7. Investments
It is important that you are aware of where the regulated boundaries are and do not go beyond them (please refer to ‘The boundaries of the service and of your role’ and the description of advice). Guidance should provide information and/or options on the customers’ choice of investment option (e.g. trader funds, shares etc.), without making an explicit recommendation.
Tier 1
| 7.1.1 | Awareness of what an investment is |
| 7.1.2 | Awareness of the concept or risk versus reward and how this applies to investments |
| 7.1.3 | Awareness of scams and what to do if a customer has been the subject of a scam |
Tier 2
| 7.2.1 | Knowledge of different types of investment products |
| 7.2.2 | Awareness of investment principles |
| 7.2.3 | Awareness of trader funds |
| 7.2.4 | Awareness of what ‘shares’ are |
| 7.2.5 | Awareness of the rules of the use of Individual Savings Accounts (ISAs) |
| 7.2.6 | Awareness of the practice of ‘wrapping investments’ |
Tier 3
| 7.3.1 | Knowledge of regulated and unregulated products |
| 7.3.2 | Knowledge of asset classes and diversification |
| 7.3.3 | Knowledge of how shares and investments work |
| 7.3.4 | Knowledge of different funds and how they are valued |
| 7.3.5 | Knowledge of investment charges |
| 7.3.6 | Knowledge of where to get detailed information about investments |
| 7.3.7 | Knowledge of the types of fees of Independent Financial Advisers (IFAs) |
| 7.3.8 | Knowledge of the importance of using an IFA |
Further information
Here you will find further information to help meet the competencies in the framework and in doing so your customers too.
It includes relevant training and qualifications to the particular domain (identified by a mapping exercise carried out in 2019). These links are provided for your information and should not be interpreted as approval or endorsement of the materials.
It also includes links to further information on a range of relevant domain topics. Many of these links go to the MoneyHelper website, where you can get up to date information on most of the topics along with links to other organisations and sources of support.
This information is by no means exhaustive but our intention is that it will strengthen and grow over the course of the future programme.
We have put together a directory of further information to help you meet the competencies in the framework that will also support the people you help too.
It includes relevant training and qualifications for each domain (identified by a mapping exercise carried out in 2019).
The links to training and qualifications are provided for your information and should not be interpreted as approval or endorsement of the materials. Before signing up, it is important to check the credentials of the organisation if you are not familiar with them.
Things to think about include:
- Will you get professional or recognised accreditation?
- Can you get recommendations from your network?
- Could you negotiate discounts by grouping together with other practitioners?
Bear in mind this information is intended as a starting point and we plan to add further resources as we become aware of them to create a comprehensive database that will strengthen and grow as the programme develops.
Please do let us know of any training, qualifications or information resources that you use and think would help other practitioners by contacting us.
Qualifications
CISI Level 4 Diploma in Investment Advice
LIBF Level 6 Diploma in Financial Advice
CISI Level 6 Certificate in Private Client Investment Advice & Management