Overview
The Practice of Financial Advice module has been designed to provide students with sound knowledge and understanding of the skills required to provide effective financial advice.
The module meets the Financial Services Authority (FSA) benchmark Level 4 knowledge requirements, and, when achieved as part of the Professional Certificate in Banking (PCertB®), is recognised by the FSA as qualifying the holder to advise on packaged financial products.
Under the FSA Retail Distribution Review (RDR), financial advisers are required to evidence a high standard of skills and knowledge through the completion of an approved Level 4 qualification, as part of the FSA’s approved person requirements. PCertB®, including this PFA module, will constitute such an FSA approved Level 4 qualification.
The module syllabus details the financial advice environment, ensuring the student is aware of the regulatory and ethical framework, before moving on to analyse the different types of customer needs, their taxation implications whilst developing an understanding of the principles and theories that underpin investment, retirement planning and protection before analysing the interrelationships of product areas, regulation, legislation and taxation. The module concludes by developing the learners’ understanding of the importance of consumer oriented communication and ethical behaviours through practical application of financial planning knowledge and skills to the advice process.
Course details
Cost
Distance learning
£735.00.
Next course start date
Course start date yet to be confirmed.
Credits
30 credits
Studying for this module
The course of study lasts 24 weeks and the overall study time for the module is 300 hours (approximately 12 hours per week), including assessment preparation time. You will be guided through your studies by the learning materials and supported by your associate lecturer.
Learning support
Distance learning: a more flexible approach to studying, which allows you to fit your learning around your job and other commitments. You will be supported by a subject associate lecturer who can provide guidance on how to study and answer any questions you have about the course content.
Learning resources
For each module you will receive a core text, written by industry experts and updated regularly to reflect the fast-changing nature of the financial services industry. ifs learning materials are developed specifically around each module syllabus and learning outcomes.
Through the ifs secure website you will have access to the following additional resources:
- student induction materials that provide guidance study skills and tips on preparing for assessment
- our e-library, ifs KnowledgeBank, which contains a wide range of current research and management data to help you with your studies. It gives you the opportunity to access a wealth of study material, which includes textbooks, financial glossaries and articles from leading journals. ifs KnowledgeBank is an important tool in enabling you to expand your knowledge and read around particular subject areas
- module discussion forums – you can use these to post questions to a web tutor, raise a query with the ifs or chat to other students
- electronic copies of learning materials giving you greater flexibility to choose when and where you study
Assessment
Comprises 2 assessment components:
- Coursework (30%)
- A three-hour written examination (70%)
Further details
View the Practice of Financial Advice summary syllabus .
View the full-length Practice of Financial Advice module specification, which includes the syllabus for the Professional Certificate in Banking.
If you are already registered for this module you should refer to your course website to view the module specification that relates to your session of study. You will need to log on to my ifslearning to access the course website for your module.
Click to view the fact find, question paper and coursework specimen papers.
View other FHEQ Level 4 modules.