Financial Planning (Personal) Level 1

Job Roles

Job Description

  • Acquire and service clients with financial planning needs
  • Perform client needs analysis
  • Develop and implement solutions for clients to achieve their overall financial plan objectives
  • Clients' financial planning needs may include cash management, investment, insurance and retirement planning

Job Roles

  • Financial Planners
  • Insurance Agents
  • Relationship Managers
  • Personal Financial Consultants

Prerequisites

Possess GCE 'A' Level or diploma/ degreeorPossess prior working experience in a Financial Institution

Relevant Job Responsibilities

  • Communication with potential clients
  • Client acquisition and client acceptance
  • Provision of cash management, investment, insurance and retirement advice
  • Sustaining relationships with clients

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Financial Planning (Personal) Level 1

Competencies

Industry Knowledge: Financial Products

Explain the features, benefits, limitations, risks and suitability of financial products to individuals with financial planning needs.

Exemption available upon completion of:
-Capital Markets & Financial Advisory Services (CMFAS) Module 8 and 8A or 9 and 9A

and

-Certificate in Health Insurance.

Industry Knowledge:Laws & Regulation

Apply relevant laws and regulations governing financial planning activities and maintain awareness of industry trends and developments.

Exemption for this Competency Unit available upon completion of the Capital Markets & Financial Advisory Services (CMFAS) Module 5

Developing a Trust-Based Relationship with Clients

Develop professional relationships with clients based on trust, empathy, credibility and ethical conduct.

Client Acquisition & Acceptance

Recognise sources of client acquisition and perform client acceptance checks and on-boarding of prospective client

Cash Management

Gather information on client's income, expenses, taxes and savings to analyse their management of cash flows.

All competencies are portable to IBF Standards: Wealth Management Relationship Management - Retail Banking/Priority Banking (Level 1) subject to bridging programme and provided learner has completed all competencies within IBF Standards: Financial Planning - Personal (Level 1)

Financial Planning (Personal) Level 1

Competencies

Insurance Planning

Analyse client's life, health and personal general insurance needs and establish their risk profile.

Investment Planning (Foundation)

Analyse client's basic investment needs to establish their investment profile.

Retirement Planning

Analyse client's financial situation to establish their retirement goals and needs.

Construction of Personal Financial Plan

Construct personal financial plan for client to ensure financial goals are successfully achieved over the planning horizon.

Review Personal Financial Plan

Review client's financial plan and engage client to perform ongoing servicing of their accounts.

All competencies are portable to IBF Standards: Weal th Management Rel ationship Management - Retail Banking/ Priority Banking (Level 1) subject to bridging programme and provided learner has completed all competencies within IBF Standards: Financial Planning - Personal (Level 1)