Diploma for Financial Advisers (DipFA) | LIBF (2024)

DipFA is the minimum level qualification you need to become a financial adviser, as laid down by the Financial Conduct Authority (FCA).

Financial advisers provide regulated financial advice to help people make the most of their existing wealth. This can include planning for retirement, advising on investments, helping people to make tax efficient savings, and more.

The key responsibilities include:

• meeting with clients and discussing their financial goals

• answering client questions and educating them about investment options and potential risks

• researching and recommending investments for clients

• helping clients plan for the future, such as retirement

• monitoring client account performance or accommodating life changes, such as marriage.

Financial advisers can work in established companies or build their own businesses. This means that as well as being a rewarding career, working in financial advice can offer flexibility and limitless opportunity.

Whether you've just graduated from university, are moving up in an existing role or looking to start a whole new career, a career in financial advice has never been more fulfilling.

When studying DipFA you’ll learn all the skills you need to begin your career as a financial adviser. And, because we include case study-based learning, you’ll gain practical knowledge that you can immediately apply in the workplace.

During your studies, you’ll become a Member of LIBF (MLIBF). Membership offers benefits such as career support and access to professional networking events.

If you wish to study Financial Services, Regulation and Ethics (FSRE) on its own you can view the qualification page here.

Are you eligible for an exemption?

If you have qualifications from us or another awarding body, you may be eligible to apply for recognition of prior learning.

To allow you to tailor your studies to your lifestyle, you can select the coursework Fact Find submission date that best suits your needs. If your situation changes you can amend the start date of your coursework before the Fact Find is released without charge – keeping you in control.

Please note that the Fact Find is released four weeks prior to the submission date. Results are usually announced four weeks after the submission date.

As part of your fee, you’ll get:

• online access to our learning platform, Brightspace

• specimen coursework assignment

• unit syllabuses

• online tutor forum

• specimen exams and exemplars

• online access to our student portal, MyLIBF

• online access to our virtual library, KnowledgeBank.

We offer a variety of additional study support options for you to purchase when you first register with us, or later through your MyLIBF account by clicking on the “Purchase Additional Study Support” button.

You’ll get access to our team of experienced web tutors through an online tutor forum.

The tutors are all experts in their fields and have extensive experience in financial services, meaning they can explain the theory and show you how to put it into practice.

You’ll be able to engage in discussion with your tutors and fellow students, as well as ask questions to help you prepare for each assessment.

Module one

You’ll take a two-hour multiple-choice exam that is split into two units. Each unit will include:

• 25 multiple-choice questions.

• Three case studies with five linked multiple-choice questions.

Both units are worth a total of 80 marks.

Modules two to five

You’ll take a 90-minute multiple-choice exam, for each module, that is split into two units. Each unit will include:

• 20 multiple-choice questions.

• Two case studies with five multiple-choice questions related to each case study.

Each unit is worth 30 marks.

Module six

• Coursework consisting of pre-released fact find, with an essay response worth 240 marks.

Resit attempts

There are no restrictions on the number of times you can resit a module if you are unsuccessful. For the multiple-choice units (modules one – five) you will only need to resit the unit(s) you have failed.

You can register to study DipFA throughout the year.

Corporate bookings

If you are a company and want to register a cohort of students onto DipFA please email corporate@libf.ac.uk for further information.

There are a number of organisations offering courses for LIBF qualifications, especially in financial and mortgage advice. To help students make an informed choice, in addition to the DipFA Academy and online Digital Academy we also accredit a select number of reputable training organisations. These organisations have joined our ALSP scheme. To keep this status their provision is subjected to regular quality checks by LIBF.

Using an ALSP is entirely up to you – it is NOT a requirement of your studies – but this extra support might be beneficial to your learning. You’ll need to pay for such provision directly to your chosen ALSP.

Please note that you will still need to register and complete DipFA with us as the qualification awarding body.