The Chartered Insurance Institute has pulled its level three Certificate in Financial Planning due to the number of candidates sitting this exam “falling significantly” due to the higher requirements needed for advisers to work in the Retail Distribution Review environment.
Due to the regulator’s decision to increase the minimum mandatory qualification level for advisers rose from QCF level 3 to QCF level 4, the CII said it does not feel the certificate is “relevant in today’s market”.
A spokesperson for the CII said: “We have seen the number of candidates for the Certificate in Financial Planning fall significantly.
“Following consultation with practitioners we have taken the decision to withdraw the Certificate in Financial Planning from our portfolio. A number of the units that support the qualification will remain and we will launch other units in due course to support a new Certificate in Financial Services.
“We will continue to recognise the Certificate of Financial Planning. Consequently, members can continue to use the designation Cert (PFS) and to claim credits against other CII qualifications.”