New rules bring rebrand for industry college

As insurance becomes more closely associated with the financial services sector, professional development courses are being designed to reflect this.

New rules bring rebrand for industry college

Insurance News

By Maryvonne Gray

New regulations aligning the insurance sector with the financial advice sector have prompted a rebrand for IBANZ College which will also be offering a wider selection of courses to be made available.
A working group was put together to determine the IBANZ College’s strategic direction  which resulted in the name being changed to the Professional IQ College, and additional courses that would suit professional development in financial services and banking as well as insurance.
Principal of Professional IQ College, Lesley Southwick, said all courses, study programmes and subsequent qualifications are current in terms of industry knowledge, regulations and government legislation.
“An important function of the college is to keep abreast of legislation and that is reflected in all areas of our curriculum,” she said.
“The FMA and other industry associations are those with whom we have closest and most regular contact.”
Southwick said that with legislation driving the effort towards higher standards of knowledge and transparency there was greater potential reward for those who complete the studies directed at these goals.
“Enrolment with Professional IQ College allows a student access to a personal ‘dashboard’ which will enable the creation of a personal learning plan,” she said.
“This plan tracks the student’s progress, identifies gaps and allows the student to identify training, fill any identified gaps in knowledge and skills.”
All programmes meet the IBANZ CPD requirements. The college can also rate programmes for other organisations.
All people who give financial advice on category 1 products must be AFA registered. They can gain the National Certificate which is a basic requirement of registration, through the college.
Having a New Zealand-recognised qualification adds to the professionalism of anyone operating in the sector whether they are an authorised financial adviser (AFA) or registered (RFA).
One student, UK expat Neil Bramley, of Funds Administration New Zealand in Hawkes Bay, recently completed Set B of the National Certificate in Financial Services through the college after struggling to come to grips with the differing New Zealand regulations.
“The Professional IQ manual was the key for me,” he said. “It was very easy to understand and I was given sound advice on key points of regulations to study.”
Bramley is now an Authorised Financial Adviser.
IBANZ members will still be offered discounts to study through the college, Southwick added.

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