This follows the recent support for the DipFA by the Financial Services Skills Council (FSSC).
The ifs dean of further education, Anne Kiem said: "The DipFA was only submitted for approval after a lengthy consultation period and rigorous pilot testing. The Diploma sets out to contribute to the demands for raised standards when it comes to delivering professional financial advice. We fully accept that the FSSC still has to do its work in terms of setting out the criteria for this level of professional activity that will arise as a result of the FSA's Retail Distribution Review.
"However, the FSA accepts that where there are gaps between what the FSSC comes up with and the content of a qualification, advisers will be allowed to make up the difference through a programme of structured CPD. We shall work closely with the FSSC to ensure that our qualifications meet with their prescription and standards."
ifs School of Finance director, Tony Tudor, pointed out that the DipFA was designed specifically to help advisers acquire and deploy skills which would substantially improve the quality of the services they provide to their customers. That is what makes a difference to consumers and professional competence. Whilst broadening the knowledge base of the candidate is important, and indeed is included in DipFA, the focus is on practice and communication.
He added, "ifs School of Finance, which has substantial experience in designing and delivering qualifications both at further and higher education levels, designed the DipFA specifically to achieve a consistent and coherent approach. Everybody acquiring the DipFA will have covered the same essential elements to the same depth and breadth. This is preferable to a pick-and-mix approach which could lead to disparity between routes to the qualification."
