LIBF recognises practical investment planning qualification as 'eligible specialist unit' Part of advanced diploma The London Institute for Banking & Finance (LIBF) and Practical Financial Exams have recognised practical investment planning (PIP) as an eligible specialist unit for its advanced diploma in financial advice. To complete the advanced diploma, which LIBF said is one of the most respected qualifications in financial planning, candidates must complete four units. These are, taxation, trusts and tax compliance; managing investments; pension transfer or financial planning in retirement; and a specialist unit. PIP may be taken as the specialist unit. Related articles LIBF head of financial services John Somerville said: "Investment planning is an important skill for any adviser, but particularly for those with clients who have more complex needs.