A guide to Adv DipFA (Diploma in Financial Advice)
What is Adv DipFA?
Adv DipFA is a level 6 qualification provided by the London Institute of Banking & Finance and is registered with Ofqual in the Regulated Qualifications Framework (RQF) and recognised by the Financial Conduct Authority (FCA). It succeeds the DipFA qualification which is the qualification that is required to provide professional advice on retail investment(s). For many, Adv DipFA is completed in order to achieve Chartered Status.
What are the unit options?
This is best explained by the LIBF
How much does Adv DipFA cost?
“Registration – £460 for each unit (TTTC and MANI) plus the specialist unit options you decide to take. The total price includes study materials and exam entry.
You can choose from:
- CertLTCP at £395
- CeMAP Diploma at £495
- FPIR at £490
- PETR at £490
The price for Adv DipFA will vary however an example of the fee provided by the LIBF “If a student were to take CertLTCP and FPIR as their optional units the total price would be £1,805.”
- Exam resit – £215
- Coursework resit – £185
- Coursework resubmission fee – £95”
What are the entry requirements?
The LIBF state that “You must have passed the Level 4 Diploma for Financial Advice (DipFA) or an equivalent qualification that meets the current FCA retail financial advice standards.” So you need to have either DipFA or DipPFS to undertake Adv DipFA.
How long does Adv DipFA take?
“18 months to 2 years” with the Total Qualification Time standing at 550 hours.
What are the study materials?
- Access to their virtual library KnowledgeBank
- Online access to their student portal MyLIBF
- Online student forum and group activities
- Exam papers
- Coursework exemplars
- Online study materials
- Online tutor support
- You will be learning on their new VLE Brightspace
All of the above materials are included in the registration costs and therefore you will not have to incur any additional costs.
What are the assessment types?
The assessment for each unit will vary:
TTTC – Coursework and three-hour exam
MANI – Coursework and three-hour exam
CertLTCP – Tested by an electronic exam
CeMAP Diploma has two elements – Exam with 50 multiple-choice questions and coursework
PETR – Three-hour exam
FPIR – Forum contribution, video presentation and timed assessment
Where do I take Adv DipFA exams?
Adv DipFA exams will normally take place in Pearson VUE test centres which are scattered throughout the country.
What support is available for Adv DipFA?
Much like for DipFA, the LIBF provide a list of Accredited Learning Support Providers, however, the only one for Adv DipFA is Quilter Financial Adviser School
Adv DipFA is a great way to advance your career as a Financial Advisor or Paraplanner and, for many, is a stepping stone in achieving Chartered status. Keep your eyes peeled for more content relating to “How to revise for Adv DipFA” and for “A guide to the Advanced Diploma in Financial Planning” which is the Cii equivalent to the Adv DipFA on the Premier Jobs UK YouTube and blog.
Email: [email protected]
Telephone: 0208 0044 154