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2026-03-16T13:49:02Z

You Have Done Your CPD; But Are You Truly Competent?

2025-08-28T09:02:02Z

LATEST NEWS

2025-01-15T13:03:42Z

AF Exams

We offer these modules for the AF exams:

AF1 Personal tax and trust planning: study package
AF4 Investment planning: study package
AF5 The Expected Solution Package
AF7 Pension transfers: practice papers

CPD and diploma system

Our CPD and diploma system is your ‘one-stop-shop’ where we help you to fulfil your CPD needs or help with your diploma studies and includes:

Monthly CPD update service
Diploma gap analysis assessments
5 diploma online courses: R01 to R05
Compliance online courses
Focus on topics
Specialist online course
Learning to Learn

Expected solutions for R06 and AF5

We are covering all the R06 and AF5 exam dates. .

The expected solutions can be purchased in advance and you get immediate access to our other preparation features.

The Wizard Learning Expected Solution Packages offers MORE than any other training provider:

Technical content for research
Exam technique with access to past expected solutions and mock exams
An online advice skills course
THE EXPECTED SOLUTION

Find Out More

R0 Top Tips

If you are studying for the R0 exams you will know that the study text contains a lot of technical information about the structure of the financial services industry and the regulation of those that work within it, along with some complex legal concepts and many principles and rules to remember.

Our Top Tips for success which you can view HERE aim to help you get the best out of your study time and help improve your chances of passing this regulation qualification first time.

Training Directory

The directory of all our online training modules and details of content. Learning to Learn - FREE learning skills courses with every purchase.

Essential CPD

2022-05-09T10:37:15Z

Our accredited CPD system can be used at any time to refresh knowledge of specific areas and can carry out gap analysis assessments over the year as a part of advisers’ overall CPD plan. Advisers can also use the assessment results to identify areas of weakness and plan future CPD activities using the online courses.
We can deliver everything you need to satisfy your CPD requirements to maintain your regulated diploma knowledge and demonstrate your competency with quality, relevant, up to date materials at your fingertips. All the resources you could possibly need - one login, one easy to use website and one report.

We recommend that advisers try the CPD system by requesting a free seven day trial to see if it meets their requirements.

FREE TRIAL
Contact us to request a CPD trial.

Addressing the T&C Rules

2020-05-22T17:42:57Z

FAQ: how do we address the T&C rules for advisers?

Well the short answer is that you must undertake a knowledge and skills gap analysis and then create a training plan that addresses these whilst also ensuring all knowledge and skills are kept up to date, record all this and make sure the CPD requirements (at least 35 hours) and the ‘competent employee’ rules are not only met, but can be proven! The relevant rules are contained in the High-level TC Sourcebook in the FCA Handbook, underlining how central these are to the FCA core objectives.

See here for more details

Diploma Re-Evaluation

2018-10-10T11:40:15Z

FCA and CII announce exam to reassess level 4 diploma qualification
Following the FCA and CII's announcement, we have received many enquiries about whether Wizard Learning will be offering training material and assessments to help to prepare for this new CII exam – a 100 question test spread across units R01 to R05 intended to reassesses a retail investment adviser's level 4 diploma knowledge.

The answer is that this exam is completely voluntary and, while the FCA have said they may use this test as a supervisory tool if they think it appropriate to ask certain firms to retest certain advisers, for now there is no obligation to take the test.

Wizard Learning already offers a way of improving knowledge on each of the level 4 CII diploma units R01 to R05 in our accredited CPD system, which has been helping students to top-up and reassess their knowledge and competence on an ongoing basis for nearly a decade. This means that by using our accredited CPD system you won’t have to take this new exam.

The accredited CPD system is a comprehensive online professional development tool that provides invaluable CPD support for busy aspiring and qualified advisers – a reliable and essential resource for ensuring that level 4 diploma knowledge is kept up to date, and demonstrated by way of assessments.

The 5 September announcement by the CII and FCA is a clear signal that CPD on its own in not likely to be enough going forward, and advisers will have to prove their diploma knowledge by assessment as well as completing CPD.

With our system you have both the assessments AND the learning materials - see the information page at accredited CPD system for more details.

The extension of the Senior Managers and Certification Regime to advisers next year will also focus firms on how knowledge is maintained and measured.

FCA and CII announce new exam to ‘reassess’ Level 4 qualifications
Money Marketing has issued this article.

The CII information on the exam is here. The exam is called the Regulated Retail Investment Adviser Re-Evaluation (RAR) and costs £150 for non-members and £110 for CII members.

Wizard Learning's comment
With Wizard Learning accredited CPD system there is already a way of proving your R01 to R05 knowledge by online assessment without having to take an exam. You can take exam-style assessments for each of R01 to R05, and you have the online courses for each of the units to enable you to study the knowledge gap areas that you don’t do so well on. Then, after reviewing these areas, you can take further assessments. All your studying also counts towards your CPD as well.

A free 7 day trial can be requested to see if it meets your requirements. You just need to register (if not already registered), login and then request the trial using the My Account menu link.

Other CPD features included monthly CPD financial updates and assessments, and compliance courses on Financial crime, General Data Protection Regulations (GDPR) and Complaints procedures, all of which have a knowledge assessment.

Testimonials
“I would thoroughly recommend using the Wizard Learning CPD system for your entire CPD recording; it is independent of any accrediting body, inexpensive, useful and so flexible that people will actually use it.” Karen Malin, Managing Director of TheGIConsultant.com Limited, compliance support provider for financial services advisory firms.

“Wizard Learning is integral to all of our CPD requirements. Everyone within the firm benefits from the system in some way, be that through the regulatory modules, CII examination modules or the topical modules such as Workplace Pensions. Mike (the Wizard) is always on hand to help and to offer guidance on the latest regulatory changes which may affect ongoing CPD. The monthly modules are core for our team and the system provides a simple, yet thorough way of keeping up to date with industry developments whilst providing a record of our learning.” Jilly Mann FPFS IMC, Joint Managing Director, Chartered Financial Planner, Telford Mann Ltd

Expected solutions for R06 and AF5

2018-05-29T08:50:13Z

Expected solutions for R06 and AF5

Something new added to our Expected Solution Packages at no extra cost…

Access to Wizard Learning Financial Planning Practice online course! The full contents of the course can be viewed here.

While we expect most candidates to have some degree of experience in an adviser role, that may not be the case for everyone. We want our Expected Solution Packages to benefit all candidates, including those who have never worked in an adviser role before. The Wizard Learning Financial Planning Practice online course covers the advisory process and, experienced or not, this is an invaluable addition to the Expected Solution Packages, making it the most comprehensive available in the market place today. And the best value for money.

The Wizard Learning Expected Solution Packages offers MORE than any other training provider:

Technical content for research

Exam technique with access to past expected solutions and mock exams

An online advice skills course

THE EXPECTED SOLUTION

It’s a no brainer!

Trust Wizard Learning for your Expected Solutions
Our ability to provide a useful, up-to-date, detailed and relevant Expected Solutions stems from the fact that the approach of the CII in respect of testing your financial planning expertise has largely remained unchanged. This enables our panel of experts, all of whom are qualified to at least Chartered status and with considerable experience of preparing candidates for the R06 and AF5 exams, to predict the nature of the questions that will appear in the exam.

Information pages:
R06 The Expected Solution Package
AF5 The Expected Solution Package

See the cost and contents page for more details.

Enhanced Diploma Package

2018-05-28T16:04:44Z

Enhanced Diploma Package
We offer an Enhanced Diploma Package that builds on the regulated diploma material included in our accredited CPD system.

If you have not already done so, we would like to invite you to now take a FREE 7 day trial of our accredited CPD system. This meets the requirements of the FCA for qualified advisers in relation to completing structured CPD. It is also ideal for trainee advisers working their way through the regulated Diploma exams. The CPD system is available for a low monthly cost enabling you to have access to:

Online courses for R01 to R05
Gap Analysis and Assessment Tools for R01 to R05
Compliance related courses
‘Focus On’ topics
Specialist courses
Learning to Learn study assisting courses
A monthly Financial Services Industry Update and assessment

The benefits of our CPD system include:

A ‘one stop shop’ for all your current and future study and CPD requirements
A wide range of materials available in a variety of styles
The ability to cross reference topics over different exam syllabuses
The ability to refresh knowledge over the entire Diploma syllabus at any time
The ability to identify training needs and carry out appropriate activities to improve in areas of weakness
Continuous awareness and up-to-date knowledge of industry developments
A record of your CPD activity through a range of exportable reports
The ability to include externally undertaken CPD activities within your records
Peace of mind in knowing that the activities you undertake within the system are recognised as structured CPD though an accredited CPD system.

How to request a trial
To request your FREE 7 day trial, login to the website if already registered, follow the link to My Account and then click on the Apply button for the CPD System Trial. If you are not already registered you must register first and then login to the record you create by registering. We hope that you will be able to fully explore the system during this time and see that the extensive range of materials and the choices available for how they are used provide value for money.

How to purchase online by monthly card payment
If you have already requested your free trial, we hope you will want to continue having access to the extensive range of materials provided and will go ahead and become a regular subscriber. Just follow the link from the homepage to Buy Accounts and subscribe to the CPD SYSTEM - Accredited CPD, we will ensure that your access to the system continues for as long as your subscription continues.

If you are a regulated diploma student
In addition, after setting up your regular payment arrangement under the CPD system please inform us that you are a regulated diploma student and which exam you are taking next and we will provide these additional benefits under our enhanced diploma package:

For those studying for any of the R01 to R05 exams:

Self-marked type in assessments - an additional assessment feature that has 5 self-marked type-in questions per learning outcome plus a final assessment to be taken at the end of your studies. Take an assessment after studying each online chapter as an ideal way to revise and test your knowledge and understanding.
Financial Planning Practice online course that provides a complete view of the advisory process. The full contents of the course can be viewed here.

R06 exam:

25% discount on our R06 expected solution package - this includes a full and detailed analysis of both exam case studies. You can request a discount code using the ‘contact us’ page when you have entered the R06 exam.

We look forward to hearing from you to set up either your system trial access or in making a purchase.

IMPORTANT ACTION REQUIRED
After purchasing access to the CPD system that makes up the core elements of the Enhanced Diploma Package you must contact us to notify is that you are a regulated diplom student in order for us to add the additional regulated diploma elements to your access. Please also state which exam you are taking next.

R08 assessments

2015-09-30T23:34:09Z

We have now added the following R08 assessment package module to our website. You can view our full training directory here and the costs here.

R08 Pensions update – Gap Analysis and Assessment Tool
Our assessments are designed to help you revise, identify knowledge gaps for further study and to get practice on exam style questions for areas that you might be asked about in the exam. It includes numerous additional features to assist you with your revision and exam preparation.

There are 2 parts to this package, 6 case studies each comprising 5 multiple-choice questions AND a bank of 270 multiple-choice questions.

Assessment details
You can chose from these 4 assessment types:

25 or 50 questions delivered in revision style
25 or 50 questions delivered in exam style

Note in the CII exam you will need to answer 40 questions and 1 case study comprising 5 MCQs in 1 hour.

Revision style allows you to view the answer after every question. With the exam style you complete all the questions in the same manner as you do in the actual exam.

Both styles include all these features:

Total marks scored and percentage
Marks and percentage scored for each learning outcome
Questions you answered incorrectly along with the correct answer are detailed against each learning outcome
Ability to print the results report detailing the above information
Your average marks are benchmarked against others using this module
Your statistics and study time are included on your personalised learning log/CPD certificate - you can view and print this at any time.

Try our 5 question revision style demo Access is provided for 6 months and includes syllabus updates. If you purchase multiple training modules a discount is available along with a longer access period.

FREE "LEARNING TO LEARN" SKILLS COURSE PACKAGE
Provided FREE when you purchase any training module. Included are 5 online courses covering learning skills on: time management, exams, study, reading & memory.

Questions per assessment: Each assessment includes the correct weightings per learning outcome that you will receive in the actual exam.

Questions: There are 300 questions in the database including the case studies. Our system records the questions you have viewed so that they are not repeated until you have worked your way through the full question bank. An ongoing tracking of the questions delivered ensures that a different mix of questions is included in each assessment and that the questions do not repeat quickly. Questions are written and reviewed by subject knowledge experts with many years of experience in training and exam setting.

Flexible navigation: Allowing you to skip and tag questions to revisit and review before completing the assessment.

Timer: A clock shows the expected and elapsed time for each assessment. You can however take as long as you need to complete each assessment.

Recovery feature: If you leave an assessment part way through the system will return you to the same point when you next return.

CII R08 exam information

40 questions and 1 case study comprising 5 MCQs spread across 7 main learning outcomes
Exam is taken on a computer at a CII designated test centre
Pass mark is 65% with results being given immediately at the end of the exam
1 hour is allowed to complete the exam
10 credits at diploma level are allocated on passing
Year round optional exam dates at CII test centres.

Our online learning allows you to access your training wherever you are from any computer at any time.

Doing the right CPD

2015-09-29T08:24:16Z

‘R’ you doing the right CPD?

Our accredited CPD system has been built to help advisers meet the exacting standards for Statement of Professional Standing (SPS) CPD.

Further CPD information is also available on these links:

Accredited CPD system
Which CPD camp are you in? (audiovisual presentation)
Identifying and recording your structured CPD (audiovisual presentation)

You can subscribe to our accredited CPD system by logging in and selecting the CPD system from the Buy Accounts page. If you don't have an existing record you can create one here.

How to meet the exacting standards for Statement of Professional Standing (SPS) CPD

The regulator’s syllabus
The FCA (Financial Conduct Authority) Handbook sets out the following standards for the required CPD (Continuing Professional Development), to attain a Statement of Professional Standing (SPS) in TC 2.1.22:

“All continuing professional development should:

(1) be relevant to the retail investment adviser's current role and any anticipated changes to that role;

(2) maintain the retail investment adviser's knowledge by reference to current qualification standards relevant to the retail investment adviser's role;

(3) contribute to the retail investment adviser's professional skill and knowledge;

(4) address any identified gaps in the retail investment adviser's technical knowledge;

(5) have written learning objectives based on learning needs and a documented learning outcome;

(6) be measurable and capable of being independently verified by an accredited body.”

We will return to these numbered areas of guidance later.

Also, you need to note that TC 2.1.23 states the following:

“Continuing professional development completed by a retail investment adviser in relation to activities other than acting as a retail investment adviser should not be taken into account for the purposes of TC 2.1.15 R unless it is also relevant to the activity of acting as a retail investment adviser.”

TC 2.1.15R is the requirement to do 35 hours CPD.

It is left to the accrediting body to accept or reject the CPD evidence based on the guidance in the FCA Handbook. However, it is quite clear that for CPD to count towards the regulatory minimum 35 hours it must be based around the activities of a retail investment adviser, and not some other role, such as a mortgage adviser, an insurance broker or a marketer. This means that it might be necessary to carry out further CPD activity in addition to the 35 hours required for the SPS.

On a lighter note, the syllabus is quite broad and includes regulation, compliance, ethics and customer facing skills.

Relevant and in line with the current qualification standards
Taking points (1) and (2) from the guidance above:

(1) be relevant to the retail investment adviser's current role and any anticipated changes to that role;

(2) maintain the retail investment adviser's knowledge by reference to current qualification standards relevant to the retail investment adviser's role;

This can be achieved by matching topic areas to the appropriate exam syllabus and this is where Wizard Learning can help. The Diploma in Regulated Financial Planning learning objectives are all there in the accredited CPD system, as it includes online courses for R01 – R05 (you can also purchase these individually).

This material will always be current as it is constantly being updated. An additional feature is a list of updates so that it is easy to focus on areas that have changed.

Advisers using this tool can be sure that the CPD they carry out is relevant and acceptable.

Training needs analysis
It makes practical sense to establish what areas of training and development should be focused on before embarking on a program of CPD – otherwise it will prove neither productive nor effective!

Taking guidance points (3) and (4), we can see that this is exactly what the FCA hoped to achieve when setting the requirements:

(3) contribute to the retail investment adviser's professional skill and knowledge;

(4) address any identified gaps in the retail investment adviser's technical knowledge;

An adviser (and/or their supervisor) might be able to establish some of their training and development needs based on their experience and performance in their role, and by measuring this against what is expected of them. For others, supervision is not so hands-on and some advisers might struggle to identify what it is they should focus their learning on – they don’t know what they don’t know!

Both the Wizard Learning CPD system and the gap analysis and assessment tool are designed to address this with tests in each area of the syllabus. You can choose the number of questions you wish to answer, and the results are recorded. Having identified the shortfalls in your knowledge and skills, the materials for plugging these gaps are all available at your fingertips and are contained in the online courses.

Recording the outcomes
The FCA has clearly stated that a collection of attendance certificates is not sufficient evidence of CPD. Turning to points (5) and (6):

(5) have written learning objectives based on learning needs and a documented learning outcome;

(6) be measurable and capable of being independently verified by an accredited body.”

The learning outcome needs to be documented. There are several ways to achieve this, including written notes and reports, summaries and test results. The Wizard Learning CPD system allows for all of these types of CPD evidence to be recorded in the adviser’s record in a way that can be verified.

Structured CPD
The FCA definition of structured CPD is as follows (from fca.org.uk website).

“Structured CPD is an activity that uses material or activities that are designed to achieve a particular learning outcome.”

It can include “…completing appropriate e-learning. For a minority of activities it might also include structured, educational reading, where quality reading material has been produced to meet the required learning outcome.”

The FCA Handbook provides examples of unstructured CPD, as follows:

(1) conducting research relevant to the individual's role;

(2) reading industry or other relevant material;

(3) participating in professional development coaching or mentoring sessions.”

Even after studying all of the FCA rules and guidance, there remains some uncertainty as to what counts as what!. For example, when does your essential reading and research cross over from unstructured to structured? This is when the recording of learning objectives against outcomes is essential. Remember that 14 hours of unstructured CPD is acceptable, so research undertaken for a specific client can still be counted towards your unstructured total where it meets the required minimum 30 minutes duration, provided it is relevant to your role and provided an outcome is recorded. The outcome is sometimes referred to as a ‘reflective statement’. This mean you explaining what knowledge has been gained or refreshed, and to what end. In other words, the benefit needs to be relevant to retail financial advising.

In summary
Whether you are embarking on Diploma courses or you are considering subscribing to our accredited CPD system, the Wizard Learning packages will fulfil the following regulatory needs:

Training needs analysis
Verification of competency
Continuing Professional Development to the required standards
Record keeping
Evidence of activity

And finally, you will inevitably pick up other snippets of useful information along the way - information that is relevant and useful in your day-to-day dealings with your clients.