Certification's goal
The European Financial Planner® (EFP) is the highest level of certification. It concerns the financial planning activity as a whole.
Outside Europe, this certification is providing under the label International Financial Planner® (IFP) certification. The certificate is adapted to local constraints.
Target audience
That certification offers a training Integrated practice of financial planning including investments at portfolio level, estate planning, international taxation, retirement and insurance needs not only for private clients but also for business owners.
Duration
The educational programs should be covered in a minimum of 21 classroom days or 168 tuition hours (or equivalent), after EFA or IFA certifications.
A private equity or venture capital fund is typically open only to accredited investors and qualified clients.
Accredited investors and qualified clients include institutional investors, such as insurance companies, university endowments and pension funds, and can also include high income and net worth individuals.
For this population, MiFID II rules will require the client assessment questionnaire to allow investment in these asset classes. The client's investor profile will therefore have to allow investment in such products.
Secondly, it is your firm's distribution policy that will have to allow this asset class in your client's investment profile.Normally it should aligned with the client assessment process.
Finally, the AIFM rules will impose a minimum investment of €125,000, which is found in all private equity fund prospectuses.
The Asset Manager of the fund, or its Management Company (ManCo) must probably confirm they accept the subscription of your client. For this, they will probably ask for documentation, also for AML issues.
EFPA Luxembourg