The qualification will cover investment, protection and retirement planning as well as taxation and trust solutions.
Ifs says the final format of AFAM will be determined by analysis of the feedback provided by advisers taking part in the pilots as well as taking into account the outcomes of the RDR.
The ifs says it believes any financial advice qualifications beyond entry level need to focus on analysis, evaluation and the presentation of information, rather than purely testing technical knowledge.
Ifs says that AFAM will address a need for the development of a specific competency in the provision of financial advice which is not adequately satisfied by existing qualifications.
Ifs School of Finance head of financial regulation Mark Roberts says: “AFAM has been designed as a post- CeFA qualification for financial advisers and planners to build upon their experience and enhance their ability to understand, present and communicate complex technical information.
“Once we have analysed all the feedback from the pilots and the RDR begins to take shape, we will refine the qualification further and then make it available to all. The key to this is to have the skills needs, and the current gaps in meeting these needs, dictate the future rather than attempt to shoehorn existing strategies into future practice.”