About the qualification
As your client’s move through their retirement journey, their needs and circumstances will change over time. The idea of what retirement looks like is continually changing. Getting your clients to understand the need for effective retirement planning is more important than ever.
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. Incomes from pension annuities are at an all-time low, and people are staying healthier for longer after retirement. This creates a need to plan and budget for long-term care.
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 The London Institute of Banking & Finance (MLIBF), receiving benefits including careers support and access to professional networking events.