This apprenticeship standard has been approved for delivery by the Institute for Apprenticeships and Technical Education. However, starts on the apprenticeship will only be possible once a suitable end-point assessment organisation (EPAO) has obtained Ofqual recognition. Once the EPAO has obtained Ofqual recognition, funding for apprentice starts will be permitted and this message will be removed.
Find solutions to help clients achieve their financial goals
Paraplanners and financial planners are found in a range of financial organisations, from large wealth management firms to smaller planning practices. Some firms may offer a wide range of services from a variety of product providers and disclose themselves as independent financial advice (IFA) firms, whereas others may offer a more restricted or specialist range of services across a narrower range of product providers.
Both large and small firms are often supported by umbrella organisations known as networks and service providers who will provide a range of support services, including regulatory infrastructure, technology and technical assistance and consultancy support.
These roles are usually office-based, but may require visits to client premises or virtual working with colleagues and clients online.
The broad purpose of the occupations is to deliver a holistic financial planning service to corporate or individual clients and create personalised solutions designed to deliver their financial needs and objectives. This involves financial planners and paraplanners collaborating to gain a clear understanding of each client’s circumstances and needs, in order to create a financial plan to help them achieve their goals.
Paraplanner and financial planner roles within a firm are collaborative but distinct, and both have an equally vital role in the advice process.
Paraplanner
A paraplanner supports the financial planner in the provision of regulated advice. They use their technical knowledge, expertise and capability to interpret client needs and objectives and undertake extensive research to examine potential financial options whilst utilising a variety of software applications and tools. They rationalise a range of solutions and select those most appropriate in order to create regulatory-compliant, written financial reports that are tailored to the client and clearly explain their financial options. These reports are then used by the financial planner when presenting financial options to the client.
Financial Planner
A financial planner is responsible for the client relationship and uses their knowledge, skills and expertise to understand their client’s circumstances, needs and objectives, in order to provide regulated financial advice. They design, deliver and maintain appropriate financial solutions for the client whilst building trusting and enduring relationships with them. This involves the detailed gathering of hard and soft facts from clients and utilising software applications and tools to research potential solutions and deliver personalised recommendations. This is often done through face-to-face meetings or through online, virtual meetings. As this is a regulated occupation, any solutions, options and recommendations must be delivered to the client in verbal and written format. Financial planners may have additional responsibilities such as adhering to key performance indicators on quality and service standards, or for meeting commercial objectives for the firm by seeking new business opportunities from clients.
In their daily work, an employee in either occupation will interact with a wide range of internal and external stakeholders. Financial planners and paraplanners would typically be integral roles within a finance firm, working alongside compliance and support services and other finance specialists.
Depending on the firm, both can deal with clients, although this would usually only apply to the financial planner who would be responsible for building relationships and rapport with clients.
On a day-to-day basis, paraplanners would typically deal with product providers and fund management groups, while the financial planner is more likely to deal with professional connections such as accountants and solicitors.
An employee in these occupations would be responsible for providing accurate financial planning services in accordance with financial regulations and would demonstrate a high degree of honesty and integrity.
This is a summary of the key things that you – the apprentice and your employer need to know about your end-point assessment (EPA). You and your employer should read the EPA plan for the full details. It has information on assessment method requirements, roles and responsibilities, and re-sits and re-takes.
An EPA is an assessment at the end of your apprenticeship. It will assess you against the knowledge, skills, and behaviours (KSBs) in the occupational standard. Your training will cover the KSBs. The EPA is your opportunity to show an independent assessor how well you can carry out the occupation you have been trained for.
This apprenticeship has a mandatory qualification to complete. You will complete the training for the qualification during the first 24 months of the apprenticeship. The final assessment for the qualification is integrated in the apprenticeship. This means that it will take place in the EPA period and count towards both the apprenticeship and the qualification.
Your employer will choose an end-point assessment organisation (EPAO) to deliver the EPA. Your employer and training provider should tell you what to expect and how to prepare for your EPA.
The length of the training for this apprenticeship is typically 24 months. The EPA period is typically 5 months.
The overall grades available for this apprenticeship are:
When you pass all assessment methods for the EPA, you will be eligible for your qualification certificate and will be awarded your apprenticeship certificate.
The EPA gateway is when the EPAO checks and confirms that you have met any requirements required before you start the EPA. You will only enter the gateway when your employer says you are ready.
The gateway requirements for your EPA are:
For the paraplanner and financial planner, the qualification required is:
CII Diploma in Regulated Financial Planning
CISI Diploma in Investment Advice
LIBF Diploma for Financial Advisers
Professional discussion underpinned by a portfolio of evidence
You will have a professional discussion with an independent assessor. It will last 60 minutes. They will ask you at least 6 questions. The questions will be about certain aspects of your occupation. You need to compile a portfolio of evidence before the EPA gateway. You can use it to help answer the questions.
A project with a case study financial report
You will be asked to complete a case study financial report. The EPAO will give you suggested project titles. As part of the project, you need to write a case study financial report and submit this to the EPAO. The case study financial report should be a maximum of 2500 (with a 10% tolerance).
You will have 2 weeks to complete the project and submit the case study financial report to the EPAO.
You will have a question and answer session with an independent assessor to discuss the project. It will last 45 minutes. They will ask at least 5 questions.
Test
This is an integrated assessment method. You will complete a test in line with the requirements of the qualification.
You should speak to your employer if you have a query that relates to your job.
You should speak to your training provider if you have any questions about your training or EPA before it starts.
You should receive detailed information and support from the EPAO before the EPA starts. You should speak to them if you have any questions about your EPA once it has started.Reasonable adjustments
If you have a disability, a physical or mental health condition or other special considerations, you may be able to have a reasonable adjustment that takes this into account. You should speak to your employer, training provider and EPAO and ask them what support you can get. The EPAO will decide if an adjustment is appropriate.
This apprenticeship aligns with Chartered Insurance Institute for Level 4
Please contact the professional body for more details.
This apprenticeship aligns with Chartered Institute for Securities and Investment for Level 4
Please contact the professional body for more details.
This apprenticeship aligns with The London Institute of Banking & Finance for Level 4
Please contact the professional body for more details.
| Version | Change detail | Earliest start date | Latest start date |
|---|---|---|---|
| 1.0 | Approved for delivery | 06/05/2025 | Not set |
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