Financial Planning Process (AF5)

A case study workbook is not offered for this unit as it draws together and tests your knowledge gained through study of the other AF units. You will, however, receive a 'fact-find' two weeks before the exam which you will use to draw up a financial plan in the exam. More information and the fact-find (when released) can be found on our supporting exam documents page.

To help you with your study, we recommend you use the free practice tests available under the Useful Links & Downloads section on this page.

Please note: Candidates are recommended to have taken three units at advanced level before progressing to this unit. Advanced technical knowledge across taxation, trusts, pensions and investments is usually required. Depending upon the client scenario, some business planning knowledge might also be required.

Learning Outcomes

At the end of this unit, candidates will be able to research and construct a financial plan that demonstrates:

1. Understanding of the relationship and responsibilities throughout the advice process and the need to establish the scope of the planning brief along with an agreed remuneration strategy;
2. Understanding and evaluation of the client's personal circumstances and financial status;
3. Understanding and evaluation of the client's financial objectives, including the importance of prioritising those financial objectives;
4. Understanding of what is meant by risk (including capacity for loss), the various risks faced by the client and the importance of the client risk profile in formulating a financial plan;
5. Understanding of the assumptions underlying the financial plan;
6. Evaluation of the different options available to the client with relevant evidence;
7. The ability to formulate an appropriate financial plan based on analysis of client objectives, circumstances and options, taking into consideration the importance of achieving positive and suitable outcomes for the client;
8. The ability to explain the meaning of any technical terms, the features, benefits and any possible drawbacks of the proposed solutions and the potential consequences of the proposed course of action;
9. Understanding of the importance of documenting any changes to the plan required by the client and how to document such changes;
10. Understanding of the review process and its significance in the overall financial planning process.

Assessment

• 3 hour exam
• Fact-Find based with 8 compulsory questions
• The standard pass mark is 55% (for more information on standard pass marks please see here)
• The 2025 pass rate for this unit was 75.71%

Units treated as equivalent

Due to the extent of syllabus overlap, certain combinations of current and withdrawn units will result in only one award of CII credits.

If a withdrawn equivalent is held you may not need to complete a current unit in order to satisfy a qualification's completion rules. Clarification should always be sought from CII Customer Service.

Find out more about CII credit awards for equivalent units