2
Contents 1 The Certificate in Paraplanning – Setting the standard in Paraplanning ....................................... 5
1.1 Who is the Certificate in Paraplanning designed for? ................................................................ 5
1.2 What is tested and how? ............................................................................................................ 5
1.3 Is the Certificate in Paraplanning right for me? .......................................................................... 5
2 Preparing for the Examination ........................................................................................................ 6
2.1 What are the entry requirements? ............................................................................................. 6
2.2 Study routes ................................................................................................................................ 6
3 The Examination ............................................................................................................................. 6
3.1 Registering for the Examination ................................................................................................. 6
3.2 Before the examination .............................................................................................................. 7
3.3 On the day of the examination ................................................................................................... 7
3.4 After the Examination ................................................................................................................. 7
Successful candidates ............................................................................................................................. 7
Unsuccessful candidates ......................................................................................................................... 7
3.5 Enquiries and appeals policy and procedures ............................................................................ 8
Appeals .................................................................................................................................................... 8
Administrative check............................................................................................................................... 8
Appeal against result .............................................................................................................................. 8
Unresolved appeals ................................................................................................................................. 8
All other complaints ................................................................................................................................ 8
3.6 Education level ............................................................................................................................ 9
3.7 Customer service standards ........................................................................................................ 9
3.8 Reasonable adjustments and special considerations policy and procedures .......................... 10
Special consideration/needs ................................................................................................................. 10
3.9 Malpractice procedures ............................................................................................................ 10
Examples of malpractice ....................................................................................................................... 11
In the event of malpractice ................................................................................................................... 11
Investigation of malpractice (in accordance with OFQUAL guidance) ................................................. 11
Process for investigation (from OFQUAL guidance) ............................................................................. 12
Stage 1: Briefing and record-keeping.................................................................................................... 12
Stage 2: Establishing the facts .............................................................................................................. 12
Stage 3: Interviews ................................................................................................................................ 12
Stage 4: Other contacts ......................................................................................................................... 12
Stage 5: Documentary evidence ........................................................................................................... 13
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 3
Stage 6: Conclusions ............................................................................................................................. 13
Stage 7: Reporting ................................................................................................................................. 13
Stage 8: Actions ..................................................................................................................................... 13
3.10 Position statement on use of Welsh and Irish .......................................................................... 13
3.11 Equality of opportunity policy ................................................................................................... 13
3.12 Confidentiality Policy ................................................................................................................ 13
3.13 Data Protection statement ....................................................................................................... 14
Data Protection ..................................................................................................................................... 14
3.14 Guidelines for challenging the validity of FPSB UK’s certifying procedures ............................. 14
Eligibility determinations ...................................................................................................................... 14
General certification process ................................................................................................................ 15
4 Certification Requirements ........................................................................................................... 16
Policy on changes to certification requirements .................................................................................. 16
4.1 Changes to Requirements ......................................................................................................... 16
4.2 Impact on Paraplanners ............................................................................................................ 16
Candidates who are part-qualified ....................................................................................................... 16
Candidates who hold qualifications/examinations that are not listed ................................................. 16
Entry Requirement Enquiries: ............................................................................................................... 16
APPENDIX I ............................................................................................................................................ 22
FPSB UK Principles of Financial Planning Unit ...................................................................................... 22
APPENDIX II ........................................................................................................................................... 27
Certificate in Paraplanning: Fees and Dates ......................................................................................... 27
APPENDIX III .......................................................................................................................................... 30
The Role of the Paraplanner ................................................................................................................. 30
Paraplanner Job Role ............................................................................................................................ 30
Appendix IV ........................................................................................................................................... 33
Recommended reading list ................................................................................................................... 33
Appendix V ............................................................................................................................................ 35
Recommended websites: ...................................................................................................................... 35
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 4
Development needs Paraplanners are no longer simply technicians providing support services, they’re an intrinsic part of successful Financial Planning practices. The IFP has led the profession in our support of this growing community and I hope that we can extend this support directly to you. Of course, some Paraplanners may aim to ultimately become a Financial Planner, obtaining the prestigious CERTIFIED FINANCIAL PLANNERCM
certification, the highest global standard in Financial Planning. Others however wish to remain as a Paraplanner throughout their career. Whichever route you plan to take, we can provide the help to support your career success. The Paraplanner job profile was developed by the Institute of Financial Planning to highlight the key competences required for the role. This sets out not just the functions of the role but also the skill set required for an individual to undertake those functions When it comes to professional qualifications, there are plenty of exams that test your technical knowledge around pensions, tax, investments etc. The Financial Services Authority (FSA) has raised the bar on qualifications and on professionalism with the RDR. Clients too are now demanding the highest standards from those businesses and professionals they choose to work with. The current climate demands that you have the right credentials to demonstrate your abilities to both peers and clients. In many cases, Paraplanners aim to be at least as well qualified as the Planners they work with, something which is often now commonplace. As a Paraplanner, there can be no better way to demonstrate your competence than by achieving success in the Certificate in Paraplanning, and becoming an Accredited Paraplanner. We would like to acknowledge the support of Scottish Widows in helping to develop this qualification, which was the first ever specialist qualification designed for Paraplanners in the UK. Designed and operated by FPSB UK, it tests the skills, knowledge and competence required for the role of a Paraplanner. It is not designed as a replacement or equivalent of other qualifications I personally believe it will set the standard for Paraplanning in years to come. I wish you well as you develop your career whether as a Paraplanner, or in due course, a Financial Planner.
Lucy Courtenay Qualifications Director, FPSB UK
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 5
1 The Certificate in Paraplanning – Setting the standard in
Paraplanning
As the Financial Planning profession grows, it’s more important than ever to set yourself apart
with the right professional credentials. Proving your skills as a Paraplanner is essential if you are to
demonstrate your competence in this key area. Success in the Certificate in Paraplanning is the
ideal way to improve your Financial Planning knowledge, skills and competence. It was the first
qualification of its kind in the UK, providing a specialist examination for Paraplanners
1.1 Who is the Certificate in Paraplanning designed for?
The qualification is designed for Paraplanners at any stage in their career. The syllabus is based on
the job description for a Paraplanner developed by the IFP and the standards developed by the
Financial Skills Partnership (formerly FSSC). The Certificate in Paraplanning is ideal for
Paraplanners who wish to demonstrate their knowledge, skills and competence by obtaining a
recognised Paraplanning qualification. The qualification is also an ideal step towards obtaining
CERTIFIED FINANCIAL PLANNERCM certification – the global standard of excellence in Financial
Planning – for those who wish to follow this path.
In order to obtain the Certificate in Paraplanning candidates will need to hold a pass in a Personal
Taxation unit and pass the Principles of Financial Planning unit. Once a candidate has passed this
unit they will then be awarded the Certificate in Paraplanning, and may subsequently apply to the
IFP to become an Accredited Paraplanner subject to meeting the criteria.
1.2 What is tested and how?
The Principles of Financial Planning unit consists of a two hour online examination. The
examination comprises 30 multiple choice questions as well as detailed responses to a client case
study, including financial calculations.
1.3 Is the Certificate in Paraplanning right for me?
If you are currently working as a Paraplanner, whether in-house or outsourced, then this
qualification is for you. It will help you by building on your existing skills and helping you become
more effective at in your job. Ultimately, this will not only be of benefit to you in your career but
also to your employer and clients too. If you are thinking of becoming a Financial Planner in the
future, then this is an ideal step towards CFPCM Certification as it covers some of the core
competences tested as part of this globally recognised qualification.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 6
2 Preparing for the Examination
2.1 What are the entry requirements?
In order to sit the Principles of Financial Planning examination, you should hold a pass in a
recognised Personal Taxation paper. Alternatively, a Diploma recognised by the FSA for giving
retail investment advice will also meet the entry requirements. The entry requirements may be
updated from time to time and you should check the website for the most up to date information
www.financialplanning.org.uk/qualifications Whilst it is not essential to hold an FSA-recognised
Diploma or another Appropriate Examination for giving advice, candidates may find this useful
preparation and valuable if they wish to give regulated advice in the future.
2.2 Study routes
The IFP and other training providers offer a range of study options for candidates. This helps to
maximise flexibility and to ensure that each candidate can access the combination which is most
appropriate for their own individual needs. To help you prepare effectively for the exam, the IFP
has created three study routes. Which route you choose will depend on your experience and
learning style. For those wishing to have more support and guidance it is recommended you opt
for the package which includes the Paraplanner Exam Workshop. This two day exam workshop will
guide you through the processes and standards which are required in order to pass the
examination.
In addition to this the IFP has also developed an online e-learning programme. User friendly and
with its modular approach, this is the ideal way to work through the requirements from your own
office or home. You can find more information on the IFP website
http://www.financialplanning.org.uk/certificate-paraplanning
3 The Examination
The Principles in Financial Planning exam is delivered online using a bespoke platform or on paper.
This is available at a number of centres throughout the UK.throughout the UK. Details of dates
and venues can be found in Appendix II and at www.financialplanning.org.uk/dates-and-rates-0.
3.1 Registering for the Examination
In order to register for the Certificate in Paraplanning, you should complete the registration form
(available at the back of this document or download from the website) and send it to the FPSB UK
with your payment. You should decide where and when you wish to sit the examination. Due to
our partnership with Calibrand, we may be able to offer additional dates and venues – please
contact us for further details.
FPSB UK reserves the right to cancel, withdraw or substitute venues / dates if there are insufficient
candidates.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 7
3.2 Before the examination
Two weeks before the examination you will be sent a list of rules and regulations, along with
confirmation of the date, time and venue of the exam. Any related materials will also be sent to
you before the exam. You will also be provided with a logon to the online testing platform so that
you can practise the specimen paper and familiarise yourself with the format of the exam.
3.3 On the day of the examination
You should arrive 15 minutes before the scheduled start time of the examination. If you arrive
late, you may not be allowed to sit the examination. You should bring photo identity with you
such as a Driving Licence or a Passport as this may be checked by the official to verify your identity.
You may bring a silent, non-programmable calculator with you to use during the examination. The
calculator must not be capable of storing any data. If you wish to check that your calculator is
allowed, please contact FPSB UK for guidance. It is acceptable to use a scientific or financial
calculator provided that it meets the criteria above.
If you bring a phone or similar device with you, you should ensure that it remains switched off
throughout the examination. Failure to comply with this requirement may disqualify you from the
examination.
The time allowed for the examination is two hours, you may leave early if you wish provided that
you do not disturb other candidates.
The examination consists of two parts: the first part will be 30 multiple choice questions and the
second part will be based around a case study and you will be required to answer a number of
questions based on the case study. Tax tables and other reference materials will be provided and
you should not bring these with you.
3.4 After the Examination
Results will be sent out approximately 4 - 6 weeks after the examination via email or post. The
nominal pass mark is 65% although the actual pass mark may vary slightly to reflect the difficulty
of the particular examination that you took. If you meet the eligibility criteria, you will be sent a
certificate showing that you have achieved the Certificate in Paraplanning.
Successful candidates If you have passed the Examination, then you may apply to become an Accredited Paraplanner. In
order to use the designation Accredited Paraplanner you must join the IFP. You will then be
eligible to use the logo and acronym APP on all business stationery.
Unsuccessful candidates If you do not reach the required pass standard, you may attempt the examination again by
completing the entry form sent to you with your result.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 8
3.5 Enquiries and appeals policy and procedures
Appeals We operate a clear and transparent appeals process in line with the regulatory arrangements of
the Ofqual.
Administrative check An administrative checking service is available to candidates who have failed a written paper. The
service will check that all parts of the exam have been marked and that the marks have been
totalled and recorded correctly. It will also check that any special consideration has been taken
into account, where applicable. Requests for administrative checks should be made by way of
letter addressed to the Qualifications Co-ordinator to arrive no later than 14 days following receipt
by the candidate of the result to which the administrative check relates. We will acknowledge the
request within seven days of receipt. The result of the administrative check will be sent to the
candidate within 14 days of receipt. Candidates who are not satisfied with the administrative
check can appeal against their result. (See below).
Appeal against result Appeals should be made by way of letter to the Qualifications Director to arrive no later than 14
days following receipt by the candidate of the outcome of the administrative check. In the event
that a candidate wishes to appeal, all the documents relating to their examination will be
considered by the Senior Examiner. The cost of an appeal is £75 which will be refunded if the
appeal is successful. As part of the consideration, a review of the original marking will be carried
out and the Senior Examiner may wish to conduct a viva assessment at a mutually convenient
time. To ensure independence, the senior assessor will not have been involved in the assessment
of the candidate previously. We will acknowledge the appeal within seven days of receipt. The
result of the appeal will be sent to the candidate within 28 days of receipt.
The decision of the Senior Examiner is final.
Unresolved appeals Candidates who have reason to believe that the appeal has not been conducted correctly should
write to the Chairman of the FPSB UK Examination and Certification Committee by way of letter
within 14 days of receipt of the result of their appeal. The letter should provide a detailed
explanation as to why the candidate believes the appeal has been conducted incorrectly, with
evidence to support this explanation. The Chairman has the discretion to put the matter to the
Examination and Certification Committee if they believe the candidate has suitable grounds for
complaint. In this case, the candidate will be notified of the referral within 14 days of receipt of the
letter and of the committee’s decision within 14 days of the meeting. If the Chairman finds
insufficient grounds for referral, they will notify the candidate within 14 days of receipt of the
letter, giving the reasons why. In all cases, the decision of the Chairman is final.
All other complaints Any complaint in respect of any other matter, including inter‐alia but with limitation, the
assessment or examination environment or facilities, including the invigilation of the examination,
or the conduct of any other person whether candidate or staff of the FPSB UK or any other matter
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 9
surrounding the registration for the assessment must be made by way of letter addressed to the
FPSB UK Qualifications Director to arrive no later than 14 days following the date of the
examination or the date on which the matter complained of occurred if some other date.
We will acknowledge the complaint, in writing, within seven days of receipt. The
acknowledgement will set out the date by which the candidate can expect a response to the
complaint. Following investigation of the complaint a full response will be sent to the complainant,
within the timescale set out in the FPSB UK’s acknowledgement of the complaint, setting out the
steps taken during the course of the investigation, the results of the investigation and the final
decision on the matter.
3.6 Education level
FPSB UK is recognised as an Awarding Organisation by Ofqual. The FPSB UK Level 4 Certificate in
Paraplanning is on the Qualifications and Credit Framework register.ofqual.gov.uk/ (ref
S/009/388).
3.7 Customer service standards
We are committed to providing high quality services, events, qualifications, and education for all
our stakeholders in support of building the profession of Financial Planning in the UK.
This statement will help us monitor our service and continually improve that service.
You can expect us to:
Give prompt, helpful and friendly response to telephone and e-mail enquiries, normally within two working days
Answer telephone calls promptly and professionally
Respond to written correspondence within seven working days
Deal with complaints promptly providing an initial response within five working days
Deal with financial transactions within two months
Protect confidential information
Provide regular updates on our website to keep stakeholders informed of all our latest news and guidance in all areas
Provide regular updates via post, the monthly membership magazine Financial Planner, and email and respect your wishes with regard to email communications
Maintain full and accessible current information on our fees and regularly review our pricing to ensure we offer value for money
Give professional and individual advice where appropriate when you seek clarification prior to any assessment or event
Offer qualifications with appropriate national accreditation and international recognition
Support our facilitators, candidates and staff through forward-looking course material, publications and training
Include clear and simple guidance notes in all our course material and handbooks, and where possible offer these online
Have confidential and secure procedures for storing case studies, written papers and blank certificates
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 10
Ensure that candidates are examined by highly trained professional assessors
Dispatch confirmation of results within the timeframes and through the methods announced in our supporting documents
Respond to formal appeals as detailed in our course material, with an independent opinion at the ultimate level
Ensure that candidates have access to suitable assessment facilities
Immediately investigate allegations of malpractice in relation to our assessment system
Keep records of candidates’ achievements and respond to legitimate requests for these records
Continue to ensure that we are committed to providing equality of opportunity and treatment for all, and that we will not unlawfully or unfairly discriminate directly or indirectly on the basis of gender, age, ethnic origin or disability in our dealings with candidates, facilitators, assessors.
Use best practices and implement policies and procedures to ensure that candidates are dealt with on a consistent and fair basis
Undertake to listen to and consult with Welsh speaking candidates to determine their needs and monitor verifiable demand for Welsh language assessment
Provide our candidates and other stakeholders with the opportunity to comment on all aspects of our service by contacting us at any time
Comply in all areas of the UK Data Protection Act
Comply with all current relevant statutory legislation.
If you wish to comment on this statement or any service offered by us, please contact us by email:
[email protected] or call the office on 0117 945 2470.
3.8 Reasonable adjustments and special considerations policy and procedures
Candidates who may require any concession or assistance as a result of any disability or for any
other reason should contact us in writing or by telephone before applying for the examination.
Guidance can then be given and, if considered necessary, suitable arrangements can be put in
place.
Special consideration/needs If there are any special needs the candidate may have, these should be made known to us at the
time of registration. If at any time a candidate feels there are circumstances that need to be taken
into account in marking their examination they should raise these issues with us.
3.9 Malpractice procedures
Malpractice is defined as any deliberate activity, neglect, default or other practice that
compromises the integrity of the assessment process and/or the validity of the qualifications we
offered. Malpractice may include a range of issues from the failure to maintain appropriate
records or systems to the deliberate falsification of records in order to claim certificates.
We will investigate all cases of alleged malpractice. The main purpose of an investigation is to
establish if any regulations have been breached and to determine whether there is any
irregularity. Where cases of malpractice are found, we will take appropriate action in order to
maintain the integrity of its qualifications.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 11
Members of the IFP guilty of malpractice will be treated in accordance with the IFP Code of Ethics
and Practice Standards. Candidates may also be referred to IFP Disciplinary Committee or the
appropriate trade body or regulator.
We are obliged to refer all proven cases of malpractice to OFQUAL in respect of all regulated
qualifications. In addition, we may refer cases to the Financial Services Authority.
Examples of malpractice
1. A candidate arranging for another person to sit the assessment or to write any part of it on their behalf.
2. Impersonating another candidate by sitting an assessment for them or submitting work on their behalf.
3. Submitting any work which is not the candidate’s own original work. 4. Copying the work of another candidate. 5. Allowing another candidate to copy their work. 6. Taking forbidden items into the examination room. This may include, but is not limited to,
mobile phones, personal organisers, computers, notes or books. 7. Communicating with another candidate during the assessment. 8. Working collaboratively with another person during the assessment. 9. Plagiarism or misrepresentation. 10. Including offensive or inappropriate material within the assessment. 11. Identifying themselves or their company within the assessment. 12. Wilfully failing to follow instructions given by a Qualification Coordinator. 13. Behaving in a disruptive manner during the assessment. 14. Falsifying documentation or certificates. 15. Knowingly allowing a candidate to breach regulations or commit malpractice.
In the event of malpractice In the event of suspected malpractice, you should advise us in writing with full details of the
events with any relevant documentary evidence. We will instigate an investigation and advise the
candidate(s) of the investigation.
Investigation of malpractice (in accordance with OFQUAL guidance) The purpose of the investigation is:
1. To establish the facts relating to allegations/complaints in order to determine whether any
irregularities have occurred. 2. To identify the cause of the irregularities and those involved. 3. To establish the scale of the irregularities. 4. To evaluate any action already taken. 5. To determine whether remedial action is required to reduce the risk to current candidates and
to preserve the integrity of the qualification. 6. To ascertain whether any action is required in respect of certificates already issued. 7. To obtain evidence to support any sanctions to be applied to the candidate and/or to
members of staff, in accordance with the Institute’s own internal procedures. 8. To identify any patterns or trends.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 12
Process for investigation (from OFQUAL guidance)
Stage 1: Briefing and record-keeping Anyone involved in the conduct of an investigation should have a clear brief and understanding of
their role. All investigators must maintain an auditable record of every action during an
investigation to demonstrate that they have acted appropriately. All material associated with an
investigation will be securely stored in case of subsequent legal challenge.
Stage 2: Establishing the facts Investigators should review the evidence and associated documentation, including awarding body
guidance on the delivery of the qualifications and related quality assurance arrangements.
Issues to be determined:
What occurred (nature of malpractice/substance of the allegations)
Why the incident occurred
Who was involved in the incident
When it occurred
Where it occurred – there may be more than one location
What action, if any, the centre has taken.
Stage 3: Interviews Interviews should be conducted in accordance with the relevant codes for interviewing of the
nation concerned. Thorough preparation is needed prior to any interview. Interviews should
include prepared questions; responses should be recorded.
Interviewers may find it helpful to use the ‘PEACE’ technique:
Plan and prepare
Engage and explain
Account
Closure
Evaluation.
Face-to-face interviews should normally be conducted by two people with one person primarily
acting as interviewer and the other as note-taker. Those being interviewed should be informed
that they may have another individual of their choosing present and that they do not have to
answer questions. These arrangements aim to protect the rights of all individuals.
Stage 4: Other contacts In some cases, candidates or employers may need to be contacted for facts and information. This
may be done through face-to-face interviews, telephone interviews, by post or by email.
Whichever method is used, the investigator will have a set of prepared questions. The responses
will be recorded in writing as part of confirmation of the evidence. Investigators should log the
number of attempts made to contact an individual.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 13
Stage 5: Documentary evidence Wherever possible, documentary evidence should be authenticated by reference to the author;
this may include asking candidates and others to confirm handwriting, dates and signatures.
Receipts should be given for any documentation removed from a centre. Independent expert
opinion may be obtained from subject specialists about a candidate’s evidence and/or from a
specialist organisation such as a forensic examiner, who may comment on the validity of
documents.
Stage 6: Conclusions Once the investigators have gathered and reviewed all relevant evidence, a decision is made on
the outcome.
Stage 7: Reporting A draft report is prepared and factual accuracy agreement obtained. The final report is submitted
to the relevant regulatory authority.
Stage 8: Actions Any resultant action plan is implemented and monitored appropriately.
3.10 Position statement on use of Welsh and Irish
All training and assessment documents are published in English. We continually monitor the need
for documents in other languages specifically Welsh and Irish. In the event of sufficient demand,
we will arrange for translation of materials and assessments. The assessments will be based on
English law and practice. Candidates wishing to be assessed on the basis of Scottish law and
practice should advise us at registration that they wish to answer on this basis.
3.11 Equality of opportunity policy
We comply with all UK and European laws applicable in relation to discrimination on any grounds.
Accordingly, we are committed to providing equality of opportunity and fair treatment for all. We
will not discriminate on the basis of gender, age, marital status, sexual orientation, ethnic origin,
religion, culture or disability in dealing with candidates. When candidates first register for a
qualification, they will be given a candidate number for their assessment. Throughout the
assessment process, financial plans are labelled only with this number so anonymity is maintained.
The case studies used are based on real-life scenarios and are checked carefully to ensure that
they do not have any unfair bias or inaccuracies.
3.12 Confidentiality Policy
Any information relating to a candidate or potential candidate will always be regarded as
confidential information.
All materials, documents, and information that are provided or marked confidential will be held in
the strictest confidence and will not be discussed with anyone outside the IFP group, unless we
have your authority. Additionally, those in receipt of Confidential Information as a result of
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 14
working for the IFP group will only use it as necessary to perform their responsibilities in relation
to FPSB UK and not for any other purpose.
Computer systems are secured against unauthorised access or amendment and against loss
through accidental or deliberate damage, erasure or disclosure. Only authorised members of staff
are allowed direct access to the candidate assessment records. Manual records, including indexes
and computer printouts, are secured against unauthorised access or amendment and against loss
through accidental or deliberate damage, erasure or disclosure. Records are not normally taken
out of the building, but where this is necessary, extreme care is used in ensuring that no material is
lost or damaged in the process.
Any manual record containing confidential information that it is no longer necessary to retain is
shredded prior to disposal. Under no circumstances are such manual records discarded in any
other manner.
No question that involves confidential information will ever be answered over the telephone
without establishing the identity and authenticity of the caller - and if necessary confirming with a
manager if it is appropriate to impart the information.
3.13 Data Protection statement
Data Protection Any information that candidates provide to us will be added to our candidate database and will be
processed in accordance with the Data Protection Act 1998.
The information contained in our candidate database is used:
To enable us to deal with your registration and application and to provide you with the services requested
For internal record keeping
To enable us to send further information to you that we consider may be of interest to you
For general administration purposes in connection with any of the above.
We will not pass the information supplied by you to any other person, firm or company without
your prior written consent. We will not transfer any information you give us outside the EU.
Candidates have the right under the Data Protection Act 1998 to apply for a copy of any personal
information we hold about them and to have any inaccurate information corrected. To exercise
this right candidates should call us on 0844 873 3325 or email:
In accordance with UK Data Protection legislation, we reserve the right to charge a small
administration fee for providing this information.
3.14 Guidelines for challenging the validity of FPSB UK’s certifying procedures
Eligibility determinations If you have submitted your ‘Qualification Review Application’ and it has been declined by the
Examination and Certification Committee, you may challenge the validity of any decision by writing
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Page 15
to our Qualifications Director on the below address stating your reasons and enclosing any
evidence that you have.
General certification process If you have any concerns regarding the general process, you may challenge the validity of any
decision or procedures by writing to our Qualifications Director on the below address or to
[email protected] stating your reasons and enclosing any evidence that you
have.
FPSB (UK) Limited
One Redcliff
Bristol
BS1 6NP
You will receive an acknowledgement within five working days and a more detailed response
within one month.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
4 Certification Requirements
Policy on changes to certification requirements
4.1 Changes to Requirements
All changes to certification requirements will be published in the Certificate in Paraplanning
Handbook, and will be issued as news items in both the next available E-News bulletin, the
Financial Planner magazine and on the website www.financialplanning.org.uk/qualifications. In
the Introduction to Certificate in Paraplanning any changes in certification requirements within the
previous two years of publication will also be referenced.
4.2 Impact on Paraplanners
Successful candidates who meet the eligibility requirements may apply to the IFP to become a
Accredited Paraplanner. The IFP will assess all candidates for accreditation against the most
current accreditation requirements with immediate effect from the publication of such changes.
Candidates who are part-qualified Candidates are strongly advised to complete the Personal Taxation unit before entering for the
Principles of Financial Planning unit. Experience shows those embarking on the examination
process without the full entry requirements dramatically reduce their chances of passing the
examination.
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 Examination and Certification
Committee.
You will need to fully complete a ‘Qualification Review Application’ and submit this to the FPSB UK
together with the syllabus 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.
A Qualification Review Application can be downloaded from the website and is located within the
‘CFPCM Certification’ section under “Entry Requirements”: www.financialplanning.org.uk.
Entry Requirement Enquiries: If you have a specific query about entry requirements for the Certificate please contact us:
FPSB (UK) Limited
One Redcliff
Bristol
BS1 6NP
Tel: 0844 873 3325 Fax: 0117 929 2214 Email: [email protected]
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
APPENDIX I
FPSB UK Principles of Financial Planning Unit Qualification Framework QCF
Title Principles of Financial Planning
Unit Reference Number Y/504/3214
Unit Level Level 4
Guided Learning Hours 80
Unit Credit Value 8
Assessment Guidance This unit will be assessed by the following:
examination comprising MCQ and written
questions
N.B. This unit assumes a thorough understanding of personal taxation and candidates must be able
to demonstrate a pass in an appropriate taxation unit prior to commencing this unit.
Learning Outcome – the learner will Assessment Criterion – the learner can
1 Demonstrate an understanding of savings
and investments, both single premium and
regular premium solutions, and their tax
treatment and application in the Financial
Planning process
1.1 Understand the differences between active and
passive investment strategies
1.2 Understand structured products
1.3 Understand tax wrappers
1.4 Explain product wrapper selection, where
appropriate, including open-ended versus
closed-ended wrappers, to maximise tax
efficiency
1.5 Understand onshore and offshore investments
and their tax treatments and applications
2 Demonstrate an understanding of, and the
ability to analyse, protection solutions, their
tax treatment and application in the
Financial Planning process
2.1 Understand whole of life policies
2.2 Understand term assurance policies
2.3 Understand income protection policies
2.4 Understand critical illness policies
2.5 Understand private medical and accident
insurances
2.6 Understand long-term care and special needs
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
planning
2.7 Analyse how different protection solutions are
used to meet client needs and their tax
treatment
3 Demonstrate an understanding of, and the
ability to analyse, retirement solutions and
their tax treatment and application in the
Financial Planning process
3.1 Understand the structure, characteristics and
application of occupational, personal and state
pension schemes to an individual’s retirement
planning
3.2 Explain the introduction and impact of auto-
enrolment and employees’ options including
NEST
3.3 Understand “non-pension” retirement planning
products
3.4 Explain options for taking benefits at
retirement
3.5 Analyse the implications of retirement, divorce,
ill-health and death
4 Demonstrate an understanding of estate
planning and its application in the Financial
Planning process
4.1 Understand the basics of wills and will planning
i. Events that invalidate wills ii. Deeds of variation and will trusts
iii. The laws of intestacy 4.2 Understand powers of attorney including
Lasting Powers of Attorney
4.3 Understand the types of trusts available, their
taxation and application
5 Demonstrate an understanding of, and the
ability to apply, Financial Planning
fundamentals
5.1 Understand the key roles involved in Financial
Planning
5.2 Understand the six-step Financial Planning
process
5.3 Understand the key components of a Financial
Plan
5.4 Understand the importance of assumptions in
the Financial Planning process
6 Demonstrate an understanding of ethics and
Codes of Practice and their application in the
Financial Planning process
6.1 Understand FSA Approved Persons
Requirements (APER) and how they relate to
roles within firms
6.2 Understand the IFP Code of Practice
6.3 Understand continuing professional
development
7 Demonstrate an understanding of risk and 7.1 Understand different types of risk to which a
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
its application in the Financial Planning
process
client may be exposed
i. Systemic and non-systemic risk ii. Economic, political, market, volatility,
longevity, deviation from an index, inflation/ deflation etc
7.2 Determine what clients understand by risk
i. Not achieving expectations – returns, outcome etc
ii. Risk of losing money / value iii. Risk tolerance and capacity for loss
7.3 Understand the relationship between risk and
return
7.4 Understand how to mitigate investment risk
while maintaining target returns
i. Diversification ii. Hedging
8 Demonstrate an understanding of assets and
liabilities and their application in the
Financial Planning process
8.1 Identify assets, liabilities including loans and
debts, and irregular capital receipts from client
information
8.2 Prepare a Net Worth Statement
i. During lifetime ii. On death
iii. On specific events such as illness, disability and retirement
8.3 Calculate investible capital / excess liabilities
9 Demonstrate an understanding of income
and expenditure and their application in
the Financial Planning process
9.1 Identify gross and net income receipts and
expenditure
9.2 Identify benefits in kind and other non-cash
receipts
9.3 Prepare Income and Expenditure Analysis
9.4 Calculate net spendable income/income
shortfall
10 Demonstrate an understanding of areas for
Financial Planning and how to apply them
10.1 Prioritise client needs, goals and objectives
10.2 Identify additional issues and problems
10.3 Analyse existing resources towards needs,
goals and objectives and additional issues and
problems, where appropriate
11 Demonstrate an understanding of
assumptions and their application in the
Financial Planning process
11.1 Understand the importance of assumptions in
the Financial Planning process
11.2 Understand use of assumptions to project
future values of assets, liabilities, incomes,
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
expenditure and cost of goals and objectives
11.3 Understand the effects that changing
assumptions may have on a Financial Plan
12 Demonstrate an understanding of research
and its application in Financial Planning
process
12.1 Understand what information may be missing
from a fact find or client meeting notes
12.2 Understand where and how to obtain further
information
13 Demonstrate an understanding of asset
allocation and its application in the
Financial Planning process
13.1Understand different asset classes: cash, fixed
interest, property, equities and alternative
investments
13.2 Analyse existing asset allocation vs. risk profile
13.3 Determine appropriate asset allocation for
client circumstances
13.4 Understand how to achieve appropriate asset
allocation
13.5 Understand portfolio drift and rebalancing
14 Demonstrate an understanding of the
principles and application of cashflow
forecasting
14.1 Analyse cashflow at key lifestages
i. Current ii. At retirement
iii. On ill-health iv. On death
15 Demonstrate an understanding of the
required documentation and its application
in the Financial Planning process
15.1 Understand the documentation required to
be provided to the client and when it should
be provided
15.2 Draft initial recommendations for the
Financial Plan
i. Understand the advantages and disadvantages of different strategies
ii. Understand the implications of the different strategies on other parts of the Financial Plan
iii. Know what should be included in a “Suitability” letter
iv. Understand what should be included in a Financial Plan
15.3 Understand what is required to ensure that all
recommendations and documentation are
compliant and technically correct
15.4 Assess the appropriateness, affordability and
relevance of the current recommendations
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
16 Demonstrate an understanding of client
reviews and their application in the
Financial Planning process
16.1 Understand the reasons for reviewing a
Financial Plan
16.2 Understand the process of a review and what
may be discussed at a review meeting
16.3Understand how to initiate the review meeting
and gather data
16.4 Understand actions that may be required
after the review
i. Reassessing and rebalancing asset allocation
ii. Review of existing financial solutions
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
APPENDIX II
The Principles of Financial Planning Exam: Fees and Dates FPSB (UK) offers a range of options for candidates to maximise flexibility and to ensure that each candidate can access the combination which is most appropriate their own individual needs.
Examination Dates 2013*
All examinations will take place in Bristol and regional venues on the dates below
Bristol Exams
30th January FPSB UK Office 26th February FPSB UK Office 27th March FPSB UK Office 24th April FPSB UK Office 29th May FPSB UK Office 26th June FPSB UK Office 31st July FPSB UK Office 28th August FPSB UK Office 25th September FPSB UK Office 30th October FPSB UK Office 27th November FPSB UK Office 18th December FPSB UK Office
Regional Exams
28th February London 28th March Manchester 25th April London 30th May Scotland* 27th June London 29th August London 26th September Manchester 31st October London 28th November Scotland* 19th December London
2013 Fees
£165 Exam entrance and assessment
*All dates are subject to minimum numbers. FPSB UK reserve the right to change the date and / or venue in the event of this requirement not being met. Entries should be received by FPSB UK 30 days before the Examination date. Other venues and dates may be available subject to sufficient numbers. Please contact [email protected] for details
Please note that VAT is not applicable to qualification related fees.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
The Principles of Financial Planning
EXAM REGISTRATION FORM
1. Candidate Information
First Name: Title:
Last Name:
Job Title:
Company/Organisation:
Company Address:
Town / City: Postcode:
Telephone:
Email:
IFP Member? Yes No Membership No.:
2. Exam and Assessment
Bristol Exams Regional Exams
30th January FPSB UK Office
26th February FPSB UK Office 28th February London
27th March FPSB UK Office 28th March Manchester
24th April FPSB UK Office 25th April London
29th May FPSB UK Office 30th May Scotland*
26th June FPSB UK Office 27th June London
31st July FPSB UK Office
28th August FPSB UK Office 29th August London
25th September FPSB UK Office 26th September Manchester
30th October FPSB UK Office 31st October London
27th November FPSB UK Office 28th November Scotland*
18th December FPSB UK Office 19th December London Time and venue of exams will be advised two weeks before exam date. *Venue city dependent on demand
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
3. Eligibility Requirements
Please refer to the entry requirements which can be found in the CFPCM
Certification Handbook and Certificate in Paraplanning Handbook. You will need to send in evidence of your examination passes (Certified copies or a CII learning statement is acceptable) along with this registration form in order to be eligible to register for the examination. Please indicate whether you are entering the exam as a CFP Certification or a Certificate in Paraplanning candidate.
#
Certified Financial PlannerCM
Certification candidate Certificate in Paraplanning candidate
Please list relevant exam passes-
#Only candidates that fulfil the entry requirements for CFP Certification will be allowed to request the CFP Certification
case study upon successful completion of the Principles of Financial Planning exam.
4. Payment
Total Amount Payable: £ 165.00
CHEQUE I enclose a cheque made payable to FPSB (UK) Limited for £165
CARD Please debit my card for the GRAND TOTAL above. Please select card type:
Mastercard Visa Visa Debit Other (Amex not accepted):
Name on card (as printed):
Card number:
Expiry date: 3 digit security no:
Card address (if diff to above):
Post Code:
Signature:
By checking this box you are agreeing to the Terms and Conditions of Booking. FPSB UK strongly recommend that you
read the booking terms and conditions as set out on the IFP website: www.financialplanning.org.uk.
Signed: Date:
Please return to: FPSB UK, One Redcliff Street, Bristol, BS1 6NP. P: 0844 873 3325. E: [email protected]
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
APPENDIX III
The Role of the Paraplanner For some Paraplanners the role is a stepping stone to becoming a Financial Planner, for others it is a career in its own right.
Paraplanner Job Role It is assumed that a Paraplanner is not authorised to give investment advice, that the Financial Planning practice comprises one or more of the following:
Financial Planners who are CFPCM Professionals
Paraplanners
Administrators. It is recognised that there will be differences but the following job role is based on this model which can be easily adapted to other arrangements. It is important that the Financial Planner, Paraplanner and administrators work well together as a strong team, offering assistance to clients irrespective of whether or not the Financial Planner is available. The Paraplanner role may be broken down into four key parts:
A. Preparing and maintaining the client file
B. Preparing recommendations
C. Implementing recommendations
D. Review.
A. Preparing and maintaining the client file Generally the Financial Planner should collect the qualitative information (client attitudes, life goals etc) leaving the Paraplanner to collect all the quantitative detailed information required to compile a financial plan. The Paraplanner may attend client meetings. Specific activities include:
Check all compliance paperwork is present
Confirm client risk profile is determined
Discuss client objectives with planner
Identify and obtain the information necessary to compile financial cashflow forecast
Compile draft net worth statement; income and expenditure statements and financial cashflow forecast and discuss with planner.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
B. Preparing recommendations Identify areas for planning
Undertake research both independently and with the Financial Planner to identify suitable solutions to meet the clients needs
Prepare information/comparisons for analysis by planner
Liaise with client’s legal and tax advisers (if applicable)
Consider current and future allocation of assets for investment strategy with regard to client risk profile
Prepare draft recommendation reports to be discussed / signed off by planner.
C. Implementing recommendations Prepare suitability letters in accordance with the agreed recommendations
Complete application / proposal forms
Ensure all compliance paperwork is in order
Make changes to clients’ investments as instructed
Implement the chosen investment strategies.
D. Review Act as main point of contact and deal effectively with queries from clients and other
parties through effective communication
Establish and build strong relationships with clients and attend client meetings with planner if required
Organise future planning meetings with client
Review investment portfolio, asset allocation, risk profile etc
Send planning figures to client for update and revision in preparation for next meeting
Initiate review meetings with clients.
Key skills/Experience required
Essential Understanding of the Financial Planning process
Ability to work within defined business processes
Ability to achieve agreed outcomes without supervision
Prioritise and plan own workload
Detailed and accurate
Articulate
Excellent inter-personal skills, both written and verbal
Ability to multi-task and prioritise effectively
Good IT skills
Good report writing skills
Ability to work independently and in a team.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
Desirable Broad knowledge of financial services world
High level of technical knowledge.
Desirable
FPSB UK Certificate in Paraplanning
Appropriate Examination for Advising on Packaged Products / Retail Investment Products
Personal Taxation Trusts
Investments
Other technical areas (Pensions, Long-term Care)
CFPCM Certification.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
Appendix IV
Recommended reading list
As well as studying the syllabus, we recommend that you familiarise yourself with the techniques associated with creating a comprehensive financial plan by consulting the following books:
SDB Training – Easy Steps Guides: (www.sdbtraining.co.uk)
Income Tax Calculations
IHT Calculations
CGT Calculations.
Financial Calculations Guide
Whillans Tax Tables – latest edition www.lexisnexis.co.uk
Time Value of Money Booklet (IFP) Available from the IFP either with or without a financial calculator, the booklet breaks down a variety of time value of money calculations into easy to remember steps. www.financialplanning.org.uk
Tolley’s Estate Planning Considers all aspects of estate planning, showing you how to formulate strategies for the provision, holding and devolution of personal and family resources. www.lexisnexis.co.uk
Financial Freedom – using the WealthFlow system by Duncan Glassey CFP
CM. Can be purchased from the IFP.
Clarify what financial planning means to you
Track and measure financial success
Feel more comfortable with your professional advisers.
Seven Stages of Money Maturity by George Kinder. From where do our attitudes about money come – how do they influence our lives? How can we approach financial planning with honesty and without fear?
The Life Assurance and Pensions Handbook - Taxbriefs This is the market leading guide for Advisers, updating legal and regulatory changes and acting as comprehensive aide memoir for advisers. www.taxbriefs.co.uk
Taxbriefs Tax Guide (latest edition) - Taxbriefs The most complete tax planning guide designed for advisers, covering not only personal tax issues but also the taxation of business.
Professional Advisers Fact File - Taxbriefs A handy source of data that every adviser needs to answer client questions and help explain and promote various aspects of financial planning.
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
DIY Financial Planning Guide By Jane Wheeler. Jane is a Fellow of the Institute of Financial Planning, a CERTIFIED FINANCIAL PLANNER
CM
professional and a Chartered Financial Planner. The Guide is based on Jane’s useful book for consumers on Financial Planning called “Sorted!” It gives helpful tips and guidance around key Financial Planning steps. Download DIY Finanical Planning Guide - http://www.financialplanning.org.uk/pdfs/DIY%20Financial%20Planning%20Guide.pdf
Hutton on Estate Planning The indispensable guide to private client capital tax planning written by Matthew Hutton (who has over 25 years of experience in advising, writing and lecturing on this subject) www.hutton-estate-planning.co.uk
Calibrand Diploma in Professional Financial Advice Training materials to support the Diploma – available free from www.calibrand.com
The process of financial planning – Taxbriefs A practical guide for financial advisers looking to begin re-engineering the way they give financial advice.
www.taxbriefs.co.uk
CFPCM, CERTIFIED FINANCIAL PLANNERCM and 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.
Appendix I
Appendix V
Recommended websites:
We also recommend that you familiarise yourself with the various technical data and techniques
associated with creating a comprehensive financial plan by consulting the following websites:
Useful websites
1. FSA PWC document on assumptions for projection rates: www.fsa.gov.uk/pubs/other/projection_rates.pdf 2. Debt Management Office for information on the UK gilts market: www.dmo.gov.uk/ 3. International Property Databank index: www.ipdindex.co.uk/results/indices/indices.asp 4. Retail Prices Index history www.statistics.gov.uk/STATBASE/tsdataset.asp?vlnk=229 5. Barclays Capital Equity Gilt Study: www.barcap.com/egs/ 6. Official life expectancy data: www.gad.gov.uk/Life_Tables/Interim_Life_Tables.htm 7. Citywire ‘Deathometer’ – estimates life expectancy: www.citywire.co.uk/Deathometer/Home.aspx 8. School fees and escalation rates: www.isc.co.uk/index.php/347 9. Institute of Financial Planning – branch meetings, more courses, CFPCM certification and much
more: www.financialplanning.org.uk 10. Association of Investment Companies – investment trust and closed-ended investment
company data: www.theaic.co.uk 11. Investment Management Association – OEIC and unit trust data: www.investmentuk.org
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