University College Dublin
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I know, let’s sign upI have an account, let me sign in firstThe Professional Diploma in Financial Advice is a six-module level 7 qualification and is a must for all those pursuing a career in retail and business banking. It is the industry recognised, premier designation qualification, for financial advisers in retail financial services in the Republic of Ireland. If you are a financial adviser, or wish to become one in the future, then the Professional Diploma in Financial Advice will enhance the breadth and depth of your knowledge to provide consumers with sound professional advice.
University College Dublin
For people who are interested in...
Becoming a fully qualified QFA
Advising on Pensions, Consumer Credit, Life Assurance, and/or Stockbroking
Retail Banking, Credit Unions, FinTech Payments, or as a broker
Recommended reading: Top questions on becoming a Qualified Financial Adviser (QFA)
On successful completion of this programme and on attaining the industry valued professional QFA designation and the European Financial Advisor™ designation (only with IOB), you will be able to:
Provide competent advice to consumers regarding the various loan offerings available, the process involved and the implications of these offerings to consumers
Discuss the need for, and types of, retirement provision available and the regulation and restrictions on such provision
Describe relevant regulation that is used in the provision of financial services and the impact it has in this environment
Explain the types of investment needs of consumers and the important issues arising as a result of these needs
Provide competent advice to a consumer regarding their life assurance needs and the implications of decisions they may make
Use analytical skills to make recommendations to clients regarding financial planning.
Holders of the Professional Diploma in Financial Advice are invited to apply for the Qualified Financial Adviser (QFA) designation thereby meeting the Central Bank of Ireland’s Minimum Competency Code for those who wish to arrange, advise on, or undertake specified functions for the following five categories of retail financial products:
Life Assurance
Pensions
Savings and Investments
Housing Loans, Home Reversion Agreements and Associated Insurances
Consumer Credit Agreements and Associated Insurances.
Continued use of the QFA designation is subject to meeting annual CPD requirements. The QFA designation is overseen by the QFA Board, which includes representatives from IOB, the Insurance Institute and LIA.
IOB is very proud to be the only body in Ireland to offer the EFA designation alongside the QFA designation as a result of our agreement with the European Financial Planning Association.
If you hold an IOB designation or a designation managed by IOB, CPD hours may be awarded on successful completion of this programme.
Delivery is online
€350 per module, plus an annual study fee of €80
Professional Diploma in Financial Advice from UCD
This is a level 7 qualification on the National Framework of Qualifications and carries 30 ECTS
Invite to the Qualified Financial Adviser designation
Two-hour online exam for each module at the end of the trimester
For the modules Regulation, Life Assurance, Loans, Investment and Pensions, the exam consists of 100 multiple choice questions. For the Financial Planning module, the exam consists of a written case study and essay-style questions.
IOB programmes are largely delivered and assessed online. Students should ensure they have appropriate equipment (laptop), and that appropriate software (including MSOffice: Office and Word) is available to them to participate in the programme and related assessments (continuous assessments and exams).
Once members have successfully completed the six Financial Advice modules, they will receive an invitation for the Qualified Financial Adviser Designation.
QFA designates with IOB will now get the European Financial Advisor™ designation. For further information click here
Autumn Trimester 2024 - (Assessment in January 2025)
8th November 2024
This programme enrols three times a year. To see other enrolment dates in the 2024-25 academic year, please click on Key Dates
For more information please contact [email protected]
To enrol for Financial Planning, candidates must be enrolled for, passed or be exempt from the first five modules: Regulation, Life Assurance, Loans, Investment and Pensions.
(NFQ Level 7, 5 ECTS)
Identify the different forms of Regulation relating to financial service providers.
Identify the main regulatory bodies in Ireland and their functions.
Discuss the range of regulatory rules that apply to intermediaries and/or product providers in their dealings with clients.
Describe the impact of legislation relating to consumer protection, money laundering, distance marketing, data protection & privacy, Investor compensation, unfair terms in consumer contracts and tax evasion.
Explain the functions and powers of the Financial Services Ombudsman and the Pension Ombudsman.
Specific areas covered:
Why financial service providers are regulated
Authorisation
Minimum Competency Code
Consumer Protection Code
MiFID
Data protection
Anti-money laundering.
(NFQ Level 7, 5 ECTS)
Discuss the operation of the financial services markets and the impact of government economic and monetary policy on Investments.
Describe the features, benefits, limitations and risks associated with the different classes of investment assets available within the industry.
Identify and discuss the basic investment principles.
Demonstrate the knowledge and understanding of investments required to effectively advise clients.
Specific areas covered:
Markets
Asset classes
Shares
Bonds
Deposits
Collective investment schemes
Unit-linked savings
Regulation.
(NFQ Level 7, 5 ECTS)
Describe the main life assurance needs of the consumer at all life stages.
Explain the main features, benefits, limitations, and risks of different types of life protection policies.
Detail the issues involved in starting a policy and in paying out benefits.
Identify the constituents in a valid will and know the impact of the Succession Act.
Discuss financial mathematics principles that underpin personal life assurance and pension products and perform related calculations.
Specific areas covered:
Why protection is needed
Term assurances
Income protection
Serious illness
Business insurances
Estate planning
Unit-linked savings and bonds
Quantifying protection needs
Regulation.
(NFQ Level 7, 5 ECTS)
Describe the personal financial need for a loan, and the different ways in which such a need can be met by different types of loans and consumer credit on offer.
Explain the features, benefits, limitations, security requirements and taxation treatment of consumer loans and credit arrangements, and their associated insurances.
Discuss and demonstrate the impact of regulation on the provision of housing loans and different forms of consumer credit.
Detail the steps and documentation involved in obtaining a housing loan and evaluate and recommend an appropriate housing loan option from those on offer.
Identify the issues and processes involved in debt restructuring and equity release and describe the process and protocols to be adopted for the recovery of loan arrears.
Specific areas covered:
Types of housing loans
Central bank requirements
Regulation
Loan application
Housing loan insurances
Arrears
Consumer credit.
(NFQ Level 7, 5 ECTS)
Explain the need for retirement provision.
Describe the taxation, legislation and regulatory framework for pensions.
Identify the features, benefits and risks of pension product options available to clients.
Display the skills and competencies required to effectively advise clients in all areas of Pensions.
Specific areas covered:
State pensions
Personal pension plans
Employer pension schemes
AVCs
ARFs
Annuities
Quantifying pension needs
Investment
Regulatory bodies.
(NFQ Level 7, 5 ECTS)
Analyse and appraise a clients’ financial needs and attitude to risk.
Critically evaluate different financial products offerings and assess their relevance in structuring a financial portfolio that fulfils your clients’ needs.
Make an investment recommendation for a client on the basis of having assessed their needs, attitude to risk and match these against product offerings.
Prepare a detailed client financial review with regard to their life stage, personal circumstances, needs and attitude to risk.
Specific areas covered:
Providing advice to consumers
Consumer reviews
Suitability statements
Recap on retail financial products
Taxation issues.
Once members have successfully completed the six Financial Advice modules, they will receive an invitation for the Qualified Financial Adviser Designation.
IOB has formalised an agreement with the European Financial Planning Association (EFPA) to allow Qualified Financial Advisors (QFAs) who are active IOB members to avail of the European Financial Advisor™ (EFA) designation in addition to their QFA designation.
The EFPA is the largest licensing, standard setting and certification body for financial planners and advisers in Europe.
All current QFA designates with IOB will be granted the European Financial Advisor™ (EFA) designation on January 1st, 2022 at no additional cost and with no requirement to undertake any additional exams or CPD.
The additional cost of the certification is covered by IOB on behalf of their members.
For further information click here
Central Bank of Ireland’s Minimum Competency Code requires the QFA designation for those who wish to arrange, advise on, or undertake specified functions for the following five categories of retail financial products:
Life Assurance
Pensions
Savings and Investments
Housing Loans, Home Reversion Agreements and Associated Insurances
Consumer Credit Agreements and Associated Insurances.
Continued use of the QFA designation is subject to meeting annual CPD requirements. The QFA designation is overseen by the QFA Board, which includes representatives from IOB, the Insurance Institute and LIA.
This programme enrols three times a year.
Autumn trimester - (Assessment in January 2025)
8th November 2024
The minimum second level educational requirements for entry to the Professional Diploma in Financial Advice are as follows:
Five passes in the Leaving Certificate, including English and Mathematics
Five O Level/GCSE passes, including English Language and Mathematics
IOB will also consider applications on a mature candidate basis from applicants who are 23 years of age before the date of their application for admission to the programme. To enrol for Financial Planning, candidates must have enrolled for, passed or be exempt from the first five modules: Regulation, Life Assurance, Loans, Investment and Pensions.
You must be a current member of IOB, or become a member, to undertake this programme.
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