The Chartered Insurance Institute's Diploma in Financial Planning has been officially recognised as the equivalent to the first year of a degree course.
The decision was taken by the examinations regulator the Qualifications & Curriculum Authority (QCA), making the diploma a Level 4 qualification.
Launched in April 2006, more than 8000 exam units have already been sat for the diploma, which develops and assesses advanced technical knowledge and understanding across a range of key advisory areas.
The Diploma has been added to the QCA's National Database of Accredited Qualifications. QCA says level 4 qualifications recognise specialist learning and involve detailed analysis of a high level of information and knowledge.
CII deputy director general Bob Bullivant says: “Getting QCA accreditation is vital, not only does it signify a clear progression route to advisers wanting a professional development pathway, it also promotes public confidence in the integrity of CII qualifications.”
The CII Level 4 Diploma in Financial Planning (QCF) focuses on developing advanced technical knowledge in areas including: personal taxation, trusts, business taxation, pension funding, pension income, investment and supervision in a regulated environment.
“The Diploma is already proving extremely popular,” says Bullivant, “it was introduced as part of our review of the financial planning qualifications framework to make the transition from certificate to chartered level more manageable.
“It's aimed at advisers who want to build their technical knowledge and understanding before moving onto the Advanced Diploma level which will test their use of this information in a planning environment.”
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