What experienced advisers should know

13 November 2019


Level 5 Training: What experienced advisers should know

We hear you: if you have been in the financial services industry for a number of years, the idea of undergoing more training may seem pretty unappealing – especially when you already have a full-time job to focus on.

But even if you have extensive experience in financial services, there are undeniable benefits to getting your NZ Certificate Level 5. According to Rod Severn, CEO of Professional IQ College, here are some key reasons for not putting off your Level 5 qualification any longer.

It’s not as time-consuming as you think

“The NZ Certificate in Financial Services (Level 5) is the new benchmark qualification for financial advisers, lifting standards across the board. This means that all advisers, established or new to industry, can now reap the benefits of being able to demonstrate their knowledge and competence with a formal qualification.

If you have been in the industry for more than five years, your on-the-job expertise is likely to give you an advantage – it should be a lot easier and faster for you to complete the qualification, as you can draw on your existing knowledge.

The NZQA set the hourly cap for completing Level 5 at 650 hours (or about 10 and a half months), and that’s assuming someone has no current industry knowledge to back them up. But our statistics show that experienced advisers can complete Level 5 in three or four months quite comfortably.”

No classroom exams

“No matter how long ago your own school days were - the idea of studying to get a certificate inevitably evokes a ‘back to school’ feeling. But that is not what Level 5 programmes are about.

Our Level 5 programme is designed for busy individuals and it’s completely online, so there are no classroom exams involved. Advisers can learn at their own pace, at times to suit their business.”

You can refresh your knowledge, and maybe expand it

“In an industry that’s constantly changing, it’s important to ensure that your knowledge is current. So if you haven’t gone through training for a long time, Level 5 can be an opportunity to refresh your existing knowledge – and perhaps even expand your horizons.

Plus, if you have completed the old Level 5 qualification, or parts of it, our Level 5 Bridging Programmes take care of this, allowing you to transfer the old learning to the new qualification in a quick, easy and affordable way.”

You can apply for a $550 rebate: here’s how

“Once you enrol with Professional IQ College, you are given time frames to work to, and one of our student liaison team will be guiding you every step of the way, to ensure you stay on the right track.

While three-to-four months is usually a realistic timeline for experienced advisers, if you’d like to take advantage of our $550 +GST rebate, getting the timing of completing your assessments right is key, To be eligible for the rebate, you must complete your Level 5 full qualification over an eight-month period (no earlier and no later) from the start date.

Of course, it’s up to you to choose a target time. Whether your aim is to complete the programme as fast as possible, or finish it in exactly eight months and get the rebate, our student liaison team will help you keep on course to achieve your goals.”

Get started

Would you like to get your Level 5 Certificate underway? Make sure you don’t wait till the last minute. The earlier you start, the earlier you will reap the benefits – and can get back to focussing on your business.

Visit professionaliq.co.nz or contact our team on 09 306 1731 to learn more about your options. Our online Financial Services Level 5 Programme is designed for busy advisers who want to meet the highest standards in the financial advice industry, and are looking for a flexible and efficient training solution.

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