The Diploma in Regulated Retirement Advice (DRRA) is designed to meet the FCA's requirements for retail investment advice purposes.
DRRA and Appropriate Qualifications for FCA Purposes
- comprises 2 units within the Advanced Diploma framework. The two units are called 'Taxation, Retail Investment and Pensions' and 'Retail Advice and Regulation'. Both units will be assessed by three hour written examinations.
- fully meets the FCA's appropriate qualification requirements for the regulated activities “advising on retail investment products which are not broker funds” and “advising on friendly society tax-exempt policies (other than Holloway sickness policies where the Holloway policy special application conditions are met)”.
- is an appropriate qualification for undertaking the FCA regulated activity as a pension transfer specialist.
The FCA has added this qualification to the appropriate qualifications list.
DRRA and the PMI Accredited Adviser Programme (PMI AAP)
As DRRA is a fully RDR compliant appropriate qualification, those who complete it will be eligible to join the PMI AAP in order to fulfill the ongoing professionalism requirements of the FCA.
The qualification comprises the following Units:
IMPORTANT NOTE: The Taxation, Retail Investment and Pensions examination has normally only been offered in October each year. In 2017 it will be offered in April and October. For the purpose of the April 2017 examination the 2016 syllabus and study manual will be used.
Advanced Diploma Syllabus Structure from 2016
The 100, 200 and 300 level syllabuses were last examined in October 2015. The Advanced Diploma changed for examinations beginning in April 2016. These changes also impact Diploma level qualifications within the Advanced Diploma structure.
Revised study material will be available from September 2015. Full details can be found in the Advanced Diploma Consultation Response Document. Further information will be made available on this website in due course.
An FAQ document has been produced that covers these issues and others and can be found here.
Candidates completing the Diploma are entitled to seek election as Diploma Members of PMI with the designatory initials DipPMI.
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