About the faculties

What are the PFS Faculties?

PFS Faculties exist to provide the higher qualified amongst the PFS membership access to additional technical support to help members in the challenge of keeping up with the pace of change.

There are three faculty specialisms – “Personal Financial Planning”, “Corporate Financial Planning” and “Retirement and Care”.

Upon achieving the Diploma qualification – DipPFS - members are automatically enrolled, at no extra charge, to the PFS Faculties in all three streams and may then enjoy the added value benefits of belonging to the PFS at a higher level.

The objectives of the Faculties

The objectives of the PFS Faculties are fourfold:

• To deliver advanced level educational events to Faculty members
• To provide occasional articles to allow members to read up on subjects which are of topical technical relevance
• To offer up to the minute “best practice tips” for members to keep them abreast of key developments as they happen
• To establish a forum through which members qualified at an advanced level may talk with one another!

Each faculty area is supported by a number of Partners with which the PFS is working in the delivery of its education to members. These organisations have generously provided support to facilitate the production of events, articles and tips. Thank you to them.

As ever, the essential aim of the PFS is to promote professionalism and raise standards of practice amongst financial advisers. PFS Faculties will assist in achieving this objective by actively encouraging advisers to become more highly qualified and be constantly aware of technical developments so crucial to their work – and to the interests of their clients.

Areas of particular interest to the faculties

Whilst all Faculty specialisms will take a holistic approach to financial planning some key areas have been identified. This will largely assist the PFS in delivering specialism specific information through particular streams and allow you to determine what to review and what not to review.

In the "Retirement & Care" area attention will be focused on subjects such as annuities, asset allocation and risk management, equity release, income in retirement, investment planning and wealth preservation, long term care, SIPPs and income drawdown, taxation and trust planning (embracing income tax, CGT and IHT issues).

For the Personal Financial Planning area the subjects are likely to cover: Wraps/Platforms; Fund Providers (Investment houses); ISA, U/T’s, OIECS, REITs, Investment Trusts; Pensions – Transfers as well as new sales, SIPPs, etc; Will and Trusts, Estate planning (including WOL); National Savings; Protection; Stakeholder suite of products; VCTs and EISs

The Corporate Financial Planning area will include: GPPs; Final salary/Money Purchase Pensions; Group Life; Group PHI; Healthcare; Keyman insurance; SIPPs; Corporate Investment Funds.