FINANCIAL PLANNING TRAINING GUIDE 2008

Copyright © Institute of Financial Planning Limited 2008. All rights reserved. Material published in this publication is copyright and may not be reproduced in whole or in part including photocopying or recording, for any purpose without the written permission of the copyright holder. Such written permission must also be obtained before any part of this publication is stored in a retrieval system of any nature.

CONTENTS

Welcome to the IFP – Nick Cann (CEO) Page 1

Workshop Flowchart Page 2 Workshop Descriptions Page 3 IFP Foundation Workshop Page 4 Core Skills in Financial Planning Workshop Page 6 Financial Planning Preparation Day Page 8 CFP Home Study Option Page 10 CFP Fast Track Assessment Page 11 Appendices -: Page 13 CFP Entry Requirements Booking Terms and Conditions Workshop Registration Forms:

IFP Foundation Workshop Core Skills in Financial Planning Workshop Financial Planning Preparation Day CFP Home Study Option CFP Fast Track Assessment

Published by: Institute of Financial Planning

Whitefriars Centre, Lewins Mead Bristol BS1 2NT Phone: 0117 945 2470 Fax: 0117 929 2214

The Institute of Financial Planning Ltd, a Company Limited by guarantee Reg in England No2109630 Registered Office: Whitefriars Centre, Lewins Mead, Bristol BS1 2NT

VAT No 489 2013 33

WELCOME

The Institute of Financial Planning is the UK professional body of those committed to the development of the multi-discipline profession of Financial Planning. We constantly work with members of the public, Financial Planners and members of the Institute to achieve recognition for the Financial Planning profession. The Institute of Financial Planning can help you understand more about how comprehensive Financial Planning differs from the more product orientated broking service. The ultimate aim of our training programme is to enable members to develop their skills as a Financial Planner and strive towards

obtaining the Certified Financial Planner Licence and Fellowship status, through attendance at workshops and other events. A CFP Professional will find themselves at the top of their profession in a position to offer a very valuable and profitable service to their clients. When dealing with a CFP Professional a consumer knows that he or she is dealing with a practitioner who is academically and practically qualified to provide a comprehensive Financial Planning service at the highest level. By becoming a CFP Professional you will be joining the top 4% of Financial Intermediaries in the UK and joining a community of around 105,000 professional Financial Planners around the world. Our series of workshops are set at different levels to guide you through the varying stages of Financial Planning dependent upon your current experience. Upon attending an IFP workshop, you can be assured of an experienced IFP trained facilitator and quality training material that can be used as a future point of reference. All our workshops also qualify as CPD for your ongoing professional development.

Nick Cann CFP Chief Executive IFP

WORKSHOP FLOWCHART

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CORE SKILLS IN FINANCIAL PLANNING A one day workshop which has been

specifically designed for those working as financial advisers or Financial Planners to develop their Financial Planning skills.

After completion, upon meeting the CFP entry requirements, delegates may wish to move onto the Financial Planning Preparation Day or CFP Fast Track Assessment.

IFP FOUNDATION WORKSHOP A two day workshop specifically designed

for paraplanners, based around the job competencies of a paraplanner.

This workshop is suitable for paraplanners or those with a minimum of 1 year’s experience working within a Financial Planning firm.

After completion, upon meeting the CFP entry requirements, delegates may wish to move onto the Financial Planning Preparation Day.

CFP FAST TRACK ASSESSMENT This is an intensive 4 day residential

course whereby candidates will produce a Financial Plan for assessment against the CFP standards, away from the distractions of work and family life.

It is NOT a course which teaches delegates how to produce Financial Plans.

FINANCIAL PLANNING PREPARATION DAY This workshop is designed for those who are

already familiar with the Financial Planning process and methodology and wish to fine tune or test their skills in preparation for submitting their CFP case study.

After completion, delegates may wish to move on to either the CFP Home Study route or the CFP Fast Track Assessment.

CFP HOME STUDY Candidates are given 12 weeks to

produce a Financial Plan, based on a case study which is provided by the Institute. Candidates will need to integrate an average of 70 hours of study into the 12 weeks.

A tuition manual will need to be purchased to guide delegates through the process.

In addition to these workshops, the IFP is committed to supporting our members in a variety of ways:

Special discount members’ rates on all workshops and events which take place throughout the year and are countrywide.

Monthly e-news detailing forthcoming events and general Financial Planning news. Access to the members’ only website upon joining the Institute Free attendance to regular branch meetings nationwide Annual “Forum for Success” - two day conference plus other regional one day

conferences The Institute’s popular magazine “Financial Planner" is provided free of charge to

members and is published 10 times a year. A variety of products and services are available to members at discounted prices

WORKSHOP DESCRIPTIONS

FINANCIAL PLANNING SKILLS WORKSHOPS:

OPTION ONE: IFP FOUNDATION WORKSHOP – 2 days This workshop is based around the job competencies of a paraplanner. It has been designed to provide delegates with a comprehensive understanding of the key knowledge and skills required to successfully fulfil the role of a paraplanner within a Financial Planning business. OPTION TWO: CORE SKILLS IN FINANCIAL PLANNING – 1 day This one day workshop is ideal for those already working as financial advisers or Financial Planners to develop the technical aspects of the Financial Planning process. It is also an ideal workshop to understand what is required to become a CFP Professional. ROUTE TO BECOMING A CFP: STEP ONE: FINANCIAL PLANNING PREPARATION DAY – 1 day This workshop is designed for delegates who are familiar with the Financial Planning process and methodology and wish to fine tune or indeed test their skills in preparation for submitting their CFP case study. The main objectives of the day are to help delegates apply their knowledge to the CFP assessment standards, as well as to practice the preparation of a Financial Plan. STEP TWO (A): CFP FAST TRACK ASSESSMENT – 4 day residential The CFP Fast Track assessment is an intensive 4 day residential workshop, by the fourth day delegates will have produced a comprehensive Financial Plan ready for submission against the CFP standards. This workshop does NOT teach delegates how to produce a Financial Plan. OR STEP TWO (B): CFP HOME STUDY – up to 12 weeks For delegates who would like to take the CFP assessment but do not feel the intensive CFP Fast Track would suit their working style. The CFP Home Study options allow a delegate to order a case study and CFP tuition manual after which they have 12 weeks to produce a Financial Plan and then submit to the IFP for assessment.

IFP FOUNDATION WORKSHOP

Exclusive to the IFP this two day workshop is based around the job competencies of a paraplanner. It has been designed to provide delegates with a comprehensive understanding of the key knowledge and skills required to successfully fulfil the role of a paraplanner within a Financial Planning business. This unique workshop is highly inter-active with delegates being encouraged to take the opportunity to learn from each other during the various group based activities. A suitable period has been allowed between each workshop to ensure delegates can put into practice their new found skills. Day One: The day begins with a comprehensive overview and explanation of the six step Financial Planning process that is necessary to follow in every planning situation and the key functions that are performed by the paraplanner.

Step One Identifying financial objectives or problems Step Two Collecting and assessing all relevant personal and financial data

(including attitudinal data) Step Three Processing and analysing information Step Four Producing a written plan which describes how to make the most effective

use of financial resources to meet the agreed objectives Step Five Implementing the plan Step Six Reviewing progress and modifying the plan, as necessary, to take account

of changed circumstances.

The key skill focus on day one is the use of Financial Planning calculators. We consider this to be a fundamental requirement for Financial Planners generally and paraplanners in particular. The session on financial calculator fundamentals forms the foundation for the case study work completed during day one.

Day Two: Day two reinforces the key learning points from the previous day and extends the range of planning awareness by considering the key issues of goals and objectives identification and risk analysis. As in day one, delegates work through a case study in order to practice skills and identify/develop the level of knowledge required at particular stages of the six step process. Building on the skills associated with the Financial Planning calculator on day one, day two develops this by demonstrating how delegates can perform these tasks using Microsoft Excel. Delegates are shown how to construct simple Financial Planning spreadsheet templates in order to perform a series of “what if” scenarios. Having attended the workshop, one delegate commented as follows: “The knowledge I have gained from this course will help me to provide my advisers with calculations and projections prior to an appointment. It has improved my skills as a paraplanner also helped to prepare me for when I’m a Financial Planner myself”

Summary On completion of this workshop delegates will be able to:

Understand the Financial Planning process model Produce a client specific net worth statement and income and expenditure statement Recognise the interplay between a client’s stated objectives Identify the assumptions that will be required to produce a client specific plan Produce initial calculations using a financial calculator Practise Financial Planning analysis using Excel. Obtain a certificate of completion after both days have been attended.

Please note: this workshop does not cover specific product recommendations. Entry Requirements Minimum of FPC, Cert FP, CeFA; OR One year’s experience of working within a Financial Planning business.

2008 Workshop Dates/Venues Bristol Day One Tuesday 12th February Wednesday 23rd July Day Two Wednesday 2nd April Tuesday 23rd September London Day One Tuesday 18th March Tuesday 30th September Day Two Wednesday 14th May Thursday 20th November Birmingham Day One Thursday 29th May Tuesday 21st October Day Two Thursday 10th July Wednesday 3rd December Although we would encourage delegates to attend both days at the same location, it is possible to take day one and day two at separate locations. Confirmation of the venue will be sent to delegates a minimum of one week prior to the workshop. Workshop Fees IFP Member Rate Non-Member Rate For a SINGLE day only £250.00 £300.00 For BOTH days £400.00 £500.00 Included within the price of this workshop is the cost of a financial calculator. VAT is not applicable and travel or accommodation must be booked independently. Please refer to the workshop booking terms and conditions within the Appendix.

CORE SKILLS IN FINANCIAL PLANNING

This one day workshop has been specifically designed for those working as financial advisers or Financial Planners to develop their Financial Planning skills. It is also an ideal workshop to understand what is required to become a CFP Professional. The workshop has been designed to provide delegates with a comprehensive understanding of the key Financial Planning skills required to successfully produce a comprehensive high quality financial plan. It will also highlight areas for further learning that may be required before attempting the CFP assessment. This is a highly inter-active workshop which encourages delegates to take the opportunity to learn from each others experiences during the various group based activities. Programme The day begins with a comprehensive overview and explanation of the six step Financial Planning process that it is necessary to follow in every planning situation.

The key skills that are needed during this process, such as client communication, are also discussed. The use of financial calculators and excel spreadsheets is something we consider to be a fundamental requirement for Financial Planners, especially those wishing to sit the CFP assessment in the future. One of the key skills focus during this workshop is the use of Financial Planning calculators and the completion of a variety of time value of money calculations using client scenarios. A demonstration will also show delegates how they can perform these tasks using Microsoft Excel. Building on the six step Financial Planning process delegates will work through a case study and will review net worth statements and produce a detailed income and expenditure statement. Attendees will also be able to practise shortfall calculations based on client’s given objectives. Listening and communication skills are also practised. Summary On completion of this workshop delegates will be able to:

Understand the Financial Planning process model Produce a detailed, client specific, net worth statement and income and expenditure

statement Recognise the interplay between a client’s stated objectives Identify the assumptions that will be required to produce a client specific plan Produce time value of money calculations using a financial calculator Practice Financial Planning analysis using MS Excel.

Please note: this workshop does not cover specific product recommendations. If you have attended the two day Foundation workshop, you should not need to attend this course unless you would like a refresher.

Entry Requirements There are no formal qualifications required to enrol on this course but it is designed for

those advisers who have at least begun studying for more advanced qualifications such as the CII’s Diploma in Financial Planning or the SII’s Wealth Management Diploma, or any equivalent

There is no set criterion or amount of experience required before attending this course. Three years experience of working as an adviser or in the financial services sector is preferable to ensure understanding of issues addressed during the course

In addition, an open mind, a willingness to learn, and numeracy skills are a must. 2008 Workshop Dates/Venues

BRISTOL Wednesday 13th February Tuesday 22nd July

LONDON

Monday 17th March Thursday 11th September Wednesday 19th November

BIRMINGHAM Friday 30th May Monday 20th October

Workshop Fees IFP Member Rate Non-Member Rate Per Delegate £280.00 £330.00 Included within the price of this workshop is the cost of a financial calculator. VAT is not applicable and travel or accommodation must be booked independently. Confirmation of the venue will be sent to delegates a minimum of one week prior to the workshop. **Special Discount** After having completed the Core Skills in Financial Planning workshop, if you book onto either the Financial Planning Preparation Day or the CFP Fast Track Assessment, you will be entitled to a discount of £100.00 per delegate. This is only applicable if either workshop is booked within 6 months of attendance at the Core Skills in Financial Planning workshop. This discount can only be used in conjunction with one of the above mentioned workshops. Please refer to the workshop booking terms and conditions within the Appendix.

FINANCIAL PLANNING PREPARATION DAY

This workshop is designed for people who are familiar with the Financial Planning process and methodology and wish to “fine tune” or indeed “test” their skills in preparation for submitting their CFP case study. On completion of the Financial Planning Preparation Day, each candidate should be able to judge whether they are ready to enter a Financial Plan for assessment or whether further practice or training is required. In most cases it is hoped that candidates will feel ready to proceed to assessment. Programme The day is built around a client case study (in keeping with the CFP case study) with delegates working in small groups addressing a number of key questions regarding the client’s situation. The point of the exercise is to test the delegate’s abilities to construct answers that will meet the standards required for successful completion of the CFP assessment. With this in mind, the workshop facilitator will ensure that delegates understand how to produce answers that will meet the standards required. Delegates will then have 12 weeks to submit a Financial Plan, based on a case study (provided by the Institute of Financial Planning) You will be provided with a CFP tuition manual, to guide you through the process. The manual not only explains the procedure, but also highlights the standards required for a Financial Plan. There is also an example case study and model answer. Summary The objectives of this Financial Planning Preparation Day are: -

To help you to understand and be able to meet the CFP Assessment Standards; ♦ ♦ To enable you to practice the preparation of a Financial Plan; On completion of the Financial Planning Preparation Day, each candidate should be able to judge whether they are ready to enter a Financial Plan for assessment or whether further practice or training is required. In most cases it is hoped that candidates will feel ready to proceed to assessment. Entry Requirements Please refer to the Appendix for full details. Some comments from previous attendees are shown below. “In order to pass the CFP assessment I would recommend attending the Financial Planning Preparation Day. This includes practical exercises focusing on those areas of the plan that can cause the most difficulty for candidates. The assessment criteria are also covered in detail and this is valuable as it helps to define the standards required and the pitfalls to avoid. The day was well organised with plenty of time to complete the exercises and discuss any issues that resulted. Having attended the preparation day I felt much more confident of what was required and have no doubt that this assisted tremendously in helping me pass first time.”

2008 Workshop Dates/Venues

BRISTOL Tuesday 15th January Wednesday 7th May Tuesday 2nd September

MANCHESTER Wednesday 6th February Wednesday 22nd October

LONDON

Tuesday 15th April Tuesday 1st July Tuesday 11th November

BIRMINGHAM Wednesday 11th June

Confirmation of the venue will be sent to delegates a minimum of one week prior to the workshop. Workshop Fees IFP Member Rate Non-Member Rate Per delegate (tuition manual included) £260.00 £400.00 Case Study * £10.00 £10.00 Assessment Fee £150.00 £150.00 Resubmission Fees (maximum of 2) £75.00 £75.00 * The case study is free if ordered within 4 weeks of attending this workshop. VAT is not applicable and travel or accommodation must be booked independently. **Special Discount** If you have attended the Core Skills in Financial Planning Workshop you will be entitled to a discount of £100.00 per delegate. This will only be applicable if you have attended the course within the last 6 months.

Completion of the CFP Licence Once gained, the Certified Financial Planner Licence is an annually renewable licence. A renewal fee must be paid each year to the Institute of Financial Planning. You are also required to keep details of relevant Financial Planning CPD, detailed earlier in this chapter for new CFP licensees. You are also required to complete and sign a new declaration.

Please refer to the workshop booking terms and conditions within the Appendix.

CFP HOME STUDY

The 12-week home study option allows candidates to produce a Financial Plan based on a CFP client case study, over a 12 week period, ready for assessment against the CFP standards. Candidates will typically need to integrate an average of 70 hours of coursework into their daily lives in order to successfully complete the assessment. Assessment process On receipt of your case study you will be advised of the deadline by which you must submit your completed plan for assessment. Once submitted, two assessors will mark your Financial Plan against the CFP standards. The marking process will take approximately 6 – 8 weeks.

If your plan meets the required standards to pass, you will be advised in writing, and will be required to complete a CFP Licence declaration form to apply for your Licence. If however your plan fails to meet the standards, feedback will be issued to you outlining the areas which require improvement. You will then have a further 12 weeks to submit your revised Financial Plan. You will be allowed to make three submissions, after which you must order a new CFP case study if you have still not been successful.

Entry Requirements Please refer to the Appendix for full details.

2008 Fees

CFP Case Study £10.00 CFP Tuition Manual £60.00 Assessment Fee £200.00 Re-submission Fee (maximum of 2) £150.00 Completion of the CFP Licence Once gained, the Certified Financial Planner Licence is an annually renewable licence. A renewal fee must be paid each year to the Institute of Financial Planning and you will be required to join the Institute as a member. You are also required to keep details of relevant Financial Planning CPD, detailed earlier in this chapter for new CFP licensees. You are also required to complete and sign a new declaration.

CFP FAST TRACK ASSESSMENT

The CFP Fast Track is an intensive residential course whereby you will complete a Financial Plan for assessment over a 4-day period. You will most certainly be required to work in the evenings (outside of course hours) to meet the deadline for submission. A Facilitator will be present for the first 2 ½ days to guide you through the CFP standards and advise you how to apply each one to the CFP case study. However please note, you will not be taught how to carry out Financial Planning. It is assumed that you will have existing Financial Planning skills when attending this course. If you do not feel confident writing financial plans, and would like some guidance on how to apply the CFP standards using an example CFP case study, we recommend that you attend our Financial Planning Preparation Day. If you would like to fine tune your technical planning abilities (i.e. – how to use a financial calculator and/or Microsoft excel calculations), we advise you to attend our Core Skills in Financial Planning workshop. Programme Day 1 and day 2 of the Fast Track will be led by a fully trained CFP Facilitator. You will be given a brief introduction to the CFP Licence and will be set exercises to contribute towards your financial plan. For the majority of the course you will be working as an individual, as of course, your reports must be solely your own work. Before the facilitator departs on day 3, you will have a brief “one to one” session, to ensure that you are working on the right lines. You will then be supervised by an IFP representative, whilst you complete your report. Please note there is a large amount of typing involved in producing your financial reports, so ensure you use your time wisely! By day 4, you should be pulling everything together and cross-referencing your report with the CFP standards found in the manual. Your Financial Plan will then be collected by a member of staff from the IFP at 4pm. It will be assessed by two assessors independently on the following day. The results and feedback will then be communicated to you by email the following week. Entry Requirements Please refer to the Appendix for full details. Location The CFP Fast Track assessment takes place at the ADP Training Centre, Brislington, Bristol, and accommodation is at the Ramada Plaza Hotel, Redcliffe, Bristol. Sunday night accommodation is available for candidates travelling long distances at an additional cost of £65.00, which covers bed and breakfast. Comments from a previous attendee are shown below. “I went on the CFP Fast Track assessment in November 2005. I had previously attempted to take the course from home, but the usual work and family distractions made it very difficult. The course provided the disciplined environment that I needed to get the work done. The facilities and the course trainer were both first class and it really helped to be surrounded by like-minded individuals. Although the days are fairly long and the work is intensive, I really believe that without attending this course it would have been a very long time before I obtained my CFP. (And yes - I did pass!)”

2008 Workshop Dates

January March April June July 28th to 31st 10th to 13th 28th to 1st May 23rd to 26th 14th to 17th

September October October November December 15th to 18th 6th to 9th 27th to 30th 24th to 27th 8th to 11th

2008 Workshop Fees IFP Member Non-Member Inclusive Fee £1,750.00 £2,200.00 Inclusive Fee (including membership)

£1,850.00

The above price includes 3 nights full-board hotel accommodation, training centre facilities, CFP tuition manual, case study, CFP Assessment fees and the first year’s pro-rata cost of the CFP licence. Please note: there is an additional charge of £3.50 per day for car parking at the hotel – this charge will need to be settled by you personally when you check out on the morning of day 4 of the course. Internet access is available at the hotel if necessary at a high cost of £20 per 24 hours (as it includes pay per view channels). We strongly advise that you use the internet facilities at the training centre during the day (available 8am to 6pm) to avoid having to use this facility – however, if you do use the hotel internet, these charges will need to be settled by you when you check out. **Special Discount** If you have attended our Core Skills in Financial Planning Workshop you will be entitled to a discount of £100.00 per delegate. This will only be applicable if you have attended the course within the last 6 months. Completion of the CFP Licence Once gained, the Certified Financial Planner Licence is an annually renewable licence. A renewal fee must be paid each year to the Institute of Financial Planning. You are also required to keep details of relevant Financial Planning CPD and complete and sign a new declaration. “Having recently completed the CFP Fast Track assessment I can honestly say that it was one of the most intensive courses I have ever attended, but also one of the most rewarding. The ability to get away from the office and telephone calls for four days was essential to my successful completion of the course. As we all know in the real world there are so many demands on our time that completion of exams and qualifications can often get pushed down the priority list. By studying the CFP in isolation in a focused environment it not only enables and encourages an environment of learning and understanding but allows a true appreciation of what is the very essence of what we all do. The attainment of the Certified Financial Planner designation is rapidly becoming a benchmark for switched on business-minded advisers who desire to give their clients a truly professional and holistic Financial Planning service. The Fast Track course is in my opinion the most efficient and rewarding way to achieve this.”

Please refer to the workshop booking terms and conditions within the Appendix.

Certified Financial Planner (CFP) Entry Requirements from 2008

To be eligible to embark on the process of becoming a CFP Professional there are three compulsory criteria which must be met:

1. A minimum of three years’ experience of financial services 2. An FSSC Appropriate Examination for Advising on Packaged Products 3. An examination pass in each of the following areas:

• Financial Planning • Taxation • Advanced Technical Area

1. Experience

A minimum of three years of relevant experience within financial services is required. Examples of the sorts of experience that are acceptable are: Working with financial figures in jobs such as financial accounts and banking Working as a paraplanner or financial adviser or accountant Examples of the sorts of experience that are not acceptable are: Occupations or experience outside the financial world or jobs that do not involve numeracy work or application of financial knowledge either directly to the public or in training those who come into contact with the public. Pure supervisory management in banking or motivational training where no financial information is analysed or applied for the benefit of advice to the public is not acceptable. 2. Appropriate Examinations

An appropriate examination for advising on packaged products must be held as detailed on the Financial Services Skills Council (FSSC) website: www.fssc.org.ukAlternatively, a complete list can be found by using the web address below: http://www.fssc.org.uk/cgi-bin/go.pl/exams/list_exams.html?cat_uid=106&PP_adviseTypical qualifications which are currently recognised are: • Certificate for Financial Advisers (CeFA) – ifs School of Finance • Financial Planning Certificate (FPC) – Chartered Insurance Institute • Certificate in Financial Planning (Cert FP) – Chartered Insurance Institute • Certificate in Investment Planning – Chartered Institute of Bankers in Scotland

3. Examination Passes Candidates must hold an examination pass in Financial Planning, Taxation and an Advanced Technical Area. Candidates cannot use the same examination in more than one area. Financial Planning - one of the following must be held: Chartered Insurance Institute: - FP3 – Identifying and Satisfying Client Needs – Financial Planning Certificate * - CF5 – Integrated Financial Planning – Certificate in Financial Planning - H25 – Holistic Financial Planning – Advanced Financial Planning Certificate * - G20 – Personal Financial Planning – Advanced Financial Planning Certificate * - G30 – Business Financial Planning – Advanced Financial Planning Certificate * - AF2 – Business Financial Planning – Advanced Diploma in Financial Planning - AF3 – Pension Planning – Advanced Diploma in Financial Planning - AF4 – Investment Planning – Advanced Diploma in Financial Planning - AF5 – Financial Planning Process – Advanced Diploma in Financial Planning ifs School of Finance - CeFA 3 – Paper 3 of the Certificate for Financial Advisers (taken before Oct 2004) * Securities and Investment Institute - Paper 3 – Investment Advice Certificate * Standards International - ISO 22222 – Personal Financial Planning Edexcel / SQA - N/SVQ in Providing Financial Advice

Taxation – one of the following must be held: Chartered Insurance Institute: - J01 – Personal Tax AND J02 – Trusts – Diploma in Financial Planning - G10 – Taxation and Trusts – Advanced Financial Planning Certificate * - AF1 – Personal Tax and Trust Planning – Advanced Diploma in Financial Planning Association of Taxation Technicians: - ATT or ATII

Advanced Technical Area – one of the following must be held: Chartered Insurance Institute: - G20 – Personal Financial Planning – Advanced Financial Planning Certificate * - G30 – Business Financial Planning – Advanced Financial Planning Certificate * - G60 – Pensions Planning – Advanced Financial Planning Certificate * - G70 – Investment Portfolio Management – Advanced Financial Planning Certificate * - AF2 – Business Financial Planning – Advanced Diploma in Financial Planning - AF3 – Pension Planning – Advanced Diploma in Financial Planning - AF4 – Investment Planning – Advanced Diploma in Financial Planning UK Society of Investment Professionals: - IMC – Investment Management Certificate Securities and Investment Institute: - Certificate in Investment Management - MSI(dip) - Diploma of the Securities and Investment Institute

Advanced Technical Area – continued: CFA Institute - CFA – Chartered Financial Analyst Membership of the following is also accepted as being sufficient in this area: - Associate or Fellow of the Faculty/Institute of Actuaries - Solicitor or Barrister – Law Degree (LLB) - Associate of the Institute of Chartered Accountants of England and Wales (ACA) - Associate or Fellow of the Chartered Certified Accountants (ACCA) - Associate or Fellow of the Institute of Chartered Accountants of Scotland (CA) - Associate or Fellow of the Pensions Management Institute (APMI/FPMI)

Additional Notes: * denotes a qualification that is no longer available to new entrants. Candidates who are part-qualified Candidates may start the CFP process whilst studying to obtain one set of the qualifications required as stated within the ‘examination passes’ section. Candidates will be expected to hold the entry requirements within the other two remaining criteria. Experience shows those embarking on the examination process without the full entry requirements dramatically reduce their chances of passing the CFP licence. The use of the CFP marks is prohibited until all the entry requirements have been met. It is important to note that you will have a maximum period of 2 years in which to achieve all of the entry requirements, after which time you will be required to take the CFP assessment again. Candidates who hold qualifications/examinations that are not listed If you hold an examination or qualification that is not included within any of the above lists and you believe it to be relevant, you may apply for a review by the IFP Education Committee. You will need to fully complete a ‘Qualification Review Application’ and submit this to the IFP together with the syllabi relevant to your qualification and an administration fee of £20. Please note, if any application is received either incomplete or without these items it will be returned. Candidates should allow between 8 – 12 weeks for a review. A Qualification Review Application can be downloaded from the IFP website and is located within the ‘professional development’ section under CFP Entry Requirements: www.financialplanning.org.uk CFP Entry Requirement Enquiries: If you have a query which is not addressed within this document please contact: CFP Entry Requirements Institute of Financial Planning Whitefriars Centre Lewins Mead Bristol BS1 2NT Tel: 0117 945 2470 Fax: 0117 929 2214 Email: enquiries@financialplanning.org.uk

Useful Contact Information: (1) The Chartered Insurance Institute (CII) W: www.cii.co.uk T: 020 8989 8464 (2) ifs School of Finance (IFS) W: www.ifslearing.ac.uk T: 01227 818 609 (3) Chartered Institute of Bankers in Scotland (CIOBS) W: www.ciobs.org.uk T: 0131 473 7777 (4) British Standards International Institute (BSI)/ Standards International W: www.bsigroup.com T: 020 8996 9001 (5) Association of Taxation Technicians (ATT) W: www.att.org.uk T: 020 7235 2544 (6) UK Society of Investment Professionals (UKSIP) W: www.uksip.org T: 020 7796 3333 (7) Securities and Investment Institute (SII) W: www.sii.org.uk T: 020 7645 0680 (8) CFA Institute (CFA) W: www.cfainstitute.org T: +1 (434) 951 5499 (9) Institute of Actuaries W: www.actuaries.org.uk T: 020 7632 2100 (10) Chartered Accountants of England and Wales (ICAEW) W: www.icaew.co.uk T: 020 7920 8100 (11) Association of Chartered Certified Accountants (ACCA) W: www.accaglobal.com T: 020 7059 5000 (12) Pensions Management Institute (PMI) W: www.pensions-pmi.org.uk T: 020 7247 1452

Workshop & Event Booking Terms & Conditions

The terms and conditions as defined in this document cover the following workshops and events: IFP Foundation Workshop* Core Skills in Financial Planning* CFP Preparation Day* CFP Fast Track Assessment* Fellowship Preparation Days* Transitions Workshops* All regional conferences and 1 day

regional events CFP Licensees’ Days

Values Based Financial Planning workshops

Pure Financial Planning workshops Fellows’ Day & Dinner George Kinder workshops Art & Science of Financial Planning 2 day

workshop Golf Day

These terms and conditions may also apply to other events as advised by the IFP. A copy of this document can be viewed via the IFP website within the ‘professional development’ section: www.financialplanning.org.uk Member Rates Member rates are only applicable to fully paid-up members of the IFP. The relevant membership number should be clearly written on the registration form. All registrations will be checked by the IFP. Payment Upon registration payment must be made by credit/debit card (Amex is not accepted) or by a cheque made payable to ‘Institute of Financial Planning’. Bookings made within 10 working days of the workshop are at the discretion of the IFP and must be paid for by credit card. No places can be reserved without payment. Group Size Certain workshops (marked with an * above) will take place with a minimum of four and maximum of ten delegates. The IFP reserves the right to cancel any workshop which does not achieve the minimum number of participants. Delegates will be informed no later than five working days prior to the date of the workshop. In this instance a full refund minus a charge to cover the costs of any materials or a transfer to another workshop will be offered. The IFP will not be liable for any additional expenses incurred by the attendee. IFP Workshop Cancellation In the unlikely event that the IFP needs to cancel a workshop we will endeavour to notify you as soon as possible before the workshop date. The IFP reserves the right to cancel or postpone a workshop and in such an event the total liability of the IFP for such a cancellation or postponement shall be limited to a refund of any fee paid by the attendee (minus a charge for any training material as appropriate).

Attendee Cancellation / Transfer/Substitution Policy Any cancellation, transfer or substitution must be made in writing or by email to the IFP. Cancellations

For cancellations received in writing more than 10 working days before the workshop/event date will incur a charge of 25% of the total cost of the workshop (plus/including a charge for any training material as appropriate).

Cancellations received within 5-10 working days of the workshop/event date will incur a charge of 50% of the total cost of the workshop.

Cancellations received within 5 working days of the workshop/event date will incur a charge of 100% of the total costs of the workshop.

Important note: If an attendee fails to attend a confirmed workshop/event (without prior written cancellation) no refund will be offered. Substitution of one attendee for another will be accepted without charge, but must be supported by a fully completed Registration Form. Substitutions Substitution of one attendee for another will be accepted without charge at any time but must be supported by a fully completed Registration Form. Please notify the IFP as early as possible if this is the case. Transfers Transfers are not applicable to all workshops and events. Please check with the IFP if you are considering transferring. If you wish to transfer your booking to a different workshop taking place within the following six months, you may do so, without incurring any charges. Notifications of transfers must be made in writing and received at the IFP no later than 10 working days prior to the workshop. Notification received after this time will be treated as a cancellation and will be subject to the normal cancellation charges. Important note: If you cancel a re-booked place at any time before the course start date, the total charge for the cancellation and re-booking will be 100% of the total cost of the workshop. Workshop Material Certain workshops (marked with an * overleaf) will include a variety of training material. Upon cancellation (either by the attendee or the IFP) an appropriate charge for the workshop material may be made as detailed below: CFP Tuition Manual £60.00 CFP Case Study Template £10.00 Core Skills in Financial Planning Tuition Manual £40.00 Foundation Workshop Tuition Manual £40.00 Fellowship Preparation Day Manual £40.00 Financial Calculator £45.00 Liability The IFP does not accept any liability for any property damage or loss incurred at any time during the workshop. The IFP shall not be liable (whether such liability arises due to negligence, breach of contract, misrepresentation, or for any other reason excluding fraudulent misrepresentation) for any loss of use of any software, data, loss or use of any computer or indirect, consequential loss or damage (including loss or damage suffered by the attendee as a result of an action brought by a third party) even if such loss was reasonably foreseeable or the IFP had been advised of the possibility of the attendee incurring the same.

Copyright Copyright relating to any workshop materials provided remains the sole property of the IFP. All training and reference materials and equipment provided by the IFP for use in connection with any workshop are provided for the exclusive use of the named attendee alone and must not be copied in whole or part. All rights in such materials are reserved. Non-Discrimination Policy The IFP complies with all UK and European laws applicable in relation to discrimination on any grounds. Accordingly, the IFP is committed to providing equality of opportunity and fair treatment for all. The IFP will not discriminate on the basis of gender, age, marital status, sexual orientation, ethnic origin, religion, culture or disability in dealing with candidates. Data Protection Any information that you provide to us will be added to our membership database and will be processed in accordance with the Data Protection Act 1998. For further information please email: enquiries@financialplanning.org.uk Registration Process To book a place at any of the above workshops please complete and return the relevant registration form to: Workshop/Event Registrations Institute of Financial Planning Whitefriars Centre Lewins Mead Bristol BS1 2NT Or alternatively by fax: 0117 929 2214 In the event that a workshop or event booking is made, this will be deemed to constitute acceptance by the attendee of these Terms and Conditions.