Roll Up. Roll Up. Get educated before it's too late
Less than 10% of potential authorised financial advisers (AFAs) have registered for an important national roadshow that provides an opportunity to prepare for competence assessments leading to authorisation.
Tuesday, September 21st 2010, 1:28PM
by Jenha White
The Institute of Financial Advisers (IFA) is running a series of workshops starting this week which are also open to non-members, to assist with preparation for the introduction of the Code of Professional Conduct.
ETITO is taking part in the workshops to provide advisers with specific information that will assist their preparation for the Standard Set B examination and Standard Set C assessment.
Securities Commission director supervision Angus Dale-Jones says he strongly encourages advisers to go to the roadshows.
"Our message is simple: advisers must take action now or else they risk not being authorised on time."
ETITO's manager of corporate relations and strategy Michael Frampton says the workshop has detailed information about what advisers should expect in the examination and assessment processes for Standard Sets B and C, and how they should focus their preparation.
"It's disappointing that more advisers haven't taken up this tailor-made opportunity. It's particularly concerning if this reflects a broader apathy within the industry about preparing for the new regime," says Frampton.
IFA chief executive Peter Lee says overall advisers are not proceeding as far down the track as they need to be.
"The big issue is that advisers may run into a log jam, ETITO is the main assessor of competence and we don't want there to be too many people wanting to be assessed within two or three months."
He suggests advisers register for the roadshow, come along for four hours, get CPD credits and all the info they need to complete standard Sets B and C.
Under the new financial services regulatory regime, financial advisers are required to be authorised by 1 July 2011, a process which requires advisers to satisfy minimum standards of competence.
For more information and to register for the IFA 2010 Code Cracker Roadshows visit Diary page
For further information and to register for assessment visit www.afacompetence.org.nz.
Jenha is a TPL staff reporter. jenha@tarawera.co.nz
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