The new Diploma will be available to study from October on a distance learning basis and those completing it successfully will be eligible for Chartered status.
Anne Kiem, chief executive officer at the Institute, said: “We are offering this new qualification in response to a clear demand from the industry.
“Since its launch in 2008, the Level 4 DipFA has become one of the leading qualifications in Financial Advice. It is natural therefore, for us to want to build on this and offer the industry a new, higher level qualification, enabling advisers a way to continue their learning and showcase their commitment to professionalism.
“The Level 6 Advanced Diploma in Financial Advice builds on the characteristics which has made our DipFA qualification a success; its practical application, strong research bias and collaborative approach, all guided by tutor support.”
“The industry knows all too well that demonstrating high professional standards is key in today’s environment. Our new Level 6 qualification, through its design and academic rigour, coupled with Chartered status, offers advisers the ideal way to demonstrate this.”
The Level 6 qualification builds on the Institute’s Diploma in Financial Advice, the DipFA, a benchmark QCF Level 4 qualification. The Advanced DipFA is aimed at advisers who want to differentiate themselves from their peers and demonstrate their commitment to professional development and standards by going beyond the threshold qualification level.
The Advanced DipFA will consist of 3 mandatory units covering Managing Investments, Wealth Management Services and a third dealing with Taxation, Trust and Tax Compliance. Advisers will then choose two further optional units, from Pension Transfers, Strategic Management in Financial Services and Later Life Planning and Advice.
To be eligible for the programme, applicants must already hold a QCF Level 4 qualification, such as the Institute’s DipFA or an equivalent qualification in financial advice and planning.
Once achieved, Chartered status with the Institute will be maintained through membership of the Institute and by undertaking a structured programme of high quality annual CPD.
