Level 6 Financial Planning in Retirement (FPIR)
As your clients move through their retirement journey, their needs and circumstances are likely to change. The idea of what retirement looks like is also continually changing.
Retirement isn’t just about pensions anymore – fewer people have access to defined benefit schemes and more rely on several sources of income after retirement.
Helping your clients understand the need for effective retirement planning is, therefore, more important than ever.
FPIR will develop your knowledge and understanding across a broad range of areas relevant to later life planning, enabling you to offer advice in more areas – from pensions and inheritance tax to long-term care.
By developing your analytical skills and financial knowledge, you’ll be able to focus on your clients’ needs to ensure they have sufficient funds for their retirement goals. And because later life planning has become more complex, you need to take a holistic approach:
using cashflow modelling
encompassing all your clients’ potential revenue streams and assets, and
taking advantage of any available tax allowances.
To do that well, you need to able to ask difficult questions – about long-term care, health, life expectancy and funeral planning for example.
This practical course has a new assessment style – more in line with an adviser’s daily role. That means you can put into practice what you learn straight away.
You can study FPIR on its own or use it as an optional Level 6 module in the Level 6 Diploma in Financial Advice (Adv DipFA), which can lead to chartered status.
During your studies, you’ll become a Member of LIBF (MLIBF), receiving benefits including careers support and access to professional networking events.
How will I study?
Everything is online, and you’ll follow a structured timetable.
Fees
£540 – includes study materials, assessments and exam entry.
Who can study FPIR?
Financial advisers
Financial consultants
Paraplanners
Financial planners
Independent financial advisers (IFA’s)
Wealth advisers and wealth managers
Retail investment advisers
To study FPIR you must already hold a Level 4 financial advice qualification approved by the FCA, with us or another awarding body. If you have not, please see our Level 4 Diploma for Financial Advisers (DipFA).
If you have qualifications from us or another awarding organisation, you may be able to count them as credits towards FPIR. See our Recognition of Prior Learning policy.
Study duration
Five months
Modules
One
What your studies will cover
What you need to consider for retirement planning
Assessing your client’s needs and aspirations for when they want to retire
Examining your client’s current financial position
Understanding cashflow tools and management
Retirement income generation strategies from a range of pensions and investments
Considering the options for later life and inheritance tax (IHT) planning
Analysing estate planning
Your qualification at a glance
Assessments
Various assessments. View the assessment section for further details.
Once you’ve passed you’ll receive a digital certificate. A paper copy can also be ordered for an additional fee.
Regulation
Registered with Ofqual in the Regulated Qualifications Framework (RQF).
Module information
Before you can register for the Level 6 Financial Planning in Retirement (FPIR), you must have passed the Level 4 Diploma for Financial Advice (DipFA) or an equivalent qualification that meets the current FCA retail financial advice standards.
If you do not have this qualification then please visit our DipFA page.
Are you eligible for an exemption?
If you have qualifications from us or another awarding body, we may be eligible to apply for recognition of prior learning.
What study materials do I get?
As part of your fee, you’ll get:
online access to all study materials through our virtual learning environment, Brightspace
online student forum and group activities
exam papers
online tutor support
access to our virtual library KnowledgeBank
online access to our student portal, MyLIBF.
Timetable
You can register for one of the following study sessions throughout the year:
Assessments
There are three different types of assessments.
1. Forum contribution
You’re required to contribute to activities assigned to you and post your responses in the online forum.
2. Video presentation
You’ll be provided, in advance, with a case study based on a client’s query to analyse and record your findings in a video presentation.
3. Timed assessment
You’ll receive a pre-released case study followed by a series of questions. On a set date and time, you’ll have four hours to complete the assessment.
You will follow the structured timetable for the session that you register for. All assessments are included in your registration fee. Resit prices are listed in the fees section.
Fees
To register for the next study session, please complete our online registration form. Registration is open all year round.
You can also call our Customer Services team on +44 (0)1227 818 609 or talk to them on live chat.
Corporate bookings
If you are a company and want to register a cohort of students onto FPIR please email corporate@libf.ac.uk for further information.
Progression
The Level 6 Financial Planning in Retirement (FPIR) unit is also available as an optional unit in the Level 6 Diploma in Financial Advice (Adv DipFA) .
Once you've completed Adv DipFA, you will be eligible to apply for chartered status.
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Questions about our professional qualifications?
If you have any questions about our professional qualifications in finance and banking, please contact our customer services team.
Our professional qualification customer services office is open:
Monday to Friday from 8.00am to 6.00pm UK time.
