CISI vs CII
Andy_Schleider
Member
Can anyone tell me some benefits of the CISI over CII? I'm due to sit AF7 next week (and don't hold out much hope as I've simply not had the time to study!) and I've been told it might be a good idea to sit the PTPA in December. I called the CISI and to say I wasn't impressed was an understatement. Comments like 'I guess you can join us if you like' and similar didn't really sell it to me tbh, so I thought I would try and get some views from the members on here.
I want to know if there are any eligibility criteria to sitting the exam (ie are my CII credits transferable), and whether the credits from the exam would count towards CII Chartered status.
And, what are the benefits of being a member of CISI as opposed to CII/PFS? Can you be a member of both?
Also, if you have any tips on studying and running your own business I'm all ears (or eyes!)
Thanks! 
Comments
Have a chat with @Rebecca_Tuck re the CISI pension transfer exam as she took this I think.
Chartered Financial Planner
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Head of Technical at Paradigm Norton
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Morning @Andy_Schleider, I'm also a member of both and sat the CISI pension transfer exam a couple of years back. I'm pretty sure there are no formal eligibility criteria, but it's expected that you'll have level 4 diploma of some kind before attempting it.
I can't comment on the overlap with AF7, but the CII website suggests you should get credit for it from the CISI exam so I imagine they're quite similar! I've pasted in the link below if you're not sure where/how to check: https://www.cii.co.uk/learning/accreditation/recognition-of-prior-learning/your-eligibility-and-apply/
Generally, I'd recommend not phoning the standard CISI line if you have specific queries about Financial Planning exams - they're fine for bookings etc. but if you want any detail then I'd recommend having a chat with Chris Morris. He's the deputy head of Financial Planning and I've always found him happy to help.
Here are a few links which you may find helpful.
What the CII accept as exemptions - https://www.cii.co.uk/learning/accreditation/recognition-of-prior-learning/your-eligibility-and-apply/
What the CISI accept as exemptions - https://www.cisi.org/cisiweb2/cisi-website/study-with-us/qualifications-policies-procedures#sectionD
What exams give what regulated activity - https://www.handbook.fca.org.uk/handbook/TC/App/4/1.html
Thanks @Rebecca_Tuck. I remember Chris from the Paraplanners Conference in June. I'll have a chat with him
I am also a member of both, I am a lot further behind than you in terms of exams, however, I recently tried to transfer my CISI exam to CII credits and was told that this was £2 per credit = another £80 on top of the membership fee that my employer pays.
I am unsure how to continue to be honest and may continue with the IAD, though I'm not sure where this leaves me when it comes to furthering my education in terms of becoming chartered as part of a CII firm.
As I see it my route options are:
Pay £80 to transfer to CII and complete R02-R06, or
Continue with CISI completing 2 more exams to become level 4 and worry about level 6, later if or when I need to change.
Sorry, I didn't help much with the original question.
Don't worry. I keep failing AF7 so hoping the PTPA result goes my way instead.
I'm fed up with it tbh - I should be getting ready for the last of the 4 AF exams I needed in April for Chartered, but I can't get past this exam. I'm doing DB transfers day in day out so I should know the content by now!!!
> Pay £80 to transfer to CII and complete R02-R06, or
> Continue with CISI completing 2 more exams to become level 4 and worry about level 6, later if or when I need to change”
It’s actually level 7 with CISI. They have closed entries for the level 6 diploma, only pushing the level 7 route now.
Also, as an aside, an article in FTAdviser in September said CISI have had positive talks with the privy council, taking steps to allow CISI members to have the “chartered” status.