A bit of a punt…

The Financial Planning Institute (fpi) is the only local intermediary organisation where membership qualifications are also recognised for accreditation as financial planners and advisers in terms of FAIS, says Sakkie van de Merwe, executive director of f

This developmentfollows on agreement being reached with INSETA whereby the fpi has been accredited as a provider of education and training in the sector as well as assessors of the sector’s Education and Training Quality Assurance (ETQA), says van de Merwe.

Added to which INSETA has confirmed that the fpi will conduct the formal assessment and moderation of the learning programmes towards the fpi board assessment which will give the qualifying learners Registered Financial Planner(RFP) and Associate Financial Planner(AFP) status.

These examinations are written by all applicants prior to joining the fpi and determines the level of membership. The fpi qualification allowing financial planners to join as RFP has been accredited on a NQF 4 level.

This is the entry level for fpi membership. The fpi examination allowing Associate AFP membership has been accredited on a NQF 5 level.

The highest level of fpi membership is theCertified Financial Planner (CFP).

This is an internationally recognised competence certification for financial planners and the post-graduate qualifications have been accredited on a NQF 7 level.”

In terms of this accreditation, financial planners who qualify to become fpi members either qualify totally or in part to be registered in terms of FAIS, says van de Merwe.

“Members who have passed both board assessment examinations as well as those with qualifications to be certified a CFP will have the full 60 credits needed to register in terms of FAIS.”

In addition to the current academic qualification routes offered by the fpi, further courses are being planned in association with the University of Port Elizabeth and the University of Stellenbosch to come on stream in 2005, says van de Merwe.