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DipFA vs DipPFS - YouTube
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in this video i'll be covering the
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differences between the two main diploma
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qualifications
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dipfer and dip pfs
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so firstly what is dipfer
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dipfer stands for the diploma for
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financial advisors and is a
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qualification we have covered here at
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premiere job uk
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both in our blog and our youtube channel
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the links to both will be in the
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description box below for you to be able
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to check out
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and i'd recommend reviewing these
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because they go into more depth about
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the qualifications specifically
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as we've created content on um a guide
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to differ
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and how to revise for dipfer and so they
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can be really helpful if you are
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interested in learning more about it
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but in a nutshell dipfer is a level 4
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fca approved qualification
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required to provide professional advice
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on retail investments and is broken down
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into two units
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so first you've got unit 1 which
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commonly is known as the financial
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services
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regulations and ethics or abbreviated to
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fsre
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it's a two-hour objective exam
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comprising of 90 multiple choice
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questions
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with then two case studies at the end
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which also have five multiple choice
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questions
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then you move on to unit two which is
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called the advanced financial advice
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or abbreviated to afa and that consists
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of two parts itself
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a coursework and a written exam for the
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coursework there's a main
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written assignment and short answer
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questions and then the second part
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is a three-hour written exam based on a
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pre-release fact find
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which is made available six weeks prior
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to the exam being sat
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in terms of the cost of dipfer it costs
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1090 pounds with due to support
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or 990 pounds without tutor support
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through the libf
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and this price includes study materials
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exam and exam entry
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if you need to reset defer or
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resubmit there will be additional costs
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incurred
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there are many benefits to undertaking
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the dip for qualification
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and to name a few these include the libf
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allowing you to study at your own pace
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online you also have various study
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options
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so that you can pick the right one
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that's based on your preferred learning
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style
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then also by undertaking the exam and
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preparing for it
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you'll be enrolled into student
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membership for one year which includes
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multiple benefits
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such as career support guidance access
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to events and webinars from industry
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leaders
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and also being part of the libf
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community and then the final aspect is
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if you successfully complete your dipfer
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you'll be able to use the dipfer
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designation after your name
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to really show off that you have
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achieved that excellent qualification
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that is widely recognized within the
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industry the second main diploma
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qualification is the dip pfs
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so in order for you to obtain the dip
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pfs you need to undertake a number of
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different unit modules
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that total 140 credits to give you the
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status of
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dip pfs now these unit modules are made
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available through the cii
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through their personal finance
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qualifications framework and they offer
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37 different unit modules in total for
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you to select from and those do include
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unit modules from the diploma in
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regulated financial planning
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and the advanced diploma units as well
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so in terms of the
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cost of obtaining pfs it can vary
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widely in terms of which unit modules
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you take
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but this typically costs around 1 109
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pounds
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to 1 512 pounds again depending on the
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modules you take and also whether you're
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a member or not
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this is something we covered in a
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previous blog in terms of the different
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routes to become a qualified financial
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advisor
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so check the description box below
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because there'll be a link to that for
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you
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much like the dipfer there are varied
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benefits of studying a dip pfs and to
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name a few these include the fact it's
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got a very flexible
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uh approach through selecting the
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different modules by selecting the
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modules you'll typically
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revise and sit an exam at a time now
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obviously you can
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undertake more at the same time but most
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commonly people do it
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consecutively and so undertaking each
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exam
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gives you a real focus on that topic
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and once you then pass that exam you
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move on to the next one you study for
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that you move on to the next one
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so it can really help people who
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struggle to
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absorb a lot of information in one go
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also in terms of if you are successful
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in obtaining the
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pfs qualification much like the dipfer
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you can use that designation on this one
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you'll use the dip pfs designation after
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your name
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to demonstrate the knowledge you've
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obtained the technical capability
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and also your ongoing commitment to
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professional development
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not only with the pfs have you got the
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designation of those
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letters but also through their mutual
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recognition agreement with the european
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financial planning association
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you'll also be able to use the efa
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designation
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if you desire also another benefit of
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studying through the cii
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for the dip pfs is you'll have access to
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the cii's
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wide library of resources
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financial planning publications reports
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and documents that really can help you
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in your study for your exams
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but also your wider awareness of the
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financial planning industry
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what is the difference between dipfer
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and dip pfs
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so in the long term there are no
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differences between the
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two qualifications that would make one
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more recommended
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as a general rule of thumb over the
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other
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ultimately they get you to the same
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destination which is becoming diploma
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qualified
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which is the right step in your career
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should you want to become a financial
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advisor
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or a qualified power planner as we
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discussed earlier on in this video
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the main differences between the dipfer
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and dip pfs would be the
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structure of the exams with the diphther
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you have unit one and unit two
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so in fsre it is multiple choice exams
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and then the unit two you've got the
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coursework and the written exam as well
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that's in two units you then become
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diploma qualified
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so if you feel that approach is relevant
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to you
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then fantastic whereas the pfs
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to obtain 140 credits you normally need
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around about
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six different unit modules to obtain
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those credits
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and so you'll be able to do a much more
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focused approach
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such as if you do the ro1 through to r06
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exams you'll have certain topics you
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need to study for
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so if you feel that approach is for you
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then fantastic as well
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in terms of whether you should go with
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dpfs or dipfer
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this answer really comes down to a
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personal circumstance
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i would not recommend one over the other
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as a general rule of thumb
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unless i knew about your personal
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circumstances
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and the first one is if you started uh
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work towards either
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then you should most definitely go with
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that you're already on the right track
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to continue don't dwell and think maybe
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i should change continue on the path you
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are
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unless you feel it's not working for you
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you may need to re-evaluate
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the next part in terms of whether you
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should go with pfs or dipfer
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is also in terms of the personal
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circumstances of the cost
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or how you feel you'd manage the study
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towards it around your work and personal
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commitments
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but just again to stress they do get you
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to the same place of that diploma
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qualification
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so one is not better than the other and
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my last piece of advice would be not to
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overthink or over analyze this decision
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i do think for some people this could be
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a case of analysis paralysis
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which we did cover this subject in more
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detail so see the description box below
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with a blog on this subject if you do
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have any questions
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please feel free to get in touch with us
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or drop a comment down below
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because as you'll notice from other
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videos we do respond to
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all comments and if this content is
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helpful to you
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please do like and subscribe because it
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means a massive amount to us
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and is something we are wanting to make
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sure we continue to deliver
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the right support and knowledge to you
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you
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