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Media Releases 22 Jan 2024

IFPAS and Kaplan Professional Australia partner to launch new certification in Singapore for financial advisory practitioners 22 Jan 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...

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:

  • FChFP1: Principles of Financial Planning
  • FChFP2: Wealth Creation and Retirement Planning
  • FChFP3: Estate and Succession Planning
  • FChFP4: Personal and Business Insurance
  • 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.

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