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Sunday, October 1, 2006
Getting ahead

With training for the 30 and 60 credits required by the Financial Advisory and Intermediary Services (FAIS) Act well on its way, the focus is moving to the next stage, obtaining the “full qualification.”

Although the deadline to obtain this has not yet been announced by the Financial Services Board, Intec School of Insurance launched the necessary this August so that financial advisers can start right away toward achieving the necessary qualifications in stages.
Says Nikki Wouterse, CEO of ICG Learning Solutions, “For advisers who have already started their studies they can also take a range of ‘top up’ programmes to obtain the balance required towards this full qualification. These can be customised to accommodate a wide range of previous learning already attained.”
To this end Intec has extended its learning programmes to assist advisers in completing and/or achieving the following full qualifications:
• National Certificate in Financial Services Wealth Management, National Qualification;
• Framework (NQF) levels 4 and 5;
• National Certificate in Risk Management NQF level 4;
• National Certificate in Short Term Insurance NQF level 4;
• Further Education and Training Certificate (FETC) in Retail Insurance;
• FETC in Short Term Insurance; and,
• FETC in Long Term Insurance.

She points out that Intec School of Insurance always encourages learners to complete their studies at the institution where they started. But if that is not possible, it is able to step in and provide the appropriate programme to ensure an adviser achieves his/her full qualification.
An example of this would be the current learners of the College of Insurance who have completed their COP or ICIBS. Intec has developed programmes that will enable these learners to obtain the full qualification required. Another example concerns those who have completed the UNISA/Damelin Recognition of Prior Learning (RPL) qualification and now want to work towards their full qualification.
“Full qualifications” are broken into four to five skills programmes (SPs), with each SP consisting of two subjects that equal no less than 30 credits if completed successfully. Each SP consists of two formative assessments (assignments) and two 2-hour exam papers (summative assessments).
To urge the industry to enrol for FAIS training and to make training more affordable, INSETA (Insurance Sector Education and Training Authority) has made a 40% subsidy available for advisers who study through Intec School of Insurance.
The subsidy is easy to access with no application or approval delays. Advisers can simply pay Intec School of Insurance 60% of the course fees, while the learning institution will take care of the rest.
If your company has less than 50 employees, you are also eligible to apply for the same subsidy from INSETA.
Therefore, the costs for the full qualification ranges from R 4 350 to R 7 250, reduced to R2 610 to R 4 350 with the INSETA subsidy. The cost of a single 30-credit skills programme is R 1 450, reduced to R870 with the subsidy. All prices include VAT but exclude external venue costs, where required.
Advisers can start to enrol right now for the balance of their qualification, or their full qualifications. For more information, including enrolment please contact Intec School of Insurance on 0860 10 40 14.

Copyright © Insurance Times and Investments® Vol:19.5 1st October, 2006
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