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The Certificate for Financial Advisers (CeFA®) is a QCF* Level 3 qualification. For many years, CeFA® has been the qualification of choice for trainee financial advisers as it met the appropriate exam standard to give retail financial advice. However, from January 2013, the regulatory standard for giving financial advice was raised from Level 3 to Level 4, meaning that gaining CeFA® doe not meet the FCA standard to become a qualified financial adviser. To achieve this, you will need to obtain an appropriate qualification at QCF Level 4 or above. The Level 4 Diploma for Financial Advisers (DipFA®) meets the required standards.
CeFA® can act as a stepping stone towards DipFA®. However the Level 3 Certificate in Financial Administration and Planning (CeFAP®) qualification has been specifically designed to be a quicker and more cost-effective alternative to CeFA®; providing the necessary industry and product knowledge before attempting DipFA®. CeFAP® also meets the National Occupational Standards for paraplanners.
CeFA® Key Facts:
Further information relating to the CeFA® can be found in the Qualification Specification
View the Certificate for Financial Advisers (CeFA®) product card
*Read more about the Qualifications and Credit Framework (QCF).
* The fee includes all units contained within the module.
CeFA® consists of seven mandatory units contained within four modules:
It is recommended that you spend 320 learning hours of study time on CeFA®. The complete course is achievable within 12 months.
Students will receive online and printed study resources for each module.
The following additional study support, designed to complement the learning manual, are available to purchase:
Please note that in order to reflect any changes to syllabuses, including matters arising from the annual budget, the study materials for some units are updated annually. It is your responsibility to ensure you are studying from the most up-to-date materials. The most up-to-date learning materials, updates and amendments can be found on my ifslearning, and we suggest that you log in regularly to check for updates.
All units are tested objectively. Tests are available at over 150 Pearson VUE test centres nationwide with the result provided on the day. View information on examination booking and venues.
The UKFR module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units, with each unit comprising 50 multiple-choice questions.
The INVR module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units, with each unit comprising 50 multiple-choice questions.
The RTPL module is assessed by a 2-hour, 100-question, multiple-choice examination split into two units, with each unit comprising 50 multiple-choice questions.
ASSI is assessed by a 2-hour, 60-question, multiple-choice examination.
The pass mark for each unit is a minimum of 70%.
You can register for CeFA® at any time.
Please call Student and Customer Services on +44 (0) 1227 818609. Please have your VISA / MasterCard / debit card to hand when you call.
Membership of the Institute of Financial Services includes access to benefits that help you to maintain your skills and knowledge, as well as supporting your career ambitions. It costs £72 per annum and can be paid monthly by Direct Debit at no extra cost. Apply for membership.
When you have successfully completed CeFA® qualification you are well placed to study for the Level 4 Diploma for Financial Advisers (DipFA®).
The DipFA® is a high quality, cost-effective, FCA-approved programme that meets the qualification standard required of anyone wishing to work as a financial adviser. The DipFA® is a benchmark qualification that meets the standards required for those giving professional advice on retail investment products.
Additionally, you may consider other Level 4 qualifications such as the Diploma in Mortgage Advice and Practice (DipMAP®) or the Diploma in Retail Banking Conduct of Business (DipRBCB®).
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