CISI Chartered Wealth Manager

The CISI Chartered Wealth Manager is the new, dedicated career pathway for wealth managers, private client managers and IFAs. Highly respected within the industry, it gives you the breadth of knowledge you need to deliver an excellent service to clients, winning you recognition and trust from both clients and employers alike.

With over a decade's experience in teaching towards CISI examinations, we understand the requirements better than anyone else – the CISI has awarded BPP 'premier training provider' status. With BPP you'll benefit from expert tutor support, classroom and distance learning options with on and offline materials. Once completed, you'll be eligible for full membership status (MCSI).

BPP Professional Education prepares you for exams that are assessed and awarded by The Chartered Institute for Securities & Investment (CISI).

Key details: Dates and prices

 

Key Information

  • Use of the prestigious MCSI letters after your name
  • Spread your studies over 18 months
  • Eligible for Fellow of the CSI designation
  • Work towards RDR compliance requirements
  • Fully endorsed by the Financial Skills partnership
  • Full-time support from expert BPP tutors
  • Meets the FCA's mandatory exam requirements
  • Recognised by private clients and employers alike

Lift your earnings potential

This flagship qualification wins you instant recognition as having the knowledge and skills needed to deliver an outstanding service to private clients. Once completed, you'll be eligible for full membership of the CISI and to use the prestigious MCSI letters after your name.

The CISI Chartered Wealth Manager has received an unprecedented endorsement from the Financial Skills partnership. It is also on the FCA Appropriate Exam List for the following six regulated activities:

  • Advising on securities
  • Dealing with or for retail clients in securities
  • Advising on derivatives
  • Dealing with or for clients in derivatives
  • Advising on packaged products
  • Managing investments

Work towards RDR Compliance

As a level seven qualification, the CISI Chartered Wealth Manager meets the RDR requirements in full and can be taken by new advisers.

There are no gaps between the level seven CISI Chartered Wealth Manager syllabus and the new exam standards, therefore you won't need a qualification gap-fill.

Switching from the CISI Diploma

If you have been working towards your CISI Diploma and wish to switch to the CISI Chartered Wealth Manager, you can. Knowledge acquired in the PCIAM qualification will help you with the training, and if you have already taken Investment Analysis (IA) and/or Interpretation of Financial Statements (IFS), you may be exempt from unit one.

Outstanding flexibility and study options

The qualification consists of three units: Financial Markets, Portfolio Construction Theory and Applied Wealth Management. It is recommended you take them in this order – and the programme is designed so that you can take the units progressively over 18 months.

You can choose from classroom courses or distance learning. We also provide an in-house service. Please email in-house@bpp.com for more information on this option.

The latest learning materials

Throughout your CISI Masters, we'll provide the most up-to-date study texts and guides. We'll give you press cuttings, PowerPoint course slides and tutor support either face-to-face or via phone and email. We'll also help you prepare with practice questions and practice papers from past papers, to make sure you're fully ready for your exams.

Dates and prices

For dates and prices and exam information, view the following forms: 

There were some syllabus changes for the 2014 exam sittings. We therefore adjusted our teaching structure to accommodate these changes, and Unit 2 (PCT) and Unit 3 (AWM) will both now be 5 day courses held over 2 phases. Unit 1 (Financial Markets) remains at 6 days, also held over 2 phases. We also have a 2 day revision course for each unit, which will cover exam technique and past examination practice questions.

Any syllabus content that previously overlapped across different units has now been removed. The overall content of the Masters qualification has remained fully RDR compliant.

Revision Courses

The 2 day Masters Revision Courses are very practical, hands-on and question based. You’ll work your way through lots of questions from various parts of the exam with plenty of guidance, debriefs and direction from your tutor to ensure you are applying all your knowledge to maximise your exam prospects. There is a limited amount of teaching, but this will focus on brief re-caps of key points in preparation for the tackling exam style questions, plus explanations of key learning from questions undertaken. Along the way there will be plenty of tips and advice from your tutor on what to look out for in the exam and the best strategy to approaching the exam. We believe that these Revision courses are an essential part of preparing for the exam. See here for Dates and prices.

Structure

The CISI Chartered Wealth Manager is split into three consecutive units. You must study and pass exams for all three units to complete the qualification. 

We recommend you study for one unit at a time. The exams for each unit take place twice a year, in June and December, and you can spread your studies over 18 months.

Unit 1  Financial Markets

This unit focuses on the environment in which wealth management operates. The unit is broken down into the following syllabus areas:

  • Economics and interpretation of economic statistics
  • Introduction to financial statements
  • Investment mathematics
  • Investment analysis

Unit 2  Portfolio Construction Theory

This unit looks at the theory of portfolio construction and behaviour. The unit is broken down into the following syllabus areas:

  • Portfolio construction theory

Unit 3  Applied Wealth Management

This unit reviews practical portfolio construction and management and is broken down into the following syllabus areas:

  • The advisor-client relationship
  • Cash management
  • Overview of insurance products
  • Overview of investment products
  • Pension wrappers
  • Use of other investments (e.g. property)
  • Effective philanthropy
  • Tools and techniques
  • The practice of portfolio construction
  • Taxation and trusts

Please note that Unit 3 is a case study based exam, building on knowledge acquired from Units 1 and 2. However our course structure has changed, due to the syllabus changes, and we have developed the first phase course to focus on new areas as well as case study technique, and the second phase covers taxation and trusts.

Flexible learning

The CISI Chartered Wealth Manager is available to study both as a classroom-based course and through distance learning – allowing you to choose the option that best suits your circumstances.

We use a tried and tested two stage approach to teaching each course, to help maximise your chance of success. This includes:

  • Phase One – introduction to key concepts and ideas – learn and understand the main subject areas
  • Phase Two – broaden and apply your knowledge through testing and consolidation


Distance learning

Our distance learning course enables you to study at a time, pace and place that suits your lifestyle. This option gives you added flexibility, but it still covers all aspects of the syllabus, so you don't miss out on core subject areas. Throughout your studies, you'll also receive expert support from our experienced tutors.

Key benefits

  • Full tutor support, whether learning in the classroom or self-study
  • Practice exam papers and consolidation exercises
  • Study guide for time management tips and learning techniques
  • The best text books and user friendly learning materials
  • Press cuttings for real-world study
  • PowerPoint course slides of class tutorials


Tailored training

As well as offering courses for individuals, we're happy to work alongside firms to help develop their employees – improving capabilities and knowledge. Above all, we focus on the precise requirements of your organisation, providing tailored training at a time and location to suit you.

To find out more about how we could help your organisation, please email in-house@bpp.com.

How to apply

There are now entry requirements for the CISI Chartered Wealth Manager. Please note, these eligibility rules apply to candidates booking their first unit of the CISI Chartered Wealth Manager for the December 2013 or sittings after that. It does not apply to candidates booking for June 2013 or to any candidate who has booked any unit of the CISI Chartered Wealth Manager for a sitting prior to December 2013.

A number of qualifications are acceptable for entry to the CISI Chartered Wealth Manager and we would recommend you pass a benchmark qualification such as the Investment Management Certificate, Certificate in Securities or Investment Advice Diploma. Please see here for more details.

Also, you may sit the exam as many times as you like.

Possible exemptions

Exemptions are available on the following papers, depending on your existing qualifications and experience:

  • CISI Diploma in Interpretation of Financial Statements
  • CISI Diploma in Investment Analysis

Please contact the Chartered Institute for Securities and Investment to see if you're eligible for exemptions – email exemptions@sii.org.uk, or visit their website.


Scenarios for existing CISI diploma delegates

If you've studied towards one or more papers from the existing CISI Diploma and can't decide whether to continue with the CISI Diploma or move onto the new CISI Chartered Wealth Manager programme, we've outlined some scenarios which could help you decide.
 

Studied towards one CISI Diploma paper

The options below are applicable to delegates that have studied towards one existing CISI Diploma paper. They show the options available depending upon the paper you have already sat. Please note that you could take any of the three modules from the CISI Chartered Wealth Manager as one of your papers to complete the CISI Diploma (certain restrictions apply - see table at the bottom of this page).
 

Regulation and Compliance (R&C)

You could either decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (3 modules and exams).
 

Private Client Investment Advice and Management (PCIAM)

You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (3 modules and exams, but PCIAM knowledge will assist you in the CISI Chartered Wealth Manager.
 

Investment Analysis (IA)

You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR start the CISI Chartered Wealth Manager because you are exempt from module 1 (Financial Markets) of the CISI Chartered Wealth Manager so can progress straight to module 2 (Portfolio Construction Theory).
 

Interpretation of Financial Statements (IFS)

You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR start the CISI Chartered Wealth Manager because you are exempt from module 1 (Financial Markets) of the CISI Chartered Wealth Manager so can progress straight to module 2 (Portfolio Construction Theory).
 

Any other CISI Diploma paper........

You could decide to either continue and complete the CISI Diploma (2 more subjects and exams); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager from the beginning (3 modules and exams).
 

Studied towards two CISI Diploma papers

The options below are applicable to delegates that have studied towards two existing CISI Diploma papers. They show the options available depending upon the papers you have already sat. Please note that you could take any of the three modules from the CISI Chartered Wealth Manager as your third paper to complete the CISI Diploma (certain restrictions apply - see table at the bottom of the page).
 

Regulation & Compliance (R&C) and Private Client Investment Advice and Management (PCIAM)

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (3 modules and exams, but PCIAM knowledge will assist you in the CISI Chartered Wealth Manager); OR finish the CISI Diploma (taking Investment Analysis or Interpretation of Financial Statements) and then complete the CISI Chartered Wealth Manager (2 modules and exams), because IA or IFS gives you an exemption from module 1 (Financial Markets).
 

Regulation & Compliance (R&C) and Investment Analysis (IA)

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (2 modules and exams, because IA gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Chartered Wealth Manager (2 modules and exams, because Investment Analysis gives you an exemption from module 1 (Financial Markets)).
 

Regulation & Compliance (R&C) and Interpretation of Financial Statements (IFS)

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Chartered Wealth Manager (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)).
 

Investment Analysis (IA) and one other CISI Diploma paper

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (2 modules and exams, because IA gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Chartered Wealth Manager (2 modules and exams, as IA gives you an exemption from module 1 (Financial Markets)).
 

Interpretation of Financial Statements (IFS) and one other CISI Diploma paper

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Chartered Wealth Manager (2 modules and exams, because IFS gives you an exemption from module 1 (Financial Markets)).  
 

Any other combination of two CISI Diploma papers

You could decide to either continue and complete the CISI Diploma (1 more subject and exam); OR stop the CISI Diploma, and start the CISI Chartered Wealth Manager (3 modules and exams); OR finish the CISI Diploma (1 more subject and exam) and then complete the CISI Chartered Wealth Manager (2 or 3 modules and exams – level of additional workload will depend upon which two specific CISI Diploma papers have been taken).

For specific information on exemptions, we recommend that you contact the Chartered Institute for Securities & Investment (CISI) directly on +44 (0) 20 7645 0600.  
 

CISI Diploma papers that count towards CISI Chartered Wealth Manager modules

The existing CISI Diploma papers that can be taken with the new CISI Chartered Wealth Manager modules to achieve the CISI Diploma are represented in the table below:
 

Financial Markets

  • Bond & Fixed Interest Markets
  • ICAEW Diploma in Corporate Finance
  • Financial Derivatives
  • Fund Management
  • Global Operations Management
  • Management Studies
  • Private Client Investment Advice & Management
  • Regulation and Compliance

Portfolio Construction Theory

  • Bond & Fixed Interest Markets
  • ICAEW Diploma in Corporate Finance
  • Financial Derivatives
  • Global Operations Management
  • Interpretation of Financial Statements
  • Investment Analysis
  • Management Studies
  • Regulation and Compliance

Applied Wealth Management

  • Bond & Fixed Interest Markets
  • ICAEW Diploma in Corporate Finance
  • Financial Derivatives
  • Fund Management
  • Global Operations Management
  • Interpretation of Financial Statements
  • Investment Analysis
  • Management Studies
  • Regulation and Compliance

Study locations

Classroom teaching for the CISI Chartered Wealth Manager is held at the London Liverpool Street study centre – close to Bank, Moorgate and Liverpool Street. Based at the heart of the UK's corporate finance world, it allows us you to rub shoulders with the industry's leading thinkers.