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Quilter adviser school launches level 6 retirement planning unit

The Quelter School of Financial Advisors (QFAS) has launched Level 6 Financial Planning in its Retirement Qualification Module, offered by the London Institute of Banking and Finance (LIBF).

The unit will be added to its offerings from February 2022, and applications for entry into the first cohort are now open.

LIBF Financial Planning in Retirement Qualification will be available as a fifth module of the current QFAS Level 6 offer, and as a qualification in its own right with a separate designation for those who have successfully completed the module.

Quilter said it has worked closely with LIBF to develop the qualifications, which provides an assessment process designed to equip students with the skills required in financial counseling as a profession.

Students will be evaluated in three ways including graded forum contributions, video presentation, and timed evaluation.

Quilter said this could make this unit more convenient for students who prefer to be assessed outside an exam hall.

Julian Haines, Principal of Quilter Financial Adviser School, said: “We are proud to work closely with LIBF to develop this module, which complements and expands our existing Level 6 and ensures that those undertaking the module are equipped with the knowledge and tools they need to provide effective advice on retirement planning.

FPIR also demonstrates an evolution in the way these qualifications are assessed. Unlike currently available tests, timed and proctored tests are not a requirement of this unit. Instead, the qualification includes a unique assessment process developed in response to the needs of financial advice as a profession, as well as feedback from previous students.”

The first group to undertake this unit will embark on a five-month structured study plan provided by QFAS and will include support such as online study materials, weekly knowledge assessments, virtual catch-up and workshops, as well as access to a Level 6 teacher.

The FPIR curriculum will focus on retirement planning and aim to develop knowledge not only about pension options, but also effective planning in later life and the inheritance tax (IHT).

A total of 140 students have so far studied with QFAS towards a Level 6 unit, 51 of whom have attained chartered status through the school.

John Somerville, head of financial services and professional education at LIBF, said: “Lateral planning has become increasingly complex and older clients now require a more sophisticated level of advice. We live longer, which is good news, but income in retirement is becoming more and more uncertain.

Somerville added, “This new qualification acknowledges this, and uses case studies and ‘real-world’ evidence to truly bring these topics to life. Consultants can also study this as part of an Advanced Diploma, if they want to take their career to the next level.”

sonia.rach@ft.com

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