School launched

24 February 2005 Angelo Coppola

Momentum has launched their Financial Adviser School, aimed at enabling previously disadvantaged South Africans to launch careers as professional and qualified, independent financial advisers (IFAs).

The IFAs will then be able to return to their communities and offer financial services and support to those previously exempt from the means and mechanisms of planning their future financial stability and sustainable prosperity.

Says Hillie Meyer MD, “At Momentum, our approach, commitment and enthusiasm for this project can be summed up by two of our core philosophies: “We believe in people who believe in themselves” and “Making a success of life”.

“We hope that these ideals will inspire and motivate students to create successful and prosperous careers in the financial services industry”.

The course consists of a two-year Momentum Insurance Sector Education and Training Authority (Inseta) learnership, which will equip young entrepreneurs with the skills and confidence to start their own or contribute to financial broker houses and businesses.

Selection Criteria

Learnerships are awarded strictly on individual merit with personal motivation and commitment featuring strongly.

Other requirements include being 25 years or over, unemployed (self or temporarily employed), financial degree/diploma with Matric Mathematics, high English efficiency and importantly a positive, confident attitude.


The programme starts with one year of theoretical training, with additional preparation for the Financial Planning Institute examination. Students will simultaneously acquire PC skills and be required to take related courses to prepare them as financial advisers.

To gain essential, practical experience, students will work at FNB Brokers and the Momentum Agency. They will start earning commission after 15 to 18 months.


Successful students will receive a level five on the NQF in wealth management (Intermediary Long-term insurance category C) and write the FPI Association examination. Momentum is an accredited training provider.

This initiative is in addition to Momentum’s Graduate Development Programme, which trains graduates who want to embark on a career in financial services.

“There is a definite need to develop better relationships and an understanding in formerly disadvantaged communities – to ethically and confidently provide access to the benefits of financial services.

“We feel that the best way to achieve this is to provide opportunity - to empower a new, bright generation of professional and qualified advisers – to organically grow new markets, for the benefit of all,” says Zethu Msindo, Head Sales Development at Momentum.

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