Back by popular demand here is the second blog packed full of more tips and advice from CFP professionals who have recently passed the CISI Level 7 case study financial plan assessment: the final step to becoming a CFP professional in the UK.
All this feedback comes directly from paraplanners and planners who have attended one of Lockie Consultants courses and were interviewed on our podcast, Your Financial Planning Maestro. To listen to the full podcast episodes search “Your Financial Planning Maestro” wherever you get your pods. There are 12 series for you to dive into.
1. Manage your time and break the process into chunks:
A recurring theme in our podcast interviews was time management; planning early, setting a schedule to ensure you don’t get overwhelmed, and not leaving tasks to the last minute.
Our interviewees found it easier to progress by breaking the workload into smaller, manageable sections.
I know that I go on a lot about this and it is borne out by our interviewees too. Some listened and planned and still found there were times when they felt overwhelmed but quickly realised that they had time on their side to pause and think things through. Others didn’t plan their time well and struggled to submit anything coherent especially for their first submissions.
2. Plan and Stick to a Timetable:
• Create a clear study schedule as soon as you receive your case study. “Don’t underestimate the time it takes. Start from day one.”
• Treat it like a serious commitment — schedule consistent study blocks and stick to them. “A timetable is key. Plan it in advance of the course and keep to it.”
• Be persistent and consistent! Keep up momentum by working “little and often.” Avoid long breaks so you don’t lose focus or must re-learn what you’ve done
• Avoid leaving sections to the last minute.
• Set boundaries at home and communicate your study needs to family members and friends; you won’t see then for ten weeks!
3. The standard is totally different to what you might be used to from the CII:
Don’t be fooled, the objectives that you're expected to meet in this case study is of a high standard. Ensure that you familiarise yourself with the candidate guidance and L7 case study assessment criteria. Most don’t and lose easy marks that could have made a difference between them passing and failing.
4. The foundation of your plan is the cashflow which is based upon the assumptions:
Don't open word to do any report writing or plan anything until you are 100% happy with every assumption, that you back tested it, forward tested it, checked it, and that you're happy with every calculation you've done. Don’t try and shoehorn your preconceived ideas or recommendations into the spreadsheets. Let the numbers do the talking. I always say, “ The numbers are what the numbers are!” I guarantee that your initial thoughts or recommendations planned before you started your spreadsheet WILL NOT hold up once your numbers do the talking.
5. Be decisive and keep moving forward:
It is easy to go down lots of rabbit holes. You need to minimise time wasted by regularly making decisions and then stop second-guessing yourself about whether it was right or wrong. Just make it and move on.
6. The first-time pass rate is very low so take it seriously:
One interviewee put it like this, “I'd have failed a second time if it wasn't for the help I got. Whilst I did get 44% on my first submission (overall pass mark is 65%), I think I was still miles off passing. I describe the case study like a ball of yarn; pulling the little thread created more problems and going back to basics with Jackie and really focusing on the calculations worked wonders. But also, Jackie is a great sounding board. I used her expertise to help; particularly with spreadsheets she’s a bit of a whiz with those. It gives me an incredible sense of pride when I look back and think wow, I did those spreadsheets.”
7. Manage Your Environment and Mindset:
• Set up a quiet, dedicated workspace with minimal distractions.
• Use simple, tried-and-tested tools (like Excel, not complex software).
• Take breaks to clear your head and return with fresh eyes.
• DON’T USE CASHFLOW SOFTWARE! It was no designed for the purpose of meeting the international CFP standards. You will inevitably end up de-constructing your cashflow into a spreadsheet to unequivocally prove how EACH of the clients’ objectives are met. Your cashflow software cannot do that (no matter how hard you try!)
8. Get Support and Use Available Resources:
• Reach out to mentors, other CFP professionals and CISI Accredited Training Partners. Search ATPs on the CISI website for a list who can help you.
• Use structured guidance, courses, or professional coaching.
• Use CISI Professional Refreshers to top up any knowledge gaps (they’re free).
• Listen to related podcasts to ensure you understand other people’s experiences and not make the same mistakes as they did.
You can also find a wealth of further tips, support and interviews with those who have completed their
Certified Financial Planner certification by giving our podcast a listen.
