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Hero_image.jpgIBF Connect (Financial Planning) 2016 - New Competency Frontiers of Financial Planning

Industry Launch of IBF Standards for Financial Planning

22 April 2016

The Institute of Banking and Finance Singapore (IBF), the national accreditation and certification agency for financial sector competencies, in close partnership with the key industry associations in the financial advisory industry, launched a new set of competency standards for financial planning.

Named the IBF Standards for Financial Planning, it provides a structured professional development roadmap and certification pathway for financial advisers (FA). These new Standards are also mapped against existing professional qualifications offered by these financial planning bodies.

A Roadmap for Professional Excellence

The  IBF  Standards  for  Financial  Planning  are  the  result  of  an industry  partnership  among the key industry associations in the financial advisory industry. This represents the first time that the financial advisory industry hascome  together  to agree  on  a  common  set  of competency standards  for  the industry.

The IBF Standards for Financial Planning provides a comprehensive competency roadmap for financial advisers. Besides  covering  core  skills  in constructing holistic  financial  plans  and  developing deep technical skills relating to cash management plus insurance, investment and retirement planning, the IBF  Standards  for  Financial  Planning  introduces several  new competency areas in  guiding an FA’s professional development:

  • Financial Planning for High Net Worth Individuals - Analysis and development of bespoke insurance and investment solutions for High Net Worth Individuals
  • Financial Planning for Business Owners – corporate financial statement analysis, business ownership implications on personal income and wealth
  • Management of FA representatives - using a BalancedScore  Card approach in performance  management,  coaching  of  FA  representatives  to  ensure  quality  of financial advice, risk monitoring and control procedures to  ensure high standards of professionalisms
  • Ethical   principles   in   financial   advisory   process - client   data   protection, management of conflict of interest, transparency and disclosure.

IBF Standards for Financial Planning (Infographic)

This infographic explains the career pathways in Financial Planning based on the IBF Standards.

Press Release

Get more details about the IBF Standards and the support from the industry.

IBF launches new skills roadmap for financial planning industry

Keynote Address

Read the keynote address by Ms Merlyn Ee, Executive Director, Capital Markets Intermediaries I, Monetary Authority of Singapore, at the launch of the IBF Standards.

Scaling New Heights - Building New Competencies for Tomorrow

IBF Connect (Financial Planning) 2016 - New Competency Frontiers of Financial Planning

Industry Launch of IBF Standards for Financial Planning

Presentations
1. Speech by Dr. Fong Wai Mun, Associate Professor, Department of Finance, NUS Business School
"The Financial Planning Narrative and the Role of Financial Advisors"

2. Presentation by Mr Damien Ng, Vice President, Head of Retail Distribution, BlackRock Singapore
Investor Pulse, Singapore by BlackRock

Speakers
The speakers at this seminar and their biographies can be viewed here.

Programme
22 April 2016

Time Activity
2.30pm

Keynote Address
Ms Merlyn Ee, Executive Director, Capital Markets Intermediaries, Monetary Authority of Singapore (MAS)                           

Presentation on "The Financial Planning Narrative and The Role of Financial Advisors"            
Dr Fong Wai Mun, Associate Professor, National University of Singapore (NUS)

Dr Fong will discuss on how financial planners can move up the value chain and the standards of competency this requires.

Presentation on Trends of Investor’s sentiments and views in Singapore
Mr Damien Ng, Vice President, Head of Retail Distribution, BlackRock Singapore

In today's low-return market environment pressured by the rising cost of living, Singaporeans express a low retirement sentiment. Nearly three-quarters of Singaporeans are very or somewhat concerned about being able to live a comfortable retirement. To prepare for a better financial future, BlackRock advises investors to adopt the 6 effective habits of SMART investing which includes the value of taking financial planning and advice seriously. Learn more about Singaporeans hopes and concerns about growing wealth and managing investments in today's increasingly complex financial landscape. Join Mr. Damien Ng – Head of Retail Distribution, Singapore – as he shares insights into the investment attitude of the average Singaporean investor, and how investing behaviours differs by affluence and gender.

​​Coffee Break
           

Presentation on "New Competency Frontiers of Financial Planning"
Ms Rachie Hui, Deputy CEO, The Institute of Banking & Finance (IBF)            

           

Panel Discussion
Moderated by Ms Ong Puay See, CEO, The Institute of Banking & Finance (IBF)

Mr Vincent Ee, President, Association of Financial Advisers (AFA)
Mr Joseph Kwok, President, Financial Planning Association of Singapore 
     (FPAS)
Mr Roland Yeo, President Elect, Insurance and Financial Practitioners
     Association of Singapore (IFPAS)
Dr Khoo Kah Siang, President, Life Insurance Association (LIA)     

5.30pm

End of Seminar

IBF Connect (Financial Planning) 2016 - New Competency Frontiers of Financial Planning

Industry Launch of IBF Standards for Financial Planning

22 April 2016

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 Industry Partners

 

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Association of Financial Advisers (Singapore)

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Financial Planning Association of Singapore

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Insurance and Financial Practitioners Association of Singapore (IFPAS)

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Life Insurance Association, Singapore (LIA Singapore)

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Singapore College of Insurance

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Support from the Industry


AXA Life Insurance

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Great Eastern Life Assurance

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IPP Financial Advisers Pte Ltd

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Prudential Singapore

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Applying for IBF Certification

The Institute of Banking and Finance Singapore (IBF) in close partnership with key industry associations in the financial advisory industry, launched the IBF Standards for Financial Planning on 22 April 2016.

IBF has worked closely with FPAS, IFPAS and the Singapore College of Insurance (SCI) to confer the IBF accreditation status on the widely-recognised Certified Financial Planner (CFP) and Chartered Financial Consultant/Singapore (ChFC/S) qualifications awarded by FPAS and the SCI respectively.
 

Icon1.pngIBF Certification for Financial Advisers

The IBF Standards provides a structured certification pathway which facilitates progression into more senior roles.

• For new practitioners, “IBF  Qualified” certification enables a financial adviser to develop foundational knowledge of the financial products, as well as a sound understanding of relevant laws and regulations. Technical skills relating to cash management, insurance, investment and retirement planning will also be covered.

"IBF  Advanced" is targeted at  senior  practitioners who  wish to  attain  more complex skills, such as providing advice on business ownership and estate planning.

  IBF Certification Arrangement before 1 Jan 2018

Holders of the Certified Financial Planner (CFP) and Chartered Financial Consultant/Singapore (ChFC/S) qualifications awarded by FPAS and the SCI respectively, may apply for IBF Certification under this arrangement before 1 January 2018.  Learn more here.

Icon2.pngWhat training resources does IBF offer me?

Explore the IBF Career Roadmap for financial adivsory to plan the next stage in your career.

The IBF Standards for Financial Planning provides a structured professional development roadmap for financial advisers. Career pathways mapped under the IBF Standards include:

  • Financial Planning (Personal)
  • Financial Planning for High Net Worth Individuals
  • Management of F.A. Representatives

 

Icon3.pngBe part of a community dedicated to excellence 

Apply for IBF Certification today. Be part of a growing community dedicated to excellence in financial advisory.

Step 1. Download the IBF Certification Application User Guide. Farmiliarize yourself with the steps in the applicaiton process.

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Step 2. Download the IBF Certification Application Form.  You will need to upload this form to the IBF Portal to complete your application.

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Step 3.  Apply for IBF Certification online via the IBF Portal. You will need to upload the IBF Certification Application Form, and submit other required/supporting information via the IBF Portal.

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Questions? Email certification@ibf.org.sg