About Strategi Institute
Who is Strategi Institute?
David Greenslade is the Managing Director of Strategi Institute Limited. He is an industry leader in training and business development for advisers, a sought after speaker on all aspects of finance and investment, is the author of a number of books and regularly has articles or comment published in industry media.
The Strategi Institute is a registered training provider with NZQA and is accredited to provide training and assessment relating to the National Certificate in Financial Services.
Why study with Strategi Institute?
Strategi Institute is a professional training organisation dedicated to providing high quality practical training for the financial services industry.
Strategi Institute should be an adviser’s preferred choice for undertaking study because we provide you with:
- Innovative education design
- Up to date content.
- A practical and relevant training experience.
- Some of the most experienced trainers in the financial services industry.
- A range of learning opportunities depending upon the knowledge and experience of the adviser. This includes the option of either in-classroom (residential) learning or distance learning (via the internet).
- Courses delivered in all major centres in NZ (subject to demand).
- Opportunity to network with peers and share your own best practice ideas.
- Fast turnaround of assessment submissions.
- Generally open book assessment, case studies and submission of real client files.
- The opportunity to engage Strategi to provide ongoing compliance services and Best Practice reviews.
What training do you offer?
Strategi Institute provides a full range of CPD modules, short courses and conferences, as well as courses required for the National Certificate in Financial Services.
>> Back to topAbout the qualifications
What is continuing Professional Development (CPD)?
The Code of Professional Conduct requires all AFAs to undertake a minimum of 20 hours Continuing Professional Development per annum. There must be a minimum of 10 hours of structured training. All advisers must maintain a CPD development plan plus a CPD log.
What is the National Certificate in Financial Services?
The full title of the qualification is National Certificate in Financial Services (Financial Advice) (Level 5). For simplicity, it is often referred to within the industry as:
a. National Certificate Level 5, or
b. Level 5 National Certificate, or
c. National Certificate in Financial Services
The National Certificate in Financial Services is part of the National Qualifications Framework that is administered by NZQA. The Level 5 National Certificate in Financial Services is the minimum educational standard required for authorised financial advisers under the Financial Advisers Act 2008. It is the competency benchmark for RFAs
For detailed information on the Certificate, please refer to www.etito.co.nz.
The Strategi Institute is registered and accredited as a Private Training Entity (PTE) to deliver training and assessment for both the National Certificate in Financial Services (Financial Advice) (Level 5) and the National Certificate in Financial Services (Level 4).
>> Back to topGetting qualified
How do I find out whether any of my existing qualifications will be recognised as meeting the educational requirements of an Authorised Financial Adviser (AFA)?
For information relating to the proposed minimum standards of competence, knowledge and skills for Authorised Financial Advisers, visit www.financialadvisercode.govt.nz and download a copy of the Code of Professional Conduct. Section G lists the recognised alternative qualifications and designations.
Any qualifications not listed in the Code Committee’s discussion paper will not be recognised, unless it can be clearly shown that specific components of a qualification are directly correlated to a Unit Standard(s). The ETITO’s self-evaluation tool will also assist you in identifying any gaps where you will require training and assessment. Strategi can provide detailed guidance and advice around whether any prior qualification can be recognised.
I’m not an adviser, but I do work in an adviser practice. Do I need to study for the National Certificate Level 5?
The simple answer is NO. Only those who provide an investment planning service and/or advise on or sell Category 1 products, need to obtain the National Certificate. However, if you plan to become a financial adviser in the future, then it may be a good idea to start the process as the courses will provide excellent background knowledge and it may take a number of years to complete the entire process.
I have some other qualifications. Can they be cross-credited towards Level 5?
If you have other qualifications and designations and wish to ascertain if they can be cross credited, then the most authoritative source to visit is the Code of Professional Conduct for Authorised Financial Advisers. Refer to Section G for a detailed explanation of what qualifications and designations are recognised as alternatives to specific Standard Sets. Every AFA will need to complete Standard Set B.
What if I am not a practicing financial adviser?
It is recognised that a number of individuals who are not currently practicing financial advisers may wish to undertake the certificate. You may still study towards the National Certificate in Financial Services (Financial Advice) (Level 5) and where evidence based assessment is required, you will need to develop suitable client portfolios of evidence, which demonstrate your competency in all areas equivalent to a practicing adviser.
How do I know whether the training and assessment I undertake will be recognised towards the National Certificate in Financial Services (Financial Advice)(Level 5)?
There are a number of entities in the market advertising themselves as training providers. Anyone is free to provide training on subject matter, which may or may not be included in the Unit Standards of the National Certificate in Financial Services (Financial Advice)(Level 5).
However, only those organisations who have been accredited as a Private Training Entity (PTE) by the ETITO and NZQA are recognised as being able to deliver training of a quality that covers all of the content of the Unit Standards. Furthermore, PTEs are the only training providers able to assess an individual against those Unit Standards.
By training with the Strategi Institute, a registered PTE, you are ensuring that your training is up-to-date and relevant to the assessment you will subsequently undertake. Successful completion of training and assessment via the Strategi Institute as a PTE is subsequently recognised via the awarding of credits recorded with NZQA.
How do I become registered as a Financial Services provider?
From 1 April 2011 if you are an individual financial adviser providing financial service, you MUST be registered on the Financial Service Providers Register (FSP Register) for ALL types of financial service you provide.
You can apply for registration via the Companies Office website.
Financial advisers when completing their individual registration (or when registering their companies), on the Financial Service Providers Register are required to notify the Registrar of ALL financial services they provide, or intend to provide. Financial advisers (and their companies) can only be in the business of providing the services for which they are registered.
To read more about what is a financial service, when to select a particular financial service and the consequences of being in the business without being registered for the correct type of financial service you currently provide, download the Strategi Guidance Notes.
How do I apply for authorisation once I have completed my study?
Application is made via the FSP Register and a guide for applicants has been has been published by the FMA. Download a copy of the FMA's Guide to Authorisation
How do I view my record of learning held by the New Zealand Qualifications Authority (NZQA)?
Download the instructions on how to view your record of learning.
>> Back to topWhat training do I need?
If I complete the ETITO’s self-evaluation tool and discover there is a shortfall in my learning, what do I have to do next?
The ETITO’s self-evaluation tool will provide financial advisers preparing for authorisation with an indication of any current knowledge and/or skills gaps that they might have across a range of Unit Standards contained within the National Certificate in Financial Services (Financial Advice) (Level 5).
It is the adviser’s responsibility to then undertake any required training and assessment via an accredited training provider to obtain the relevant Unit Standards identified as a requirement for that adviser. The ETITO self-evaluation tool is only a tool. It does not exempt you from the requirement to undertake the training/assessment and completion of the tool does not count towards the Unit Standards.
Which pathway is right for me? Distance learning or classroom learning?
Choosing which learning pathway to take is easy with the Strategi Institute.
Classroom learning exposes you to real experts – qualified trainers who have day-to-day industry experience and can make your Level 5 study a real career-enhancer. Classroom learning enables advisers to learn from each other and share experiences. Those who undertake the Strategi Institute courses rave about how much more they have learned and how they can return to their business and immediately implement new systems and processes that not only make them more compliant, but also help them generate additional revenue.
Distance learning is a less expensive option and means you can avoid spending time away from your business and complete your studies as fast as you want to. And if you’re struggling, whether you’re classroom or distance learning, there’s always someone who can help and guide you through the course work.
If I only require one or two of the unit standards of a particular course, do I have to complete the full course or just part of it or can I complete something else instead?
Training at the Strategi Institute is delivered through classroom/distance learning structured to provide you with all of the Unit Standards relevant to a specific Standard Set. There is significant cross over between the subject matter of Unit Standards within a standard set. This would make the delivery of training towards individual Unit Standards in isolation ineffective. It is usually quicker and easier for you to just complete the whole standard set. In this instance, the distance learning option is probably the best way to go.
Should I do Standard Set D or E?
The Strategi Institute is a registered and accredited training provider and is not your business adviser. The decision regarding undertaking Standard Set D or E is determined by what products you currently advise upon and sell and what sort of service and advice you provide to your clients. You should also consider what sort of products and service you intend to provide in the future.
From there, refer to the Code of Professional Conduct for Authorised Financial Advisers and in particular refer to Code Standards 14 and 16.
If you currently only advise on and sell insurance products and have no intention to move into investments, then Standard Set E may be suitable for you. However, if you currently advise upon and sell investment products including Kiwisaver and unit linked superannuation/insurance products, then you will need to consider Standard Set D. If you do investments and also more complex insurance such as succession planning, business insurance etc, then you need to consider undertaking Standard Sets D and E (to meet the requirements of Code Standard 14).
There is a requirement under Code Standard 14 to ensure that an AFA has the competence, knowledge and skills to provide the service being provided. If you are not providing a particular service right now but intend to do so, then you may wish to obtain the additional Standard Sets ( if they are required) as part of your Continuing Professional Development (CPD) that under Code Standard 17 and 18,you must maintain.
What about Standard Set B?
Standard Set B is a one hour on-line multi choice examination conducted by ETITO. The examination covers the various laws and Codes that are relevant to an AFA. There is an ETITO fee of $275 plus GST that all candidates must pay. Strategi has developed a handbook that has sufficient information to enable a candidate to pass the examination. In addition, Strategi will develop and conduct a series of half day training courses throughout New Zealand.
When should I do Standard Set C?
Standard Set C is a workplace assessment that involves the submission of three portfolios of evidence. For a number of advisers, this standard set may be a significant challenge as they have not previously documented their client advice to the standards that are now required. Strategi Institute recommends candidates complete Standard Sets A and either D or E before they attempt Standard Set C. The content of the previous standard sets will make it significantly easier for a candidate to successfully complete Standard Set C on the first attempt.
Strategi Institute will conduct a 3-day or 1-day course for Standard Set C. This course will cover the content of the relevant unit standards plus will spend time ensuring candidates know exactly what they need to submit for their portfolios of evidence. The 3-day course is designed to introduce candidates to the new forms and methodology that will be an integral part of doing business under the new regulations. It is recommended that most candidates delay attending this course until late 2010. This allows candidates to complete other standard sets plus get familiar with the new documentation and then ideally submit their portfolios of evidence based on the new Code Standards and their new method of operation, rather than submitting portfolios based on the way they have conducted business in the past. Please note: there is no requirement to use the new methodology when submitting portfolios of evidence- it is just a good idea to use Standard Set C to not only learn the relevant unit standards but to also :
- gain an in depth understanding of the Code
- develop new templates and processes that will be an important part of operating under the new regulations
- practice new techniques
The submission of portfolios of evidence using the new methodologies will give candidates confirmation that they understand how to operate under the new regulations.Preparing for your course or changing courses
Are there more advanced courses after Level 5?
Strategi Institute will become a part of your career journey. We intend to offer Level 6 and 7 Certificates, once ETITO has developed them. Strategi already offers a range of skill-enhancing courses and business development consultations. For further information, contact the Strategi Institute.
>> Back to topEnrolling or transferring
How do I enrol for training?
To make a booking, visit our enrolment page and download the registration form for the type of training you wish to undertake. Complete the form, attach payment, then mail to Strategi Institute. Once the registration is received by Strategi Institute, you will receive confirmation regarding the training you are registered on, and you training material.
Can I transfer from one training provider to another?
The simple answer is yes. However, transferring training providers part way through completing a course may create difficulty in being able to complete (without some repetition) the content of that course. It is best to remain with your existing provider, until you have completed a particular course and then transfer, before commencing the next one.
>> Back to topHow long will my study take?
How long will it take to achieve my Certificate in Financial Services?
The time frame is dependent upon the following:
- What stream of study is undertaken — classroom learning or distance learning
- Course availability
How much time will I spend away from the office?
Strategi Institute’s courses via classroom learning are predominantly 3-day courses, which are positioned throughout the study year so as to not conflict too much with the work you have to do at the office. There will be the opportunity to undertake 1-day and 2-day ‘bolt on’ courses to handle single Unit Standards.
All public classroom courses include manuals, catering, a mentor, student education portal and trained facilitators. Indicative dates are published well in advance. This enables you to choose when and where you wish to undertake your courses. All calendar events, including classroom dates and assignment deadlines are posted on your personal account webpage.
>> Back to topPreparation and attendance
How important is the classroom course pre-reading?
The pre-reading for the classroom courses is designed to enable you to have a good understanding of the material before attending the course. This will enable you to spend more time actively engaged in the course discussions rather than struggling to get to grips with some new terminology during the course.
The value of the course is in the practical discussions and what can be taken back to the work place to enable you to be more profitable. The pre-reading gives you familiarity with the manual content and layout which makes it faster and easier during the course to locate answers that are needed for the assessments
Can I miss a day of the course?
It is recommended that a course be attended full time. Each day of a course is building on the previous day and throughout the course,the assessment process is being undertaken. If a candidate misses a day, then they will need to do some of the in-class assessment work in their own time plus they may miss some valuable discussion relating to the practicalities of applying the Unit Standard content back in the workplace.
However, if missing a day is unavoidable, then the course facilitator is available each night of the course to provide individual tuition plus the mentor can be contacted to provide assistance with better understanding and completing the assessments.
>> Back to topAssessment
How am I assessed?
There is no need to worry. Memory retention type assessment is not undertaken. Every stage of the assessment process will be clearly explained to you. All assessments are ‘open book’. Assessments will be a combination of multi-choice questions, written essays, case studies and submission of portfolios of evidence. You will have three opportunities to pass an assessment.
Every student will be assigned a course mentor. This person will be skilled in assisting the student to understand the assessment process and coach for improvement when difficulty is encountered with understanding course content or with the assessment process.
How much of the assessment work is completed on the actual course?
The amount of assessment work undertaken during a course will vary from Standard Set to Standard Set. For many courses, over 50% of the total assessment work can be completed and handed in at the course. This will save you significant time when you return to your business. The course assessments are all open book, have no time limits and no trick questions. The courses will also give you an opportunity to work on your case studies or portfolios of evidence, thereby ensuring you have a better chance of 'passing' the assessment process first time. The course facilitator and course mentor are also available to assist if you need any clarity around answering any assessment.
What happens if I do not meet the assessment standards required?
Each time you submit an assessment, you will be provided with feedback to help you submit what is required to obtain an ‘achieved’ status. Each student will be given 2 opportunities to re-sit the assessment, before being required to undertake the course again.
If the appropriate amount of time is applied to pre-course reading, participating throughout the course, then diligently applying what has been learnt to the post-course assessments, there is every likelihood that a student should successfully complete each course. The assessment process is different for every Standard Set. A large part of the assessment process is completed during the classroom courses. Where case study work is required after the course, then there will have been an opportunity during the actual course to practice exactly what is going to be assessed.
>> Back to top
