Way Forward

The first decision you need to make is which of the following to you want to investigate:

Qualification for FAIS Credits

Do you have existing credits towards a qualification or do you need to complete a full qualificaiton for one of the following reasons:

  • Your are a representative or Financial Services Provider and you need to complete this qualification as it is a requirements for you to comply with the education requirements of the FAIS “Fit and Proper”.  You are usually given 5 years from the date you are registered with the FSB to complete this educational requirement.
  • You are new to the industry and do not need to meet the fit and proper requirements at this stage but you would like to make a start on a meaningful education to become a more proficient and qualified professional.

Skills Program Credit Bearing and CPD( Continuing Professional Development)

You may have a qualification which may make you “fit and proper” at this stage but you would like to specialise in one of the following areas to become more effective and competent. You would also like this program to be awarded credits which will build into a formal qualification at a later stage if required.

Once you have completed your Educational requirements and all the regulatory Exams you will need to enrol in programs every year to meet the CPD or Continuing Professional development Needs to remain fit and proper.

FPI members already need to attend programs to meet their CPD requirements of the professional body as well as the FAIS Act and these skills programs can also be used to achieve these CPD credits for FAIS or FPI.  these programs are also designed to provide an introduction to the new level 6 QCTO prrogram being registered with SAQA at the moment. The launch of this new program is planned for early 2019 but learners could start on preparing for this by completeing one of these credit bearing skills programs:

The areas you could attend a skills program are:

Level 5 skills programs:

  • Introduction and FS Environment
  • Risk and Risk Mitigation
  • Basic FNA and Sales
  • Wealth Management
  • Short-term Insurance
  • Health Care benefits

Level 6 skills programs:

  • Business Insurance
  • Advanced Investment Planning
  • Employee Benefits
  • Estate Planning
  • Collective Investments

Skills Programs – non credit bearing

You have your basic qualification required by the FSB to be considered fit and proper and you want to develop knowledge and skills to make you more effective in your career and do not need to achieve any further credits.

You would use one of the following programs:

  • Any of the Skills Programs Credit-bearing can be completed without completing the requirements to be awarded credits and just to develop knowledge and skills.  This is not recommended but can be done due to the requirement for CPD discussed above.
  • Sales Skills
  • Social Styles and Client Care
  • Targeting the Right Clients
  • Presentation Skills
  • Speed Reading
  • Marketing And Marketing Management
  • Management Skills
  • Personal Development Plan
  • Time Management

Regulatory Examination Preparation

If you have completed your educational requirement for fit and proper the representative or financial services provider will need to attend and pass a range of regulatory exams. RSC offers facilitated workshops and eLearning programs to help prepare for the following regulatory exams:

  • RE 1 For Key Individuals and Financial Service Providers
  • RE 2 for Representatives

The second phase of regulatory exams for specific product group or license areas was postponed by the FSB and now replaced by Class of business training.

Class of Business Training

From August 2019 new advisers will need to complete this training on their generic industry situation before they are allowed to interact with clients. Ths training must be done by a registered training provider and RSC will be offering these programs through eLearning, self-study and face to face training, following our blended learning approach:

  1. Short term insurance – personal lines lines
  2. Short term insurance – commercial lines
  3. Long Term insurance and personal pensions
  4. Pensions and employee benefits
  5. Investments
  6. Long and short-term banking deposits
  7. Forex
  8. Healthcare – in conjunction with IHRM