With the high net worth sector in Asia-Pacific expanding rapidly, the Insurance and Financial Practitioners Association of Singapore (IFPAS) has collaborated with their international education partner and course developer, Kaplan Professional Australia, to deliver the highly-regarded High Net Worth (HNW) Certification programme

The HNW Certification was designed and developed in Singapore for the Asia-Pacific wealth management market, leveraging local and global best practice. The programme is designed to equip practitioners with the knowledge and expertise to provide quality financial advice to high net worth individuals. It also provides a practical roadmap for future business success in a dynamic and ever-changing environment.

The HNW Certification is accredited by the Institute of Banking and Finance (Singapore) under the IBF Skills Framework for Financial Services Level 2 and Level 3. It is a purpose-built programme for existing financial planners, insurance agents and bancassurance specialists to be recognised as a Senior Financial Planner within the IBF Skills Framework.

IFPAS President Mr. Carlos Lee said IFPAS believes practitioners should strive to meet the highest personal and professional behaviours to meet community expectations and enhance the reputation and credibility of financial advisers.

“Practitioners and executives admitted to the HNW Certification share the same attitudes and commitments as IFPAS towards championing professional standards and higher education achievement.

“The philosophy underpinning this executive education programme is founded on the following principles – deep technical knowledge, emotional intelligence, and digital capability and engagement.

“The HNW Certification represents the pinnacle of achievement, providing formal recognition of the highest standard of competence and skill within the financial advice discipline.

“It was important for IFPAS to partner a high quality international education provider. Kaplan Professional Australia has an outstanding reputation in that country and globally,” he said.

Kaplan Professional Australia Chief Executive Officer Mr. Brian Knight said there was significant demand for quality financial services education programmes in Asia-Pacific tailored to the high net worth market.

“We know Asia-Pacific is the largest global high net worth region and this wealth is expected to surpass USD $42 trillion by 2025. This means there is a growing need for advisers to solve increasingly complex problems for their clients and family offices.

“The HNW Certification presents a unique opportunity for the benefit of Singaporean consumers and the Asia-Pacific high net worth market.

“As Australia’s leading provider of financial services education, we are pleased that IFPAS has engaged us as their international partner and course developer. It will enable us to focus on what we can bring to the Asia-Pacific market in regard to the quality of education we deliver,” he said.

Practitioners will significantly benefit from a peer-driven and blended learning model that this programme is based on, according to Mr. Knight.

“The HNW Certification encompasses six subjects and is delivered through a sophisticated and blended learning approach. Lectures are delivered by international and local practitioners and these are complemented by first-class online resources, case studies and access to international academic libraries and industry publications.

“There are six annual intakes each year, which means practitioners have the flexibility to plan their studies to suit their work and personal commitments,” he said.

The six subjects in the HNW Certification are:

  1. Private wealth and family office: environment, trends and client focus
  2. Business structuring and tax considerations (including beyond borders advice)
  3. Estate planning strategies for high net worth individuals and family offices
  4. Insurance solutions and asset protection for high net worth individuals
  5. Private wealth investment strategies and portfolio construction
  6. Applied business strategy for high net worth individuals and family offices

Participants should have a minimum of three years’ relevant industry experience in insurance, wealth management and private banking roles within the financial services industry.

Corporate cohorts are welcome and can be arranged to suit an organisation’s requirements. The total programme fee is SGD $7,500.

IBF-STS enhanced funding is available for eligible participants

The enhanced funding rate is up to 95% of the total programme fee prior to 30 June 2021 and 90% from 1 July to 31 December 2021.

Visit https://hnwcertification.com/to sign up.

IFPAS and Kaplan Professional Australia partner to launch new certification in Singapore for financial advisory practitioners

22 January 2024

In an exciting development for Singapore’s financial advisory profession, the Insurance and Financial Practitioners Association of Singapore (IFPAS) has partnered with its international education partner and course developer, Kaplan Professional Australia, to launch the new Fellow Chartered Financial Practitioner (FChFP) Certification in Singapore.

On completion of the programme, individuals will be awarded the prestigious FChFP designation by the Asia Pacific Financial Services Association (APFinSA) – the largest financial services council in the Asia-Pacific, comprising of nine member countries.

The highly regarded programme has also been accredited by the Institute of Banking and Finance (Singapore) (IBF) under the IBF Skills Framework for Financial Services Level 2 and Level 3.

With significant input from experienced local and international industry practitioners, the client-centred design of the FChFP Certification will enable financial practitioners to further develop emotional intelligence and interpersonal skills to authentically communicate financial advice in a way that their clients can relate to.

Financial practitioners will also enhance their understanding of behavioural finance and investor psychology, helping them to build rapport and empathise with their clients to empower them to make better financial decisions.

The FChFP Certification’s focus on professional excellence, technical expertise and applied practice development makes it especially pertinent for financial practitioners who may not yet hold a professional designation, or those who are seeking to elevate their career and make the most of the opportunities presented by Singapore’s global status as a wealth management hub.

IFPAS President Mr. Sim Willing said the new FChFP Certification was a groundbreaking moment and presented exceptional advantages for all financial advisory practitioners in Singapore

“The FChFP Certification is not just a symbol of achievement; it is a mark of excellence that will elevate financial practitioners’ careers to new heights.

“With the financial industry’s continual evolution, staying ahead of the curve is paramount; the FChFP Certification provides financial practitioners with the knowledge and skills needed to excel in their current role, while positioning for exciting career advancement opportunities.

“As we launch the new FChFP Certification in Singapore, let us collectively embrace this opportunity to raise the bar, and contribute to the continued growth and success of our profession,” he said.

IFPAS Vice President of Education Mr. Tan Seng Chuan said with Singapore leading the way in wealth management, financial practitioners play an important role in helping clients to achieve their financial goals.

“In an ever-changing financial landscape, it is paramount that financial practitioners continue to upskill and deepen their technical knowledge and skills.

“In partnership with APFinSA and Kaplan Professional Australia, IFPAS is committed to raising the credibility and standards of our financial practitioners with professional education and skill development.

“With the launch of the new FChFP Certification, we hope to equip financial practitioners with the knowledge, skills and experience to effectively navigate the intricacies of financial planning, investment management and client relationships to add more value to their clients,” he said.

Kaplan Professional Australia CEO Mr. Brian Knight said the new FChFP Certification presented significant opportunities for both financial practitioners and Singaporeans.

“Singapore and Asia-Pacific more widely has become a global wealth hub, with this upward growth fuelling demand for highly skilled financial practitioners who are not only equipped to help their clients achieve their financial goals, but also to extract multiple opportunities from current sector trends.

“With international recognition from all of APFinSA’s nine-member countries, the FChFP Certification demonstrates financial practitioners’ ability to uphold APFinSA’s rigorous competencies and dedication to best-practice standards.

“This is a great calling for financial practitioners to meet future client expectations by presenting financial advice strategies that are tailored to their needs, confidently building rapport to ensure trust and value is aligned with the increased financial literacy of consumers today,” he said.

The FChFP Certification consists of five core subjects and takes between six to 12 months to complete, with the expectation that most participants should be able to complete the programme in six months:

  1. FChFP1: Principles of Financial Planning
  2. FChFP2: Wealth Creation and Retirement Planning
  3. FChFP3: Estate and Succession Planning
  4. FChFP4: Personal and Business Insurance
  5. FChFP5: Client Engagement and Financial Planning Practice

The programme encompasses face-to-face and online components in a peer-to-peer learning environment. Lectures are delivered in-person by industry experts and are complemented by first-class online resources, case studies and access to international academic libraries and industry publications.

There are five annual intakes and corporate cohorts are welcome. The FChFP Certification is approved for IBF-STS enhanced funding for eligible students and has been accredited by the IBF under the Skills Framework for Financial Services. This means those who commence the programme between 1 January 2024 to 31 December 2024 can take advantage of funding of between 50 to 70 percent per subject.

On completion of the FChFP Certification, financial practitioners will also be eligible for a pathway into the High Net Worth Certification to further enhance their value proposition to high-net-worth individuals.

To celebrate the launch, the SGD $300 registration fee will be waived for financial practitioners who enrol in the first intake of the programme.

The first intake of the FChFP Certification starts on 11 March and enrolments are open now.

More information and interviews with Mr. Sim Willing, Mr. Tan Seng Chuan and Mr. Brian Knight are available on request. To arrange, please contact IFPAS or Kaplan Professional Australia’s media contacts:

Katharyna Guru
M: +65 9725 7234
E: pr@ifpas.org.sg

Kaplan Professional Australia
Vicky Labroski
M: +61 407 009 166
E: vicky.labroski@kaplan.edu.au

Tom Baldwin
M: +61 407 029 666
E: tom.baldwin@kaplan.edu.au

Since 1969, the Insurance and Financial Practitioners Association of Singapore (IFPAS) has been the leading professional association for financial advisers. IFPAS represents the interests of its members on legislative, regulatory and policy-related matters. IFPAS’ role is to advocate, innovate and inspire on behalf of itss members to advance the financial advice profession’s social contribution and positively shape consumers’ perceptions of the financial services industry.

About Kaplan Professional Australia
Kaplan Professional Australia is a leading provider of financial services education. Delivering services to over 45,000 industry professionals each year, Kaplan Professional Australia is at the forefront of practical and relevant education in the country. Kaplan Professional Australia’s progressive and customer-focused approach has cemented our reputation as the trusted corporate partner to many major institutions in Australia and Asia-Pacific. For more information, please visit: www.kaplanprofessional.edu.au