What sort of help can your clients expect from the State when they retire. The Chartered Insurance Institute (also known as the CII) is a professional body dedicated to building public trust in the insurance and financial planning profession. Due to the extent of syllabus overlap, certain combinations of current and withdrawn units will result in only one award of credits. This is ultimately a people business, but we have a fiduciary responsibility, so technical knowledge is so important. This examination assesses a knowledge and understanding of the various pension products, the pension tax regime and retirement needs. Certificate in Financial Planning and Long-Term Care Insurance. Another version of the CII designation is available to claims practitioners who have completed the relevant examinations and who are members of the Faculty of Claims. NVQ level 3, vocation qualifications level 3, GCE AS 7 A level, Scottish higher, SVQ level 3. In the long term this will benefit my career, as the CII chartered status will be the gold standard. Mr OHalloran, a chartered adviser and fellow of the CII, wrote to Dr Alexander Scott, chief executive of the CII, after being rejected by Liverpool University where he had applied to study for a doctorate. This qualification develops advanced technical knowledge and understanding across a broad range of key advisory areas. (EP2) London market insurance essentials (EPA), (W01,W02, WH1, HGT, WM1) Award in general insurance (non-UK / Hong Kong)*, (LM3) London market underwriting principles, (WUE, WUA, WUT) Insurance Underwriting (non-UK)*, (P01) Insurance practice and regulation/ (P02) Long-term insurance, (EP1)Insurance, legal and regulatory(EPA), (W01,W02, WH1, HGT, WM1) Award in general insurance*, (IN7) Indian Healthcare Insurance Products*, (M98) Marine hull and associated liabilities. Nick has been writing professionally on money and business topics for over 15 years, and has previously written for leading accountancy firms PKF and BDO. By using and browsing the CII website, you consent to cookies being used in accordance with our policy. News & analysis delivered directly to your inbox But things have changed and now they all have something to offer advisers. You can skate through the DipFA and not really know that much about either pensions or investments, however the DipPFS tests you on each aspect of financial planning. However, employers are generally more interested in your skills and personal attributes and what you can contribute to the role. This qualification assesses a knowledge and understanding of an ability to analyse pension and retirement planning issues. Recognition of prior learning. The qualification means that you can advise on regulated collective pensions and investment products, including all types of funds; as well as insurance products. Ordinary membership For holders of a CII Award qualification or no CII qualification Yearly: 84.00 Admission fee: 37.00 Certificate membership For holders of a CII Certificate qualification Yearly: 140.00 Admission fee: 37.00 Diploma membership For holders of the CII Diploma in Insurance Yearly: 185.00 Admission fee: 37.00 Each insurance licensing exam presents its own challenge. One of the following CII qualifications, or equivalent, must be held to complete the Diploma: Certificate in Financial Services (General route) Certificate in Financial Services (Life and pensions route) Certificate in Regulated Financial Services Operations Withdrawn Certificate in Financial Planning Recognition of prior learning Study time Due to the extent of syllabus overlap, certain combinations of current and withdrawn CII units will result in only one award of credits. We are a professional body dedicated to building public trust in the insurance and financial planning profession. The most relevant units are DB transfers or long-term care planning, Chartered proves you are technically knowledgeable, but certified helps you put it into practice, he says. Commentators agree that the CII excels in terms of its high level of technical knowledge, but feel the other bodies are perhaps more geared towards financial planning in practice. The CII's Diploma in Regulated Financial Planning, conversely, is more detailed, slower and more expensive. This qualification enables professional advisers to develop specialist planning capabilities, covers topics like: personal tax and trust, business financial, pension and investment planning. P92and M92. What is CII qualification equivalent to? - Shabupc.com Here's what our recent exam takers told us about CISI qualifications. We are a professional body dedicated to building public trust in the insurance and financial planning profession. Qualifications that will earn wealth managers big bucks In terms of current and withdrawn CII units, only units CF3 and J08 have this degree of learning outcome match against the comparable new units, R05 and R06, respectively. Answers to your questions about the scheme. All rights reserved. Designations - Chartered Insurance Institute Insurance underwriters establish pricing for accepted insurable risks. If you would like to subscribe to the monthly magazine please click here. I passed the DipFA before getting my current post. Despite the branching out into financial planning in recent years, advisers still associate the CISI with investment. Interesting article James Woods, I personally chose the cii route for its flexibility in particular at diploma level because I was able to mix and match modules and accelerate progress quite which I wanted at the time to get my diploma quickly and I am wierd in that I like exams over coursework whereas the libf had a more structured approach which didn't work for me but I think its better to have options that can cater for different learning styles. All rights reserved. There are 2 comments at the moment, we would love to hear your opinion too. Most will take the CII's Advanced Diploma in Insurance, which is also known by its designatory letters ACII. This qualification assesses a knowledge and understanding of the UK regulation environment in the financial services industry, mortgage products, repayment options and the giving of mortgage advice. This qualification helps advisers develop and demonstrate their financial planning capabilities. For non-CII qualifications, see our main qualifications menu here. Copyright 2023 The Chartered Insurance Institute. Please be aware that: Designed with market experts, we offer a range of relevant learning solutions to support you across the different sectors of the insurance and personal finance market. Associateship of the Chartered Insurance Institute (ACII) - IRMI Qualification Information. You can find most Level 3 qualifications at any school or sixth form college in the UK. Receive a bonus on completion of CII qualification; Roles are non-rotational and will vary dependent upon the business unit, however Apprentices roles fall within one of the following business areas: Risk Management: Working with the UK's largest clients to understand their business, the risks and what value looks like for them. Fellowship of the CII is universally regarded as the premier qualification for those working in the insurance industry. A minimum of 80% is required on the final exam to achieve an Honours mark. Generally speaking, it is not necessary to have a college degree to become a financial advisor. Seventeen and a half years of exam taking has to count for more than an honours degree level qualification., In Dr Scotts response, also seen by Financial Adviser, he wrote: If you feel, when making your defamatory statements that The CII has managed by blind obduracy to destroy the financial services industry, then I cannot understand why you do not resign your membership.. Both the appointments come as it has been announced chief commercial officer [], Accountancy and wealth management firm Old Mill has overhauled its business and put in place ambitious plans to double in size by 2026. The holder must demonstrate a combination of experience, financial qualifications, ongoing educational activity (continuous professional development) and ethical behaviour. On satisfaction of the gap fill requirements they will have obtained a Statement of Professional Standing from an FCA Accredited Body. Qualifications. Accreditation. AF1 Personal tax and trust planning. Associateship of the Chartered Insurance Institute ACII The Associateship of the Chartered Insurance Institute (ACII) is a professional designation, established in the United Kingdom, identifying an individual who has satisfactorily completed 10 examinations on insurance and general business topics. AF4 Investment planning. What is CII qualification equivalent to? 120 of these must be at Level 6 (AF exams), including AF5. If you do not consent, you are always free to disable cookies if your browser permits, although doing so may interfere with your use of some of our sites or services. This examination assessed knowledge and understanding to analyse and evaluate a clients circumstances and financial needs and produce a holistic financial solution based on an in-depth knowledge of financial services products. All rights reserved. . Is it worth being chartered, certified and a Fellow of the PFS? On average, it takes most students roughly two to five years to complete the program. In terms of current and withdrawn CII units, only units CF3 and J08 have this degree of learning outcome match against the comparable new units, R05 and R06, respectively. These range from Key fact booklets and Question packs, to Learn online tutorials. Over a 6 week period, this 150 hours amounts to about 25 hours per week. Working within . We are a professional body dedicated to building public trust in the insurance and financial planning profession. In my opinion the DipFA was designed to meet the needs of larger tied providers such as Quilters that need to get people out selling products.