SimplyBiz, the compliance and business support company, has given its backing to the new Diploma in Investment Planning recently launched by the Association of Independent Financial Advisers (AIFA).

The new Diploma, in association with the Chartered Institute of Bankers in Scotland and BPP Learning Media, offers an alternative, case study route for advisers seeking to meet the requirements of the Retail Distribution Review (RDR).

The new Diploma in Investment Planning will be submitted to the Financial Services Skills Council (FSSC) for approval. Advisers will gain a qualification exceeding the minimum level 4 requirements stipulated within the RDR, and will not be required to undertake gap-filling Continuous Professional Development. The new award is anticipated to be at SCQF level 9, equivalent to QCF level 5, future-proofing any additional qualification requirements that may emerge.

Ken Davy, chairman of SimplyBiz, said: “The launch of a Level 5 qualification by AIFA is a massive step forward for the IFA sector and will give all advisers the opportunity to meet the qualification requirements by demonstrating their knowledge in a practical way.