Category Archives: CeMAP and DiPFA Training

IFS DipFA Coursework (Due 31/10/14)

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IFS DipFA Coursework (Due 31/10/14)

Some pointers…

The IFS Coursework consists mainly of a 4,000 word essay.
The essay is marked according to
QCF level 4 relevant academic standards (equivalent to the first year of a degree course).  As part of this, a bibliography meeting the required academic format is mandatory.  There are also three additional short questions on other topics.

The Coursework due for the end of October focuses on the use of discretionary fund management, covering the types of investment available, the tax treatment of such investments, how such investments can be beneficial or inadvisable for clients, specific compliance issues, and the potential for such investment by High Net Worth clients.

As investment into discretionary services appears to be becoming more popular, this is an important area, and thus the IFS have provided students with a relevant topic for this submission.

In preparation for one of our courses, the IFS Study Folders contain an excellent starting point for research on why and how the UK taxation regime operates, and the effects on higher earners.  By combining this information with relevant product and investment theory knowledge that shows the reader the pros and cons of such investments, students will make a start to providing a well researched essay.  Further reading and research is also required as part of this assignment.

It is essential for students to understand the referencing and bibliography requirements, and focus on a solid and thought-out structure.

Further support can be found by booking attendance at one of Futuretrend’s DipFA courses, either via the remote support option  or one-to-one tuition.

Paul Davis, BA (Hons), Cert Mgmt, Dip. PFS, Futuretrend Tutor.

IFS DipFA Fact Find exam date 03/07/14

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Some pointers…

The Exam due for the July sitting provides a fairly complex financial planning scenario, based on the needs of a fictional Mr and Mrs Osbourne

Many of the issues present in the exam are very similar to “real life” scenarios so the IFS have provided a suitable exam challenge for students looking to qualify as financial advisers.

However, as in all fact find exams, regardless of how “life like” or not the exam is, the scenario is actually there to test your knowledge, and crucially, the application of that knowledge, to the client’s circumstances, needs and objectives.

This blog summarises some of the key issues students will need to consider for this exam, and some pointers that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the exam but should get you started.

As always, a solid understanding of taxation is required.  Anyone not fully clued up on the tax treatment of income and investments should immediately head to the IFS Study Folders (issued by the IFS when they started the DipFA course), and look up the Taxation folder.  This is particularly crucial as Mrs Osborne is a higher rate taxpayer and both clients have assets.

Additionally some specific areas to consider are;

Retirement planning including ‘final salary pension’ schemes

Needs based Protection planning including reviewing existing policies

Share Incentive Plans

This is most definitely not a comprehensive list, and of course don’t forget, anything in the syllabus can be considered relevant for the exam.  The amendments on the day can cover any issue covered in the Study Folders, or related to these areas.  Students would be well advised to at least review the sections of the Study Folders for areas of advice they are not familiar with prior to the exam itself.  According to recent Examiner’s reports, many students are missing out on marks as a result of not sufficiently addressing the amendments on the day.  If there are gaps in your knowledge compared to the syllabus, you run the risk of being caught out!

Further support can be found by booking attendance at one of Futuretrend’s DipFA courses.

Paul Davis, BA (Hons); Cert Mgmt (Open); Dip. PFS .

IFS DipFA Coursework (Due 01/08/14)

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IFS DipFA Coursework (Due 01/08/14)

Some pointers…

The IFS Coursework consists mainly of a 4,000 word essay.  The essay is marked according to QCF level 4 relevant academic standards (equivalent to the first year of a degree course).  As part of this, a bibliography meeting the required academic format is mandatory.  There are also three additional short questions on other topics.

The Coursework due for the beginning of August focuses on the use of property investments, covering the types of investment available, the tax treatment of such investments, and the potential for such investment by High Net Worth clients.

As investment into Property is popular amongst investors in the UK, this is an important area, and thus the IFS have provided students with a relevant topic for this submission.

In preparation for one of our courses, the IFS Study Folders contain an excellent starting point for research on why and how the UK taxation regime operates, and the effects on higher earners.  By combining this information with relevant product and investment theory knowledge that shows the reader the pros and cons of such investments, students will make a start to providing a well researched essay.  Further reading and research is also required as part of this assignment.

It is essential for students to understand the referencing and bibliography requirements, and focus on a solid and thought-out structure.

Further support can be found by booking attendance at one of Futuretrend’s DipFA courses, either via the remote support option or one-to-one tuition.

Paul Davis, Dip. PFS, Futuretrend Tutor.

IFS DipFA Fact Find exam date 10/04/14

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IFS DipFA Fact Find exam date 10/04/14

Some pointers…

The Exam due for the April provides a relatively straight forward financial planning scenario, based as it is on a single fictional client, Alexander Eyre.

Many of the issues present in the exam are very similar to “real life” scenarios so the IFS have provided a suitable exam challenge for students looking to qualify as financial advisers.

However, as in all fact find exams, regardless of how “life like” or not the exam is, the scenario is actually there to test your knowledge, and crucially, the application of that knowledge, to the client’s circumstances, needs and objectives.

This blog summarises some of the key issues students will need to consider for this exam, and some pointers that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the exam but should get you started.

As always, a solid understanding of taxation is required.  Anyone not fully clued up on the tax treatment of income and investments should immediately head to the IFS Study Folders (issued by the IFS when they started the DipFA course), and look up the Taxation folder.  This is particularly crucial as Mr Eyre has both self employment and paid employment income, as well as various liquid assets already accumulated.

Additionally some specific areas to consider are;

Trust Rules and taxation plus Trust investment planning

Retirement planning

Needs based Protection planning

This is most definitely not a comprehensive list, and of course don’t forget, anything in the syllabus can be considered relevant for the exam.  The amendments on the day can cover any issue covered in the Study Folders, or related to these areas.  Students would be well advised to at least review the sections of the Study Folders for areas of advice they are not familiar with prior to the exam itself.  According to recent Examiner’s reports, many students are missing out on marks as a result of not sufficiently addressing the amendments on the day.  If there are gaps in your knowledge compared to the syllabus, you run the risk of being caught out!

Further support can be found by booking attendance at one of Futuretrend’s DipFA courses.

Paul Davis, Dip. PFS, Futuretrend Tutor.

IFS DipFA Coursework (Due 02/05/14)

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Some pointers…

The IFS Level 4 Diploma for Financial Advisers (DipFA®) Coursework due for the beginning of May focuses on the opportunities for tax efficient financial advice available for higher earners.

This is an important area for any existing or aspiring Investment Adviser, and thus the IFS have provided students with a highly relevant topic for this submission.

In preparation for one of our courses, the IFS Study Folders contain an excellent starting point for research on why and how the UK taxation regime operates, and the effects on higher earners.  By combining this knowledge with relevant product knowledge that shows the reader how to legitimately mitigate and reduce tax liabilities, students will go a long way to providing a well researched essay.

It is essential for students to understand the referencing and bibliography requirements, and focus on a good, solid structure.

Further support can be found by booking attendance at one of Futuretrend’sDipFA courses, via the remote support option.

Paul Davis, Dip. PFS, Futuretrend Tutor.

Some pointers for IFS DipFA Factfind Exam 10/10/13

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by Paul Davis

IFS DipFA Exam (date 10/10/13)

Some pointers…

The Fact Find presents us with a fictional scenario for a Mr and Mrs Clark.  In my opinion the scenario and advice requirements in this exam are actually fairly close to many “real life” cases that many Advisers may have seen during their career.  Additionally, the Fact Find presents a number of challenges for students, mainly around the retirement objective and the interest only mortgage, amongst others.

However, regardless of how life-like or not Students may feel the scenario is; it is of course actually there to test your knowledge, and crucially, the application of that knowledge to the client’s circumstances and the suitability of your advice.

This blog summarises some of the key issues students will need to consider for this exam, and some pointers that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the exam but should get you started.

As always, a solid understanding of taxation is required.  Anyone not fully clued up on the tax treatment of income and investments should immediately head to the IFS Study Folders (issued by the IFS when they started the DipFA course), and look up the Taxation folder.  This is particularly crucial as Mr Clark is a high earner.

Additionally, in preparation for one of our courses, some of the required subject specific areas to consider for further study are;

  • Mortgage Advice around re-mortgaging and the suitability of interest only mortgages
  • Inheritance Tax Mitigation
  • Retirement Planning
  • Protection Advice
  • Investment and Portfolio Planning

This is most definitely not a comprehensive list, and of course don’t forget, anything in the syllabus can be considered relevant for the exam.  The amendments on the day can cover any issue covered in the Study Folders, or related to these areas.  Students would be well advised to at least review the sections of the Study Folders for areas of advice they are not familiar with prior to the exam itself.  According to recent Examiner’s reports, many students are missing out on marks as a result of not sufficiently addressing the amendments on the day.  If there are gaps in your knowledge compared to the syllabus, you run the risk of being caught out!

Further support can be found by booking attendance at one of Futuretrend’s Dipfa courses, or  requesting info about the remote support option.

Good Luck.

Paul Davis, Dip. PFS, Futuretrend Tutor.

IFS DipFA Exam (date 16/0513)

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IFS DipFA Exam (date 16/0513)

Some pointers…

The Fact Find presents us with a scenario for a Mr & Mrs Atkinson.  The scenario presented provides a number of challenges for students across a diverse range of advice areas.  Students must remember that the scenario presented is there to test your knowledge, and crucially, the application of that knowledge to the client’s circumstances and the suitability of your advice.

This blog summarises some of the key issues students will need to consider for this exam, and some pointers about specific parts of the IFS DipFA Study Folders that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the exam but should get you started.

Anyone not fully clued up on taxation basics should immediately head to the IFS Study Folders (issued by the IFS when they started the DipFA course), and look up Topic 2 and Topic 3 in the Taxation folder.

Additionally, in preparation for one of our courses, some specific areas to consider for further study are;

  • Defined Benefit (final salary) schemes, in Retirement Topic 5.3.2
  • Tax efficient saving and investing, in Investments Topic 12
  • Protection Planning, in Protection Topic 9
  • Clients attitude to Risk, in Investments Topic 14.2.1
  • Retirement Planning Topic 7

This is most definitely not a comprehensive list, and of course don’t forget, anything in the syllabus can be considered relevant for the exam.

You will be presented with amendments to the Fact Find on the day.  The amendments on the day can cover any issue covered in the Study Folders, or related to these areas.  Students would be well advised to at least review the sections of the Study Folders for areas of advice they are not familiar with prior to the exam itself.

Further support can be found by booking attendance at one of Futuretrend’s DipFA Fact find courses, or on the remote support option.

Paul Davis, Dip. PFS, Futuretrend Tutor.

 

Some pointers for IFS DipFA Exam (07/03/13)

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IFS DipFA Exam (date 07/03/13)

Some pointers…

The Fact Find presents us with a scenario for a Mr and Mrs Franey.  In my opinion the scenario in this exam is not a million miles removed from any number of real life cases that many Advisers may have seen during their career.

However, regardless of how life-like or not Students may feel the scenario is; it is of course actually there to test your knowledge, and crucially, the application of that knowledge to the client’s circumstances and the suitability of your advice.

This blog summarises some of the key issues students will need to consider for this exam, and some pointers about specific parts of the IFS DipFA Study Folders that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the exam but should get you started.

In this scenario, the clients have exposure to income tax and national insurance as both an employee and as a sole trader.  A solid understanding of the rules relating to Income Tax and National Insurance (N.I.) is essential.  Anyone not fully clued up on these basics for both employed and self employed clients should immediately head to the IFS Study Folders (issued by the IFS when they started the DipFA course), and look up Topic 2 and Topic 3 in the Taxation folder.  Also be aware of N.I. Contributions once over State Retirement Age.

Additionally, in preparation for one of our courses, some of the required subject specific areas to consider for further study are;

  • Defined Benefit (Final Salary) pensions.  See Retirement Topic 5.3.2
  • Needs Based Protection Planning.  See Protection Topic 9
  • Investment Advice.  See Investments Topic 14

This is most definitely not a comprehensive list, and of course don’t forget, anything in the syllabus can be considered relevant for the exam.  The amendments on the day can cover any issue covered in the Study Folders, or related to these areas.  Students would be well advised to at least review the sections of the Study Folders for areas of advice they are not familiar with prior to the exam itself.  According to recent Examiner’s reports, many students are missing out on marks as a result of not sufficiently addressing the amendments on the day.  If there are gaps in your knowledge compared to the syllabus, you run the risk of being caught out!

Further support can be found by booking attendance at one of Futuretrend’s DipFA Exam Workshops, or on the remote support option.

Good Luck!

Paul Davis, Dip. PFS, Futuretrend Tutor.

IFS DipFA Coursework (Due 01/03/13)

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IFS DipFA Coursework (Due 01/03/13)

Some pointers…

The Coursework due for the beginning of March has taken a topical regulatory issue from the last couple of years, that is, the assessment of risk that involved in saving and investing, and the assessment of the level of risk a client is able or chooses to take.

As such, there is actually a wide range of material out there for enterprising students to discover and read.  This is an important area for any existing or aspiring Investment Adviser, and thus the IFS have provided students with a highly relevant topic for this submission.

This blog summarises some of the key background research students will need to consider for this Coursework, and some pointers about specific parts of the IFS DipFA Study Folders that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the Coursework but should get you started.

In preparation for one of our courses, some specific areas to consider for further study are;

  • Investments Topic 7 on Risk
  • Investment Topic 13 on Assessing Performance
  • Investments Topic 14 on Advice

 

Additionally, the FSA have issued guidance on this subject in the last couple of years and students would do well to be aware of the Regulators thinking in this area.

 

This is most definitely not a comprehensive list, and of course don’t forget, the Coursework submitted must be a comprehensive and concise piece of work that fully covers this area.  There are also the three additional questions to cover.

Further support can be found by booking attendance at one of Futuretrend’s DipFA courses, or on the remote support option.

Paul Davis, Dip. PFS, Futuretrend Tutor.

Some pointers for IFS DipFA Exam (14/02/13)

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IFS DipFA Exam (date 14/02/13)

Some pointers…

The Fact Find presents us with a scenario for a Mr Teague.  As usual, the IFS Exam Fact Find details a client scenario that stretches the imagination…the client is 28 years old with a child to provide for and yet has somehow managed to accumulate some £129,000 in liquid assets in his own name!

However, the scenario is of course not necessarily meant to be representative of real life, it is actually there to test your knowledge, and crucially, the application of that knowledge to the client’s circumstances and the suitability of your advice.  So, as usual, let’s not get hung up over how realistic or not the scenario is.

This blog summarises some of the key issues students will need to consider for this exam, and some pointers about specific parts of the IFS DipFA Study Folders that students may find useful to review and refresh themselves of in addition to other study – this blog is not a comprehensive guide to the exam but should get you started.

  • In this scenario, the client has exposure to income tax and national insurance as both an employee and as a self employed freelancer.  A solid understanding of the rules relating to Income Tax and National Insurance is essential

Anyone not fully clued up on these basics for both employed and self employed clients should immediately head to the IFS Study Folders (issued by the IFS when they started the DipFA course), and look up Topic 2 and Topic 3 in the Taxation folder.

Additionally, in preparation for one of our courses, some specific areas to consider for further study are;

  • Investments including Investment (Stocks & Shares) ISA accounts see Investment Topics 12.1 for ISAs; and 10.2 for Unit Trusts as well as 11.2 for With Profits Investments
  • Student Loan repayments and liabilities
  • Enterprise Investment Schemes see Investments 12.5
  • Warrants see Investment Topic 5.1

This is most definitely not a comprehensive list, and of course don’t forget, anything in the syllabus can be considered relevant for the exam.  The amendments on the day can cover any issue covered in the Study Folders, or related to these areas.  Students would be well advised to at least review the sections of the Study Folders for areas of advice they are not familiar with prior to the exam itself.

Further support can be found by booking attendance at one of Futuretrend’s DipFA Factfind Course, or on the remote support option.

Paul Davis, Dip. PFS, Futuretrend Tutor.