What is DipFA®?
The Diploma for Financial Advisers (DipFA®) is a qualification specifically designed for financial advisers.
Under the proposals within the FSA’s Retail Distribution Review, any individual who wishes to advise customers on retail investment products after 2012 will be required to hold a recognised Level 4 qualification.
The DipFA is an FSA – approved QCF Level 4 qualification
The DipFA®:
- is a challenging and relevant programme of study that builds on existing adviser expertise and qualifications and reflects what advisers actually do
- is accredited at Level 4 in the National Qualifications Framework and contributes to the key RDR objective to obtain a higher-level qualification by 2012
- enhances knowledge in core areas such as regulation, investment principles, risk, taxation and personal financial planning
- uses real-life scenarios to develop the essential skills to apply this technical knowledge in practice
- Is achievable within nine months.
Key facts
- DipFA® comprises two compulsory units: Financial Services Regulation and Ethics (FRSE) and Advanced Financial Advice (AFA)
- Both units are set at NQF Level 4
Studying for the DipFA®
With Simply Academy you will benefit from direct tuition. Various classroom based workshops will be provided throughout each stage of your studies. The basic learning materials will be provided online and you will be sent copies of the FRSE and AFA core texts. Email, telephone support and assignment reviews will be provided by your tutor.
Assessment
Assessment comprises of an objective test, a coursework assignment and an examination.
Unit 1 - Financial Services, Regulation and Ethics (FSRE)
The FSRE objective test is delivered electronically, available at over 150 test centres nationwide with confirmation of the result provided on the day.
Unit 2 - Advanced Financial Advice (AFA)
The second assessment will represent 30% of the overall unit weighting and will take the form of a written coursework assignment which should be submitted after approximately 16 weeks of study. The coursework will comprise a written piece of work with a word count of approximately 2,500 words, and a case study element. The pass mark for this assessment is 50%.
The third assessment will represent 70% of the overall unit mark weighting and will take the form of a written examination combining knowledge, understanding and application of AFA. This assessment will be taken at an examination centre at the end of the period of study, intended to be within a period of 36 weeks, and will involve the production of a Factfind. You will receive the Factfind 6 weeks prior to the examination date. The pass mark for this assessment is 50%.
You are required to pass all 3 assessment elements.
After you pass
Upon successful completion of this qualification you can use the letters DipFA after your name.
