Chartered status is awarded by the Chartered Insurance Institute (CII) and is considered the “gold standard” financial planning accreditation. Chartered status is a symbol of technical competence and signifies a public commitment to upholding professional standards and adhering to a professional Code of Ethics.
Stephen joined Fyfe Financial straight from university in 2000, having graduated with a 2:1 degree in finance from the University of Manchester. Stephen was one of the first financial planners in the country to become a Chartered financial planner and attain the gold standard within the financial services profession.
Financial Planning Certificate
A recognition offered by the Chartered Insurance Institute in the United Kingdom. Individuals who hold this qualification have
satisfied coursework and testing requirements set by the organisation.
FP1 (Financial Services and their Regulation)
Assesses an understanding of the financial services industry, including regulation and legislation.
FP2 (Protection, Savings and Investment)
Assesses an understanding of protection, savings and investment products.
FP3 (Identifying and Satisfying Client Needs)
Assesses an understanding of conducting a fact-find, assessing the client’s needs, and recommending specific (appropriate) financial products to meet those needs.
CF2 (Investment and Risk)
This examination assesses a knowledge and understanding of investment products and the risks involved.
CF9 (Pension Simplification)
This examination assesses a knowledge and understanding of the Government’s simplified pension taxation regime which came into full effect on 6 April 2006 (A-Day). Eight tax regimes for pensions were reduced to one, radically affecting planning and transactions.
Level 4 Diploma in Financial Planning
This level 4 diploma meets the FCA’s qualification requirements for retail investment advisers, demonstrating core technical knowledge and financial planning capabilities across six core areas.
K20 (Pension Investment Options)
At the end of this unit, candidates should be able to demonstrate an understanding of the: main tax and legal frameworks that govern the accumulation phase of building up retirement benefits under registered pension schemes; features of defined contribution and defined benefit pensions; choices faced by early leavers and use of transfer value analysis; state retirement benefits available, including the risks and suitability of contracting out of the State Second Pension.
K10 (Retirement 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 the unsecured pension option; features, risks and tax treatment of phased retirement; features, risks and tax treatment of the alternatively secured pension option.
Advanced Diploma in Financial Planning
This qualification enables professional advisers to develop specialist planning capabilities, covers topics such as: personal tax and trust, business financial, pension and investment planning.
G10 (Taxation and Trusts)
This examination assesses a knowledge and understanding of the UK tax system, the law and practice of trusts, but also an ability to advise individual clients on the tax treatment of their investments and the use of trusts to meet their current and foreseeable future needs.
G20 (Personal Investment Planning)
This examination assesses a knowledge and understanding of investments and an ability to advise individual clients on the construction of investment portfolios to meet both their current and foreseeable future needs.
G30 (Business Financial Planning)
Assesses a knowledge of all financial planning aspects of running a business; the ability to advise clients appropriately; the ability to apply knowledge and skills to practical situations; the ability to synthesise different aspects of the syllabus and apply them to given scenarios.
G60 (Pensions)
a knowledge of pensions and pension transfers; the ability to advise clients on all aspects of pensions provision; the ability to apply knowledge and skills to practical situations; the ability to synthesise different aspects of the syllabus and apply them to given scenarios.
G70 (Investment Portfolio Management)
This qualification assessed a knowledge and understanding of portfolio investment management.
G80 (Long-Term Care)
This qualification assesses a knowledge and understanding of the UK regulation environment in the financial services industry, long-term care insurance products and the giving of long-term care insurance advice.
Stephen spends much of his time ferrying his two boys to various sporting activities, which he says is the most time-consuming but also the most fulfilling area outside of work. He also enjoys family time and plans to explore more of the world with his wife (sometimes without the kids!).
What’s a talent or skill you possess that few people know about?
I play a bit of guitar and have even written a few songs.
What’s been your proudest moment as a financial planner?
Helping a couple realise they could afford to retire immediately.
What’s been your greatest achievement?
Scoring seven goals in one match was an early footballing highlight, but after that becoming the youngest Fellow of the Life Insurance Association.
