Diploma for Financial Advisers (DipFA)

Financial advisers help people manage their money, plan for the future, and achieve their goals.

Do you have strong communication skills, empathy, and a knack for problem-solving? You could thrive in this rewarding career – and DipFA is your first stop to achieving it.

Key information

18 months to complete if registering for the full qualification
12 months to complete each module if registered separately
Six modules in total
DipFA is the foundation for professional financial advisers

Regulation
• Registered with Ofqual in the Regulated Qualifications Framework (RQF)

• Meets the Financial Conduct Authority's (FCA) examination standards

• Appears in the Financial Adviser apprenticeship standard
Assessment
• Assessed through multiple-choice exams and final coursework

• Take your exam any time through our Brightspace platform with remote invigilation

• Receive a digital certificate once you've passed

About the qualification

DipFA is the minimum level qualification you need to become a financial adviser, as laid down by the Financial Conduct Authority (FCA).

Study online, fitting your learning in around your life – in a way that works for you.

When studying DipFA you’ll learn all the skills you need to begin your career as a financial adviser. And, because we include case study-based learning, you’ll gain practical knowledge that you can immediately apply in the workplace.

During your studies, you’ll become a Member of LIBF (MLIBF). Membership offers benefits such as career support and access to professional networking events.

Hear from a DipFA learner

The learning experience with LIBF was very supportive, with clear goals and markers to be achieved throughout the programme. This really helped me stay on track with my studying.

Julie SoarMortgage and Protection Adviser

Module information

DipFA consists of six compulsory units, contained within six modules.

Are you eligible for an exemption?

If you have qualifications from us or another awarding body, you may be eligible to apply for recognition of prior learning.

Module 1

Financial Services Regulation and Ethics (FSRE)

FSRE introduces the financial services profession, covering regulations, ethics, client skills, and financial products to help advisers meet client needs.

Module 2
Advanced Financial Advice – Taxation (AFAT)

This module builds your understanding of the UK taxation system and equips you to analyse the tax treatment of individuals and trusts when advising on investments.

Module 3
Advanced Financial Advice – Investments (AFAI)

Explore the economic impact of investments, investment products, and theories, preparing you to guide clients in achieving their financial goals.

Module 4
Advanced Financial Advice – Protection (AFAP)

Learn about the importance of financial protection. You’ll cover state benefits, protection policies, and how to identify and address clients' protection needs and priorities effectively.

Module 5
Advanced Financial Advice – Retirement Planning (AFAR)

Gain a thorough understanding of retirement planning, including state pensions, taxation, and the structure of defined-benefit (DB) and defined-contribution (DC) schemes, so you can effectively advise clients on their retirement options.

Module 6
Advanced Financial Advice – Coursework (AFAC)

Through this coursework module, you’ll develop your ability to provide effective financial planning by gathering and analysing client information, and applying knowledge from previous modules to create and communicate tailored solutions.

You can find more details about your DipFA course below:

Download full qualification specification

Key module dates

To allow you to tailor your studies to your lifestyle, you can select the coursework Fact Find submission date that best suits your needs. If your situation changes you can amend the start date of your coursework before the Fact Find is released without charge – keeping you in control.

Please note that the Fact Find is released four weeks prior to the submission date. Results are usually announced four weeks after the submission date.

16 February 2026
30 March 2026
11 May 2026
22 June 2026
27 July 2026
07 September 2026
12 October 2026
23 November 2026

Additional study materials

To support your learning, we offer a range of additional study support options that you can purchase when you register or later through your MyLIBF account by clicking the "Purchase Additional Study Support" button.

If you are studying Financial Services, Regulation and Ethics (FSRE), why not support your learning with our FSRE revision videos.

The videos focus on a broad range of the syllabus, including areas that students find more difficult. The learning is broken down into key refresher points – smaller topics that help you digest the content more easily – with examples to support your learning. The videos also include interactive knowledge questions that help reinforce your learning to help you prepare, consolidate your knowledge and consider areas you need to revise further.

The videos can be watched on any device, from anywhere in the world – as long as you have internet access – giving you the flexibility to study when and where it suits you.

The videos cost just £125 for the full series and access lasts for 12 months. Once purchased, they will be available for you to access through your www.mylibf.com account.

To purchase the FSRE videos, simply log in to your www.mylibf.com account and click on the “Purchase Additional Study Support” button.
Test your knowledge of the industry – and get personalised feedback – with our online exam practice tool, CRT.

The CRT includes all our specimen FSRE exams and will support your learning. It costs £90 for the FSRE module.

It allows you to:
- select which topics you want to be tested on
- adjust the exam timer according to how confident you’re feeling – you can be tested slowly in the early stages of your study or simulate real-life exam conditions
- get personalised feedback on where you’ve given wrong answers
- link back to the study materials where your feedback has identified knowledge gaps
- answer exam style questions from our specimen papers as well as additional knowledge test questions.
We've partnered with ICS Learn and Simply Academy to offer you flexible and convenient ways to study the DipFA course.

Classroom virtual learning with Simply Academy
Simply Academy lets you study in a virtual classroom from the comfort of your home. With small class sizes, you'll engage in interactive discussions and get live feedback from tutors. For more details on structure, costs, and timetables, visit the DipFA Academy page on Simply Academy's website.

100% online learning with ICS Learn
ICS Learn offers a fully online self-learning option, allowing you to study at your own pace, anytime, anywhere. For more information on structure, costs, and timetables, check out the Digital Academy page on ICS Learn's website.
Looking for more exam practice?

As part of your DipFA registration fee, you already get one specimen exam for each of the multiple choice exams for modules 2-6. But if you’d like extra practice, you can now buy additional specimen exams these modules to help boost your confidence and feel more prepared.

Once purchased you'll have 12 months’ access in your mylibf.com account, so you can study at a time and pace that works for you.
Get audio revision aids to revisit every topic of the study text and help you prepare for your exams. Every audio clip will be added to your course site at the end of each topic to help consolidate your learning.
- FSRE audio (£50)

Tutor support

You’ll get access to our team of experienced web tutors through an online tutor forum.

The tutors are all experts in their fields and have extensive experience in financial services, meaning they can explain the theory and show you how to put it into practice.

You’ll be able to engage in discussion with your tutors and fellow students, as well as ask questions to help you prepare for each assessment.

Assessments

Module 1

Two-hour multiple-choice exam, split into two units

Each unit: 25 questions and three case studies with five linked questions

Both units are worth a total of 80 marks

Modules 2-5

90-minute multiple-choice exam per module, split into two units

Each unit: 20 questions and two case studies with five questions each

Each unit is worth 30 marks

Module 6

Coursework with a pre-released fact find and an essay response worth 240 marks

Resits

No limit on resits. For multiple-choice units, you only need to resit the unit(s) you failed.

Exam and assessment information

How to book your exams and assessments

You can take your exam any time through our Brightspace platform with remote invigilation. There's no need to book in advance. Before you start, you'll need to do a quick 360-degree scan of your surroundings using your laptop or webcam.
On registration of module six (coursework) you will be able to choose a specific coursework session. You can view and change your coursework session via MyLIBF, but this must be changed before the deadline date.

Fees

You can register to study DipFA throughout the year.

Corporate bookings

If you are a company and want to register a cohort of students onto DipFA please email corporate@libf.ac.uk for further information.

Full qualification

£1,400
Prices includes materials and exam entry.

Register now
Modular
All module fees listed below.

Register now

Module fees:

Module one – Financial Services, Regulation & Ethics (FSRE): £310
Module two – Taxation : £260
Module three – Investment: £260
Module four – Protection: £260
Module five – Retirement Planning: £260
Module six – Coursework: £200

The price includes your study materials and first assessment entry.

Questions about our professional qualifications?

If you have any questions about our professional qualifications in finance and banking, please contact our customer services team.

Our professional qualification customer services office is open:
Monday to Friday from 8.30am to 5.30pm UK time.

Student adviser ready to help you through any queries

Accredited learning support providers (ALSP)

There are several organisations offering courses for our qualifications, especially in financial and mortgage advice. To help students make an informed choice, in addition to the DipFA Academy and online Digital Academy we also accredit a select number of reputable training organisations. These organisations have joined our ALSP scheme. To keep this status their provision is subjected to regular quality checks by us.

Using an ALSP is entirely up to you – it is not a requirement of your studies – but this extra support might be beneficial to your learning. You’ll need to pay for such provision directly to your chosen ALSP.

Please note that you will still need to register and complete DipFA with us as the qualification awarding body.

Find out more

An ALSP is a training organisation that has joined our ALSP scheme and has been formally recognised by us as delivering appropriate additional learning and training support.

To gain our recognition, an ALSP’s course is assessed rigorously and must continue to meet certain quality standards relating to:
- accuracy of course information
- comparability to LIBF’s programme of study
- accuracy of course content
- quality of delivery, both online and in a classroom
- trainer/author credentials
- course management policies and procedures
- satisfactory annual reporting of their training activities and course management.
While all ALSPs’ courses undergo regular monitoring, they might not be suitable for all students and we offer no guarantee if you use an ALSP. If you are considering using third party services, it’s very important that you assess their offering against your needs and choose your provider with great care. Please see the FAQ on what you should look for when choosing a learning support provider. A list of our current DipFA ALSPs is here.
Using a third party learning provider is entirely your choice: it is NOT a requirement of your DipFA studies. However, once you have commenced your studies, if you feel you would like or need supplementary support in addition to the resources available from us, paying for an additional course might benefit you. For example, an extra online course from a training provider might be structured in a way that suits your learning style.

Many training organisations also offer face-to-face workshops. The benefits of these include you being able to meet and learn with fellow students and a qualified trainer, discuss issues relating to your individual needs, undertake varied activities, practice exam questions and better understand your progress and learning gaps – all away from the distractions of a work/home environment.
There are dozens of learning support providers offering training courses. Please be aware that while websites appear to be professional-looking, not all are bona fide organisations. For an example of this, please see this a ruling by the Advertising Standards Agency in 2018.

If you are considering using a learning support provider that is not a recognised ALSP by us, we strongly recommend you read its website thoroughly and look at whether:
- it can be contacted by phone or e-mail (beware of those only offering a call-back service)
- an address is given. Check on the government's Companies House website that the company and its address are genuine.
- Do an online search on the address. Does the company operate from professional-looking premises?
- training course fees are clearly stated
- it states you will also need to register with us and pay the appropriate fee
- syllabus information and course content appears accurate, complete and up to date
- there are any testimonials (but bear in mind they might not be genuine)
- there are clearly stated terms and conditions. Make sure you read them carefully
- the organisation claims to be recognised or accredited by us and/or uses our logo. Please note that only ALSPs are authorised to state they are accredited by us and display the official ALSP logo. The names and contact details of our ALSPs who offer support for DipFA are published on our website here.
You are strongly advised not to simply register and/or pay for a course online. Your first step should be to phone the organisation to discuss the course and your needs. If they cannot describe the course in detail, or if there is no answer and they do not reply to voicemails or e-mails, you should be very cautious.
We are aware of a number of revision courses and learning materials being offered for sale online. If these are not being offered by one of our Accredited Learning Support Providers, you should be very wary of buying these items, even if they appear to be good value. The provider and the materials have not been reviewed by us and therefore their quality and relevance to your studies is unknown. Note that these materials might be incomplete, inaccurate or out of date and could be misleading.
If you have any concerns, please e-mail customerservices@libf.ac.uk.

Progressing your career as a financial adviser

The Certificate of Professional Achievement (CPA)
Looking for your first financial adviser position, in between jobs or working in a non-advice role? The Certificate of Professional Achievement (CPA) will help demonstrate that you’ve:
- completed DipFA or you hold another Retail Distribution Review (RDR) compliant Level 4 qualification
- met the requirements of our CPD scheme, and
- adopted our Code of Ethics.
In other words, you have everything you need to practise as a retail investment adviser in the UK, apart from the required Statement of Professional Standing (SPS).

If you start working for a company that adds you to the FCA register within three months of having your CPA, we'll convert it to an SPS at no extra charge.

Find out more.

Diploma for Financial Advisers (DipFA)