The Chartered Insurance Institute in the United Kingdom offers the Financial Planning Certificate (FPC) as a qualification. The organization’s coursework and testing requirements were met by those who earned this credential. It allowed people to work as financial advisers at first, but regulatory changes have changed the rules, requiring a higher level diploma to work as a financial adviser. People who had an FPC qualification at the time of the change were able to continue working, but new entrants required the more advanced diploma.
People can earn an FPC as part of a training program in order to prepare for a more advanced certificate. The fundamental coursework is the same, and it gives students a foundation in topics such as financial services and retirement planning. It is also possible to obtain an FPC certification in order to work in the financial industry in a more general capacity, without directly advising clients. Financial services professionals can benefit from understanding this topic as they develop products and services, work with customers, and create policies at financial institutions.
Interested candidates must complete a set number of hours of training in financial protection, investment and risk management, regulations, retirement planning, and integrated financial planning in order to receive a certificate. Students are eligible to take an examination to test competency after completing training in each segment. Those who pass tests in all of these areas of training will receive the FPC qualification and a certificate. They have the option of continuing their education or stopping there.
For regulatory reasons or because of internal company policy, some jobs in the financial industry require certifications like the FPC qualification. Checking the entry requirements for financial careers is important so that students can choose the right certification to pursue. Other jobs may not require specific qualifications, but employers may look more favorably on applicants who do. Someone with an FPC qualification or plans to obtain an advanced diploma may have more job opportunities.
Following graduation, it is usually recommended that you continue your education. This can assist financial professionals in staying current with industry regulations and trends, allowing them to better serve clients effectively and appropriately. Trade publications, conferences, and workshops can help you stay up to date on financial industry developments and how to adapt to new policies and regulations. Employers may be willing to cover the costs of professional development because it benefits the entire workforce, not just the employee who receives the training.