The new SIIM (Wealth Management) Programme
The SII’s new programme in Wealth Management is the first career pathway to be launched as part of the SII Masters Programme (SIIM). Developed in conjunction with leading industry practitioners and APCIMS members, the new programme is the SII’s flagship qualification and lies at the very heart of the Institute’s activities – Private Client Wealth Management.
The SIIM (Wealth Management) represents the natural evolution of the existing SII Diploma for Wealth Managers, Private Client Managers and IFAs, and has allowed the SII to blend together aspects from existing Diploma modules into a package that offers Wealth Management firms and practitioners a dedicated professional qualification.
The new programme will comprise three 3 hour narrative modules:
1.) Financial Markets - the environment in which wealth management operates
2.) Portfolio Construction Theory - the theory of portfolio construction; taxation and trusts
3.) Applied Wealth Management - practical portfolio construction and management
The main change between the current SII Diploma 'any three from nine' model and the new career path, is that candidates now follow a structured and progressive programme which culminates in a final module focusing on the construction of portfolios to meet a range of clients’ aims and needs (Applied Wealth Management).
The first examinations will be held in June 2008. BPP Learning Media has already published workbooks for units 1 and 2, with that for unit 3 due end April 2008. BPP is also offering a training course for the SIIM, details available from BPP Professional Education .
Syllabuses
Unit 1: Financial Markets Summary Syllabus
Unit 2: Portfolio Construction Theory Summary Syllabus
Unit 3: Applied Wealth Management Summary Syllabus
Recognition of existing Diploma modules
Candidates who have previously passed the SII Diploma modules of Investment Analysis or Interpretation of Financial Statements will be exempt from Unit 1 (Financial Markets) of the new programme, and can progress directly to Unit 2 (Portfolio Construction Theory). No exemptions are available for either Unit 2 (Portfolio Construction Theory) or Unit 3 (Applied Wealth Management) of the new SIIM (Wealth Management).
Although candidates will achieve the SIIM (Wealth Management) only on completion of the above units, candidates will also be able to take any of the new units as part of the existing SII Diploma. However, as much of the material in existing SII Diploma modules (such as PCIAM) has been rearranged across the new programme, there is a natural overlap of study material. As such, certain existing modules cannot be taken in conjunction with the SIIM (Wealth Management) to achieve the SII Diploma. Specifically, a candidate:
• Cannot take Financial Markets with Interpretation of Financial Statements or Investment Analysis to achieve the SII Diploma
• Cannot take Portfolio Construction Theory with Fund Management or Private Client Investment Advice & Management to achieve the SII Diploma
• Cannot take Applied Wealth Management with Private Client Investment Advice & Management to achieve the SII Diploma.
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SII Masters Exam Entry Form
The existing modules that can be taken with the new SIIM (Wealth Management) modules to achieve the SII Diploma are represented in the table below:
New SIIM (Wealth Mgt) Unit: Financial Markets Portfolio Construction Theory Applied Wealth Management Can be taken with SII Diploma modules: Bond & Fixed Interest Markets Bond & Fixed Interest Markets Bond & Fixed Interest Markets Corporate Finance Corporate Finance Corporate Finance Financial Derivatives Financial Derivatives Financial Derivatives Fund Management Global Operations Management Fund Management Global Operations Management Interpretation of Financial Statements Global Operations Management Management Studies Investment Analysis Interpretation of Financial Statements Private Client Investment Advice & Management Management Studies Investment Analysis Regulation and Compliance Regulation and Compliance Management Studies 
Regulation and Compliance
Transition arrangements from the SII Diploma to the SIIM Programme:
As part of the development of the new programme, there will also be a lengthy transition period in order to give candidates every opportunity to achieve the SII Diploma using existing modules. For further information, please see the Private Client Investment Advice and Management section of the SII Diploma webpages.
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