FISA launches high-level fiduciary exam
Louis van Vuren of FISA who leads the initiative said that the designation will ultimately carry the equivalent weight as the CFP designation for financial planners.
“The exam is being trialed in November this year with a limited 100 candidates. But as numbers grow, the FPSA designation will signal to the public that they are dealing with a practitioner who meets the highest possible standards in theprofession,” said Mr van Vuren.
The four-hour examination will be conducted through the Centre for Financial Planning Law (CFPL) at the University of the Free State, whose director, Advocate Wessel Oosthuizen, has assisted FISA with the framework and structure.
The examination covers the following:
* A compulsory module covering the legal and ethical framework and environment; and
* A choice of two of the following areas of speciality within the fiduciary environment: Estate Planning, Will Consultation and Drafting, Estate Administration, andTrust Administration.
Mr van Vuren said: “FISA is dedicated to raising standards in the fiduciary industry. At a minimum, members of the public are advised to consult a FISA member when it comes to will drafting and trusts and estate planning. The public can be assured that practitioners meet rigid minimum standards both with regard to fiduciary competence as well asintegrity and honesty. They also have the necessary administration systems in place to provide a professional service.”
