Financial Planning Practice (R06) has been developed to help advisers develop and demonstrate their financial planning capabilities.
The default Enrolment option for this unit includes:
- Latest version of the core learning content, in digital format only.
- Additional revision aids.
- Assessment entry.
Financial Planning Practice (R06) tests the practical application of technical knowledge and planning skills already gained, typically through previous study, thereby supporting the provision of competent and appropriate advice.
The unit starts by looking at obtaining appropriate client information and understanding client’s needs, wants, values and risk profile essential to the financial planning process. It then looks at the range of client information, subjective factors ad indicators to provide the basis for financial planning assumptions and decisions. It considers a client’s situation and the advantages and disadvantages of appropriate options.
It moves on to formulating suitable financial plans for action, explaining and justifying recommendations.
Finally, it looks at implementing, reviewing and maintaining financial plans to achieve the client’s objectives and adapt to changes in circumstances.
Building a successful career in personal finance
Financial Planning Practice (R06) is a core unit for the Diploma in Regulated Financial Planning which meets the FCA’s qualification requirements for retail investment advisers. This unit is relevant for paraplanners, technical consultants and those in financial planning support roles. It is also relevant for those seeking additional CII credits towards completion of the Diploma in Financial Planning. those who do not hold additional CII credits counting towards completion of the Diploma in Financial Planning.
This unit enables candidates to demonstrate their expertise in the application of the financial planning process through combining and applying learning content from all the other units in the CII RQF level 4 Diploma in Regulated Financial Planning:
- Financial services, regulation and ethics;
- Investment principles and risk;
- Personal taxation;
- Pensions and retirement planning;
- Financial protection.
- 3-hour exam comprising 2 written case studies on financial planning practice (candidates receive the case studies 2 weeks prior to exam sitting)
- The nominal pass mark is 55%
- The 2020 pass rate for this unit was 78%
Study material - editions available
2020-21 edition (applicable to exams sat 01 Sep 2020 to 31 Aug 2021).