SOLLA Later Life Adviser Accreditation (LLAA) & The London Institute of Banking & Finance (LIBF)

Frequently Asked Questions

I am working towards taking the SOLLA accreditation (LLAA) and have yet to achieve a long term care qualification. What would be the advantages of me completing the Certificate in Long-Term Care and Later Life Planning (CertLTCP®) with LIBF?

There are three advantages of completing CertLTCP:

  • CertLTCP brings together two key areas of later life planning into a single qualification. It equips you with the skills and knowledge to understand clients’ needs and to provide tailored advice to clients to ensure they receive appropriate care and support during their later lives.
  • A further advantage is that when you achieve both CertLTCP and SOLLA’s LLAA (which is accredited by The London Institute of Banking & Finance), you will have completed two of the four units that comprise the Level 6 Diploma in Financial Advice (Adv DipFA®). You will then need to complete the Level 6 units: Managing Investments and Taxation, Trusts & Tax Compliance.  If you would prefer not to count LTCP because you want to take one of the other LIBF option units, Pension Transfers or Financial Planning in Retirement, you may do so. 
  • Completion of the Adv DipFA® can lead to a Chartered Designation awarded by The London Institute of Banking & Finance. Maintaining the Chartered designation is conditional on you attaining an annual Statement of Professional Standing with The London Institute of Banking & Finance or equivalent FCA appointed Accredited Body.

 Please note that to register for the Adv DipFA® you need to hold the Diploma in Financial Advice (DipFA®) or equivalent.

I am working towards taking the SOLLA accreditation (LLAA) and have yet to achieve an equity release qualification. Does LIBF offer an equity release qualification?

The London Institute of Banking & Finance offers the Certificate in Regulated Equity Release (CeRER®).  It meets the FCA regulatory requirements on advising on equity release and provides you with an additional level of expertise.  However, to achieve CeRER® and meet the Equity Release Standard you will first need to complete the Certificate in Mortgage Advice & Practice (CeMAP®) or an equivalent Level 3 mortgage advice qualification.

I am coming into the Later Life Market and have the Chartered Institute of Bankers in Scotland (CIOBS) Certificate in Financial Services.  Would I get credit for this from LIBF if I was to start the Certificate in Long-Term Care and Later Life Planning (CertLTCP®) and then progress to the SOLLA accreditation?

Unfortunately, the CBI Certificate in Financial Services would not provide credits to The London Institute of Banking & Finance awards in the later life area. However, holders of the Certificate in Long Term Care and Later Life Planning (CertLTCP®) and SOLLA’s accredited LLAA programme will accumulate half of the credits needed for the Advanced Diploma in Financial Advice (Adv DipFA).  You would then need to complete two Level 6 units: Managing Investments and Taxation, Trusts & Tax Compliance.

Please note that to register for the Adv DipFA® you need to hold the Diploma in Financial Advice (DipFA®) or equivalent.

I have the SOLLA accreditation (LLAA) and the CII certificate for Financial Advice and Long Term Care. What qualification route would I need to achieve to gain Chartered status with LIBF?

You would need to complete the following Level 6 units: Managing Investments and Taxation, Trusts & Tax Compliance, plus one further unit chosen from Financial Planning in Retirement or Pension Transfers. You would then be awarded the Advanced Diploma in Financial Advice (Adv DipFA).  Your CII award cannot be counted for credits as it is a Level 3 award.  The same applies to holders of the CII’s Award in Long Term Care, again because it is a Level 3 award.

Adv DipFA can lead to a Chartered Designation awarded by The London Institute of Banking & Finance. Maintaining the Chartered designation is conditional on you attaining an annual Statement of Professional Standing with The London Institute of Banking & Finance or equivalent FCA appointed Accredited Body.  

Please note that to register for the Adv DipFA® you need to hold the Diploma in Financial Advice (DipFA®) or equivalent.

I have the SOLLA accreditation (LLAA) and the Certificate in Long-Term Care and Later Life Planning (CertLTCP®) with LIBF. What exemption would I now get to achieve Chartered status with LIBF?

The Certificate in Long Term Care and Later Life Planning forms part of the Advanced Diploma in Financial Advice (Adv DipFA) and SOLLA’s LLAA programme provides credits against the Specialist Unit in this award. Holding both gives you half the units needed to achieve the Adv DipFA.  You would then need to complete Managing Investments and Taxation, Trusts & Tax Compliance.  If you would prefer not to count LTCP because you want to take one of the other LIBF option units, Pension Transfers or Financial Planning in Retirement, you may do so. 

AdvDipFA can lead to a Chartered Designation awarded by The London Institute of Banking & Finance.  Maintaining the Chartered designation is conditional on you attaining an annual Statement of Professional Standing with The London Institute of Banking & Finance or equivalent FCA appointed Accredited Body. 

Please note that to register for the Adv DipFA® you need to hold the Diploma in Financial Advice (DipFA®) or equivalent.

I am part way through my Chartered qualification with 2 AF (advanced level 6) papers with the CII and the Certificate for Financial Advice and Long Term Care (now Award in Long Term Care). When I achieve the SOLLA accreditation (LLAA) how will I be able to get Recognition of Prior Learning and complete my Chartered qualification with LIBF. How many of your advanced papers would I need to complete for Adv DipFA?

When you have completed the LLAA, this will be recognised against the Specialist Unit in Advanced DipFA and you would then need to complete three Level 6 units: Managing Investments, Taxation, Trusts & Tax Compliance and either Financial Planning in Retirement or Pensions Transfers to achieve the award. Potential exemptions for AF qualifications are available (although no exemption is given towards Adv DipFA for the Certificate for Financial Advice and Long Term Care).  However, you must study at least two Level 6 units with The London Institute of Banking & Finance.

Adv DipFA can lead to a Chartered Designation awarded by The London Institute of Banking & Finance. Maintaining the Chartered designation is conditional on you attaining an annual Statement of Professional Standing with The London Institute of Banking & Finance or equivalent FCA appointed Accredited Body.  

Please note that to register for the Adv DipFA® you need to hold the Diploma in Financial Advice (DipFA®) or equivalent.

How do I claim credits from The London Institute of Banking & Finance for my SOLLA (LLAA) accreditation?

You should complete and return the Recognition of Prior Learning (RPL) form, which is available on the website: https://www.libf.ac.uk/docs/default-source/cpq/exam-booking-and-information/recognition-of-prior-learning-(rpl)-application-form.pdf?sfvrsn=16

Please ensure that you provide supporting documentation to show that your SOLLA (LLAA) accreditation is current, i.e. it was achieved within the last five years. 

How much is the fee for claiming credits for my SOLLA (LLAA) accreditation?

A fee of £50 will be payable.