Anyone giving financial product advice under an Australian Financial Services Licence (AFSL) must satisfy ASIC's training standards as detailed in Regulatory Guide 146 Licensing: Training of Financial Product Advisers (RG146). The training standards comprise both knowledge and skills. ASIC generally define Tier 1 training as "Diploma" level; and Tier 2 as "certificate III" level training in the specific content fields as listed in RG146. Units of competency have been developed to address these ASIC requirements so they can be delivered within relevant qualifications.
Tier 2 licensing requirements for RG146 in relation to competence and training for advisers does not need to be a headache. The College has a number of options that can be easily tailored to fulfil your RG146 compliance obligations, and in some cases will be paid for under government funded programs.
The College has Tier 2 accreditation programs that address different the following product ranges: • Basic Deposit Products
• Non-cash payment Facilitates and
• General Insurance
Certificate III in Financial Services FNS30115
Certificate 3 in Financial Services for finance and banking careers
Tier 2 can be delivered as part of this qualification, which is funded or available as a traineeship in many states. The qualification will develop finance industry and compliance knowledge, and skills in customer service and transactions for new staff. It will also meet ASIC RG146 Tier 2 accreditation requirements when Tier 2 is taken as an elective choice as part of the qualification.
Insurance is a growing industry, needing more skilled and qualified staff. This qualification is the ideal way to give new staff a strong introduction into the insurance industry. Your new staff will be able to transfer their knowledge into the workplace almost immediately as they become adept at issuing quotes, understanding the renewal process and making approved policy alterations and cancellations. ASIC Tier 2 accreditation can be selected.
Certificate IV in Financial Practice Support FNS40715
In a highly regulated industry, skilled and trained support staff are essential. Equally they must have a thorough understanding of the industry, its products and services, and the principles and procedures relating to financial plans and their implementation. Develop the skills of your clerical and administrative staff so that they can be of greater assistance to your planners.
Certificate IV in Financial Services for banking careers
The Certificate IV in Financial Services qualification can be tailored to the needs of Credit Managers through the selection of appropriate elective subjects. The program would then meet RG206 Table 2 requirements, while allowing a customised course to meet specific needs. Also or alternatively compliance or Tier 2 requirements can be tailored as part of this qualification.
Take your staff to the next level, and meet the ASIC adviser training requirements, where needed, in a qualification that can be tailored to meet all needs. This course is ideal for employees who are ready to make the step up to a senior consultant or team leader role. Along with the technical nature of the course such as claims processing and underwriting risk, the student will bring back to the organisation leadership and team building skills which will have ongoing benefits for the business unit as a whole.
Tier 2 Adviser Training (General Insurance) FNS30115
Many roles involve selling and advising customers about general insurance products ie home, contents and car insurances. This Tier 2 course specialises in this general insurance product field. A Tier 2 program that combines General Insurance with Basic Deposit Products and Non-cash Payment Facilities is also available. Contact us to ensure that you are enrolled in the correct specialisations.
