The Chartered Insurance Institute (CII) level 6 Advanced Diploma in Financial Planning develops specialist financial planning skills and knowledge.
To complete the Advanced Diploma, candidates must already hold the level 4 CII Diploma in Financial Planning or the CII Diploma in Regulated Financial Planning.
The Advanced Diploma is made up of a selection of units totalling 290 credits. Candidates must sit one mandatory unit, the AF5 Financial planning process (30 credits). The remaining credits can be made up of a combination of units. A total of 120 credits must be at level 6, taken from the AF exams (including the AF5), a further 40 credits must be at level 4 or above (the J0 and R0 exams), and the remaining 130 credits can come from any unit except LF1.
Each AF and J0 exam unit covers a specific area of the specialist technical knowledge.
The table below provides an overview of the units choices, their credits, pass mark, national pass rate, and the number of study hours recommended by the CII.
Let’s assume you have done all your R0 papers as part of the Diploma in Regulated Financial Planning and have at least 100 credits under your belt. This means you have to achieve 190 credit shortfall with 120 of these credits coming from the Level 6 AF exams.
There is no one recommended panacea in relation to the order candidates sit their exams in, but there are some notably cross-overs in the syllabus which means you can maximise your study time by studying for similar units concurrently:
Don’t be fooled into thinking the AF8 coursework exam is an ‘easy’ option – it’s not! You have to submit each assignment within a maximum timescale – Assignment 1 within 3 months of enrolment, Assignment 2 within 6 months and Assignment 3 within 9 months. AF8 is assessed on submission of 3 written coursework assignments, the first two must be 2,500 words and the third 3,000 words.
Timescales depend on what else you are doing in addition to your study.
The CII publish recommended study hours for each unit. It may take you more or less time depending on your other commitments.
Candidates sometimes find they can progress through some units quickly whilst other units can take a little longer. This can depend on your prior experience and knowledge, or even your preferences and interests. Studying a unit that interests you will usually feel much easier than one that is outside your comfort zone.
In order to apply for Chartered Status with the CII you will need to:
· Hold the Advanced Diploma in Financial Planning
· Have five years’ relevant industry experience
· Be a CII or PFS member and adhere to the CII’s Code of Ethics and Conduct
· Demonstrate three years’ existing Continuing Professional Development (CPD) and commit to maintaining this activity
The Advanced Diploma in Financial Planning is examined by the Chartered Insurance Institute (CII).
Candidates need to enrol for each unit separately and can do so one at a time.
Each unit is ‘purchased’ from the CII website but be aware, the default option is to purchase ‘enrolment plus’ which includes the exam sitting and examining body revision aids.
Candidates do not have to purchase the examining body study text and revision aids. It is possible to purchase the unit as ‘assessment only’ which means just the exam voucher. You are then free to shop around for study materials that suit you.
You can read more about the CII Advanced Diploma in Financial Planning in the downloadable CII Qualifications Brochure.
The CII website also has several short videos to help candidates navigate the process of booking their exam.
The videos are well explained and guide candidates through the processes in an easy-to-follow fashion.