Advanced Financial Analysis

This one-year MSc in Advanced Financial Analysis is designed to give you the specialist knowledge and skills that you will need for a career in investment management or financial analysis and to help you acquire the prestigious Chartered Financial Analyst (CFA) Level 2 qualification. 

The programme consists of two elements. The first comprises eight taught modules, spread over the first and second terms. These modules, delivered jointly by Lancaster faculty and Fitch Learning’s professional instructors, are designed to cover the material you will need for the core CFA Level 2 syllabus relating to investments and financial analysis. Additionally, you will take the Personal Development for Careers in Finance module.

The second element of the programme is a specialist CFA dissertation stream which runs in the third term and through to September and includes:

• an intensive CFA training module preparing for the CFA Level 2 exam in June

• a dissertation project focusing on investment management

Term 1

In your first term from October to December, you will take four modules including the top three below, and a choice of either Regulation and Compliance or Quantitative Methods for Finance. 

If you are accepted onto the course without CFA Level I, you will need to register for the CFA Level I exam in December before the start of the programme. You will study the "Topics in Professional Financial Analysis" module rather than Regulation and Compliance to prepare you for your CFA exam.

Running alongside these modules is a two-part module on Personal Development for Careers in Finance, looking at Communication and Client Management. You will also complete intensive non-assessed training on financial databases.

• Fund Management
• Financial Modelling and Analysis
• Programming and Databases for Financial Applications
• Regulation and Compliance
• Quantitative Methods for Finance
• Topics in Professional Financial Analysis
• Personal Development for Careers in Finance

Term 2

During your second term from January to March, you will take the below modules.

• Advanced Financial Markets and Investment Management
• Advanced Financial Reporting and Analysis
• Advanced Investment Risk Management
• Advanced Investment Research Methods

Term 3

The final module, Advanced Topics in Fund Management and Investment Analysis, includes both intensive training by Fitch Learning to prepare you for the CFA Level II exam in June, and a Capstone project that forms the basis of your Masters dissertation. This project enables you to look in depth at an area of investment management practice of your own choosing. The dissertation is linked to CFA Level II and you will have supervision from Lancaster faculty. Dissertations are submitted in September, and graduation takes place at Lancaster in early December. 

If you do not pass the CFA Level I exam in December, you will not study for CFA Level II and will take an alternative dissertation module instead of Advanced Topics in Fund Management and Investment Analysis.

Undergraduate Degree: 2:1 (UK Hons) degree or equivalent in Finance or Accounting. If CFA level I qualified:  Economics, Business Studies, Mathematics, or another business-related or quantitative subject such as Engineering and Computing.

Professionally qualified accountants with good examination results can also be considered.

• IELTS: Overall score of at least 7.0, with no individual element below 6.0.
• ToEFL iBT: Yes - 93 or 100** overall. Minimum of 20 or 22** in each skill
• Pearson PTE Academic: Yes - 62/70. Minimum scores in each component required. Please check with the Faculty Admissions Team
• Advanced CAE: Yes - Grade C