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Personal Finance Society
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J02 Trusts

At the end of this unit, candidates should be able to demonstrate an understanding of the:

  • legal principles associated with the creation and management of a trust;
  • main types of trusts that are common in the UK;
  • taxation considerations relevant to trusts.

J03 The tax and legal aspects of business

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the main legal forms of business and how they are set up and managed;
  • the consequences of bankruptcy or insolvency;
  • business accounts and financial controls;
  • the taxation of each type of business entity, its owners and employees;
  • the main legal responsibilities businesses have to employees, suppliers and customers;
  • the use of insurance and associated trust and legal arrangements in business protection;
  • the main uses of pensions for business planning.

J05 Pensions income options

At the end of this unit, candidates should be able to demonstrate an understanding of the:

  • process of decumulating pension funds and the main issues for clients and advisers;
  • main choices facing members of pensions schemes during decumulation;
  • features, risks and tax treatment of the secured pension option;
  • features, risks and tax treatment of phased retirement;
  • features, risks and tax treatment of the alternatively secured pension option.

J07 Supervision in a regulated environment

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the supervisor's role in a regulated organisation;
  • the principles and practices of recruitment and training;
  • attaining, maintaining and supervising competence;
  • management information and performance standards;
  • Financial Services regulation and guidance;
  • the legal and regulatory aspects of employment and supervision.

 

J09 Paraplanning

At the end of this unit, candidates should be able to demonstrate an understanding of:

  • the customer's personal circumstances;
  • the financial position of the client;
  • providing potential solutions;
  • the regulatory, legal and ethical frameworks of paraplanning.

 

J10 Discretionary investment management

At the end of this unit, candidates will be able to advise clients on a range of discretionary investment management issues, including:

  • establish and meeting client objectives;
  • the behaviour, performance, risk profile and correlation of key investment types;
  • the role of the investment manager;
  • discretionary and non-discretionary portfolio management;
  • investment fund objectives and approaches;
  • the fundamentals of economics applicable to investment management;
  • how investment returns are related to investment risk;
  • the principles of portfolio theory;
  • performance measurement;
  • data regression;
  • indices;
  • the principles of performance measurement;
  • financial analysis;
  • ratio analysis;
  • information sources and disclosure obligations and bias thereof;
  • the principles of performance management and portfolio theory;
  • analysis and interpretation of financial information and ratios.

J11 Wrap and platform services

At the end of this unit, candidates will be able to demonstrate an understanding of:

  • the use of platforms in providing financial services;
  • the legal issues specific to using platform services;
  • the specific regulatory issues impacting upon platform services;
  • the suitability of platforms in meeting client requirements;
  • the corporate wrap proposition.

J12 Securities advice and dealing

At the end of this unit, candidates shouble be able to demonstrate an understanding of:

  • the features and risks of different securities;
  • the structure and features of the securities market;
  • relevant factors and considerations for appropriate investment recommendations.

R01 Financial services, regulation and ethics

At the end of this unit candidates will be able to demonstrate their knowledge, understanding and skill in applying the following topic areas:

  • UK financial service industry in its European and Global context;
  • how the retail customer is served by the financial service industry;
  • Regulatory framework, powers and responsibilities to protect the consumer;
  • the legal concepts and considerations relevant to financial advice;
  • the Code of Ethics and its impact on the business behaviours of individuals.

 

R02 Investment principles and risk

At the end of this unit candidates will be able to demonstrate their knowledge, understanding and skill in applying the following topic areas:

  • the characteristics, inherent risks, behaviour and correlation of asset classes, and investment products;
  • the macro-economic environment and its impact on asset classes;
  • the merits and limitations of the main investment theories;
  • the nature and impact of the main types of risk on investment performance;
  • the performance of investments.

R03 Personal taxation

At the end of this unit candidates will be able to demonstrate their knowledge, understanding and skill in applying the following topic areas:

  • the basic structure of the UK tax system;
  • the main taxes on income and capital that may be charged on individuals and trusts, the self assessment system and how tax liabilities are computed;
  • the taxation of investments as relevant to the needs and circumstances of individuals and trusts.

R04 Pensions and retirement planning

At the end of this unit candidates will be able to demonstrate their knowledge, understanding and skill in applying the following topic areas:

  • the main tax and legal frameworks applicable to pension schemes;
  • the features of defined contributions and defined benefit pension schemes;
  • state retirement benefits including risks and suitability of contracting out;
  • the aims and objectives of retirement planning including relevant investment issues.

R05 Financial protection

At the end of this unit, candidates should be able to understand the:

  • purpose and scope of financial protection products and how they interact with State benefits;
  • main features and functions of the different types of contracts and how they are arranged in order to meet the individual client's protection needs;
  • main protection needs of businesses

 

R06 Financial planning practice

This unit enables candidates to demonstrate their expertise in the application of the financial planning process through combining and applying learning content from all the other units in the CII QCF level 4 Diploma in Regulated Financial Planning:

  • Financial services, regulation and ethics;
  • Investment principles and risk;
  • Personal taxation;
  • Pensions and retirement planning;
  • Financial protection.

R07 Advanced mortgage advice

At the end of this unit, candidates should be able to:

  • explain the key elements of the mortgage process;
  • explain the specialist types of mortgage lending;
  • explain the main challenges in the mortgage industry; and
  • recommend the appropriate mortgage advice to clients with complex needs and circumstances.

R08 Pensions update

At the end of this unit, candidates should understand the:

  • changes introduced by the Taxation of Pensions Act 2014;
  • changes to the State pension provision from 06 April 2016;
  • key factors to take into account when advising clients on their retirement income.