The new exam is proving extremely popular for financial advisers wanting to improve their investments knowledge and the CII already has nearly 700 entries for the next exam session on October 23. Entries for this session at the normal entry fee of £65 for CII members (£75 non-members) can be made until September 19.
The Savings and Investments examination is designed to bridge the knowledge gap in the investments market highlighted in the Sandler Report and in the feedback statement to the Financial Services Authority CP157 consultation.
CII marketing director Steve Wellard said, “The FSA feedback statement commented on a ‘strong feeling that all advisers need to be qualified in the area of savings and investments’ and this exam is clearly meeting that need.
“Qualifications have a vital role to play in driving up standards of knowledge and understanding and, in turn, improving the quality of advice. We are delighted that so many financial advisers are choosing to sit this new exam and expand their knowledge in this area.”
The CII’s Savings and Investments exam has been developed in consultation with the Industry. It builds upon the investment knowledge provided through benchmark qualifications such as the Financial Planning Certificate (FPC) but can be sat as a stand-alone exam for anyone specifically seeking to improve their knowledge and understanding of key investment products and practice.
A further benefit of the exam is that it also serves as a platform for further study, providing a half credit towards the CII’s Advanced Financial Planning Certificate (AFPC) when held in conjunction with the FPC.
Those taking the new exam will develop their knowledge and understanding of:
- the main economic factors affecting the potential risks and rewards from different types of investment.
- the product features and regulatory framework of retail investments.
- the potential taxation liabilities of mainstream retail investments.
-the principles of portfolio planning, including asset allocation, to meet clients’ needs.
