CERTIFICATE IN FINANCIAL NEEDS ANALYSIS AND PLAN

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TAG had been extended up to end June 2021 for company-sponsored candidates. For company-sponsoredcandidates, please contact SCI.CERTIFICATE INFINANCIAL NEEDS ANALYSISAND PLAN CONSTRUCTION- Eligible to apply for IBFQ (Level 1)- Eligible to apply for AFC /S 01- Exempted from ChFCA Competency-Based Training & Assessment Programme Accreditedagainst the Skills Framework for Financial Services for Financial PlannerENHANCED SUPPORT FOR TRAININGNET FEE# PAYABLE TO SCI UPON REGISTRATION(VALID UNTIL 30 JUN 2021):GROSS FEES 1,926.00 (includes 7% GST)(includes 2 Online Learning Courses onSCI Online Global Classroom andAssessments, 2-day Online FacilitatedTraining and Assessment, onsite 3-hourIndividual Written Assessment)DURATION:42 hours spread over 2 monthsSelf-sponsored candidates:S 96.30Self-sponsored candidates may claim the unfunded net fee fromtheir SkillsFuture Credit, where applicable.Company-sponsored candidates*:S 216.00*can be executive/non-executive staff/FA representatives, as well as staff employed on ashort-term basis of less than one year (inclusive of contract staff and interns), subject tomeeting the conditions under these schemes.GST is not eligible for funding for company-sponsored individuals.#In the event that the candidate drops out halfway through the course or did not pass theassessments, SCI will take steps to claw back the course fee subsidy and IBF Credit fromthe self-sponsored candidate or the company that has sponsored the candidate. The coursefee subsidy and the IBF Credit are applicable only to candidates who have fulfilled all thecourse requirements and passed the examinations/assessments.Eligibility criteria to pay the above net fee: Singapore Citizens or Singapore Permanent Residents. The course must commence between 8 Apr and 30 Jun 2021. Fulfill all the course requirements and pass all the assessments nolater than 30 Sep 2021.IMPORTANT NOTE: No rescheduling, cancellation or withdrawal of registrations areallowed once registration is submitted.REGISTRATION OPENS6 Jan 2021REGISTRATION CLOSING DEADLINE:4 Mar 2021Only In-house packages are available, including in-house Train-The-Trainers courseContact us at: certFPC@scidomain.org.sg or at: 6303 46681

IMPORTANT NOTE:All registrations are subject to review and SCI reserves the right to reject any applications.TARGETAUDIENCEInsurance or financial advisers who have at least a fundamental level of knowledgecovering regulatory requirements and wealth management products derived from licensingexaminations such as CMFAS M5, M8, M8A, M9, M9A, Certificate in Health Insurance orprofessional qualifications.The SCI reserves the right to reject applications.MINIMUM EXPERIENCE AND PROGRAMME PREREQUISITESCandidates must fulfil the following criteria at least 18 years of age when registering for the Cert in FPC programme have completed and passed the following CMFAS modules:(i) CMFAS Module 5 and 8 and 8A and Health Insurance; or(ii) CMFAS Module 5 and 9 and 9A and Health Insurance have an RNF number have at least six months in the financial services industryYou will need to provide your full name (as shown in your NRIC/passport), NRIC/passportnumber, personal mobile number and RNF number at the time of registration.The SCI reserves the right to reject applications.This is a 42-hour competency-based programme accredited by the Institute of Banking & Financeagainst the skills standards for financial planners to equip financial services professionals with thecompetencies to:conduct a proper needs-based analysis;analyse a range of insurance and investment products based on suitability for clients; andconstruct a retail client-based personal financial plan.The programme is based on 10 Competency Units (CUs) and candidates are assessed through avariety of assessment methods, against 24 Performance Criteria (PC).2

COMPETENCY UNITSAt the end of the programme, the candidates are expected tobe competent in the following competency units:01 Financial Products02 Laws & RegulationsExplain the features, benefits, limitations,risks and suitability of financial products toindividuals with financial planning needs.Demonstrate understanding and applicationof relevant laws and regulations as well asawareness of industry trends anddevelopments relating to financial planning.03 Developing a Trust-BasedRelationship with ClientsDevelop professional relationships withprospective and existing clients based ontrust, empathy, credibility and ethicalconduct.04 Client Acquisition andAcceptanceRecognise sources of client acquisition andperform client acceptance checks andon-boarding of prospective clients.05 Cash Management06 Insurance PlanningWork with clients to gather information ontheir income, expenses, taxes and savings toanalyse their management of cash flows.Work with clients with life, health andpersonal general insurance needs andestablish their risk profile.07 Investment Planning(Foundation)08 Retirement PlanningWork with clients with basic investmentneeds to establish their investment profile.Help clients plan for retirement needs byestablishing their retirement goals andanalysing their financial situation.09 Construction of PersonalFinancial Plan10 Review PersonalFinancial PlanConstruct a personal financial plan forindividuals to ensure financial goals aresuccessfully achieved over the planninghorizon.Regularly review the financial plan andengage the client to perform ongoingservicing of client accounts.3

COURSE & ASSESSMENTCOMPONENTS/IMPORTANT DATESONLINE LEARNINGCOURSE 1 (CFPC01)ONLINE LEARNINGCOURSE 2 (CFPC02)20-hour Online Learning Course on FinancialNeeds Analysis and Plan Construction plus a45-minute, 50-MCQ Online Assessment(CFPC01A)15 March 2021 - 5 April 20213-hour Online Learning Course on Skills andEthics for Financial Advisers plus a 15-minute,20-MCQ Online Assessment (CFPC02A)FACILITATED TRAININGAND ASSESSMENT (FTA)(CFPC03)Candidates are required to fullycomplete CFPC01 & CFPC02and the assessments therein2 working days before the firstday of FTA.16-hour Online Facilitated Training andAssessment, includes Group Discussionand Presentation and eRole Play Assessments.FTA (Online via ZOOM)8 - 9 April 2021(0900hrs - 1800hrs)You will be required to bring anon-programmable financialcalculator during the 2-day FTA.INDIVIDUAL WRITTENASSESSMENT (IWA)(CFPC03A)3-hour Individual WrittenAssessment (IWA)remotely-proctored, unlessotherwise advised.3-hour Individual Written Assessment (IWA Online)IWA (Online)16 - 30 April 2021(1000hrs - 1300hrs)For in-house trainings, dates can be customised to your convenience.OVERALL PROGRAMMECOMPLETION REQUIREMENTSPlease note that in order to earn the Certificate in Financial Needs Analysis and Plan Construction andbe eligible to apply for TAG, you are required to fulfil ALL OF THE FOLLOWING REQUIREMENTS1. Fully completed all the course contents (including the Quizzes) of Financial NeedsAnalysis and Plan Construction and Skills and Ethics for Financial Advisers2. Scored at least 80% for the Assessments of Financial Needs Analysis and PlanConstruction and Skills and Ethics for Financial Advisers3. Achieved 100% Attendance for the 2-day Online Facilitated Training and Assessment4. Scored at least 80% for the in-class Group Discussion and Presentation Assessment5. Assessed as “Competent” for the eRole Play Assessment6. Scored at least 70% for the Individual Written Assessment4

HOW TO START YOUR LEARNING JOURNEYSTEPAccessing the 2 Online Learning Courses & 2 MCQsOnline Assessments1 E-mailYou will receive a programme confirmation e-mailfrom SCI on the intake details.STEPYou will receive another e-mail from usproviding the details on how to access thetwo online learning courses. The OnlineLearning Courses can be taken in any order.Once you have fully completed all thecontents (including quizzes) for the twoonline learning courses, you will be able totake your two assessments immediately.The two MCQs online assessments can betaken in any order. You are only allowed toattend the 2-day (Online). AFTER you have fullycompleted all the course contents (includingthe Quizzes) of the two Online Learningcourses and passed the two onlineassessments.211Attending the 2-day FTA (Online)STEP3An e-mail from SCI will besent to you regarding thedetails of the FTA.Your FTA dates will bepre-assigned based onthe intake which youhave selected.Attempting the 3-Hour IWASTEP4Attempting the 3-Hour IWA (Online) ONLY UPONhaving been marked as competent in the 2-day FTAOnline. Candidates are required to take the 3-hourIWA within the scheduled period. The IWA will bescheduled from 10:00 to 13:00. Candidates are required totake the 3-hour IWA remotely proctored, unless otherwiseadvised.INDIVIDUAL WRITTEN ASSESSMENTCandidates are required to take the 3-hour IWA remotelyproctored, unless otherwise advised.OVERALL SMART CERTIFICATEAn Overall Smart Certificate in Financial Needs Analysis and Plan Construction will beissued to successful candidates who have fulfilled all the programme requirements andsubmitted all the required online course-end evaluations. SCI will send out a pushnotification informing the candidates that their Overall Smart Certificate is ready to beaccessed and downloaded.CERTIFICATION AWARDED UPONSUCCESSFUL COMPLETIONUpon successful completion of the Certificate in Financial Needs Analysis and PlanConstruction, the candidates will be eligible for the use of the certification designation:Cert SCI (FPC)5

CERTIFICATION & BENEFITSExempted from ChFC /S 01Holders of Certificate in Financial Needs Analysis and Plan Construction will be eligible forexemption from ChFC01 when they proceed onto the ChFC /S programme, awarded by SCIunder licence from The American College of Financial Services.No additional fee charged for exemption.Note: The same Enhanced Training Support and IBF credit plus Training Allowance Grantare also available for ChFC/S programme. For more details, please visit SCI website essionalSeriesEligible to apply for IBFQ ( Level 1 )Holders of Certificate in Financial Needs Analysis and Plan Construction who have passedM5, Certificate in Health Insurance, M9 & M9A or M8 & M8A will be eligible to apply for IBFQualified (Level 1) and are entitled to use the certification title of “IBFQ”.Cert in FPC holders will be required to apply for IBFQ certification on their own byfollowing the Guide below.Guide to applying for the IBF Certification1. Log into your IBF account in the IBF Portal and click on apply for certification under‘My Certification’. You will need to create your IBF account if you don’t already haveone.2. Fill in all the necessary particulars- Select ‘Singapore College of Insurance’ as your training provider and select theCertificate in Financial Needs Analysis and Plan Construction programme.3. Upload supporting documentsNOTE: You will be required to upload a copy of:a. Cert in FPC Certificate of Completionb. Your CV/Resume (RNF number to be indicated)4. Confirm your application and head to the payment page to complete your application.Note that certification fees are currently waived, and fee reflected will be indicated as 0.00 in the invoice.5. You will be notified via email once IBF approves the application. Should IBF requirefurther clarifications on the Certification Application, an email will be sent to you.SCI does not administer the IBF Certification.To find out more regarding IBF certification, please refer to IBF’s website be-Certified.aspxEligible to apply for AFCHolders of Certificate in Financial Needs Analysis and Plan Construction will be eligible toapply to IFPAS for Associate Financial Consultant (AFC) designation, subject to IFPAScriteria met. Fees may be applicable.6

ABOUT SKILLSFUTURE CREDITSkillsFuture Credit is only available to Singaporeans aged 25 and above. The SkillsFuture Credit is targeted atSingaporeans who have generally completed their full-time education and are in the workforce or preparing tojoin the workforce. It encourages working adults to invest in their continued learning journey and be activelearners.Source: www.myskillsfuture.sgPlease visit website at: www.myskillsfuture.sgHow do I check what is my available SkillsFuture Credit balance?You may follow these steps to log in to check your available SkillsFuture Credit:i. Go to MySkillsFuture at: www.myskillsfuture.sgii. Click on “Login”iii. Upon login, click on “SkillsFuture Credit”If this is the first time that you are applying to use your credit, you will be prompted to update your profileinformation.How do I check if the SCI course/examination that I am registering for is eligible for SkillsFutureCredit?Please visit SCI website at: https://www.scicollege.org.sg/docs/STS FTS.pdf to see the list.Do I need to inform SCI that I am going to use my SkillsFuture Credit to fully or partially offset theportion of the fees that is not funded by the IBF under the Enhanced Support Scheme?You are not required to inform SCI that you are going to use your SkillsFuture Credit. You will have to pay thefull amount of the qualifying course fee first to SCI even if the course is eligible for SkillsFuture Credit.How should I submit my SkillsFuture credit claim?You may follow these steps to log in:i. Go to MySkillsFuture at: www.myskillsfuture.sgii. Click on “Login”iii. Upon login, click on “SkillsFuture Credit”Before logging into your account, you will need to have your SingPass ID, password, name of TrainingProvider, course title and course start date.Please note that it is mandatory for you to submit supporting documents (detailing the course fee, governmentsubsidy, receipt/net course fee payable [inclusive of GST] and your name as per your NRIC) for your claim.You are required to submit supporting documents (detailing the course fee, government subsidy, receipt/netcourse fee payable [inclusive of GST], your name as per your NRIC and proof of payment such as registrationconfirmation, acknowledgement slips or official receipts) at the point of claim submission. You may upload upto 10 documents with a maximum file size of 5MB per document. The supported file types are PDF, DOC,XLS, TIF, JPG and PNG.If you face issues, please call SkillsFuture Credit hotline at: 6785 5785When should I submit my SkillsFuture Credit claim?You should submit your claim via MySkillsFuture immediately after you have registered and paid up for theSCI course that you are applying SkillsFuture Credit for. You must submit the claim BEFORE THE COURSESTART DATE.NOTE: It is not SCI’s responsibility to submit SkillsFuture credit claims for candidates. If your claimshould be rejected by SSG for whatever reasons, SCI will not be able to refund you the qualifyingcourse fees.7

What documents will SCI furnish me to submit to SkillsFuture Credit before my SCI course starts?You will receive a course notification e-mail stating that we have received your registration. You will alsoreceive an invoice/receipt.Please note that your course commencement date reflected on your Invoice / Receipt is NOT EARLIER thanyour Invoice / Receipt date.Please note that it is mandatory for you to submit supporting documents (detailing the course fee, governmentsubsidy, receipt/net course fee payable [inclusive of GST] and your name as per your NRIC) for your claim.When will SCI refund to me the qualifying course fees that I successfully claimed from SkillsFutureCredit?SCI will refund you the qualifying course fees based on the approved amount by SSG, within one month fromthe course start date.How will SCI refund me?SCI will refund you the amount to your credit card, which is the same mode of payment you have used inpaying your course fee to SCI.How will SCI inform me that it has received a successful notification from SkillsFuture credit regardingmy claim and will be refunding to me?SCI will inform you via e-mail before your course end date.What happens if I withdraw from SCI’s course for which I have submitted a claim for SkillsFutureCredit?You will need to inform the SCI in writing that you wish to withdraw from the course and you should cancelyour claim submission in MySkillsFuture no later than 1 day before the course start date. The funding agencyfor SkillsFuture Credit will not deduct your SkillsFuture credit from your account. In that regard, SCI will notprocess any refund to you as there is no refund or cancellation after registrations have been submitted.Note : You will not be able to cancel your SkillsFuture credit claim submission after the course commencementdate.Can I get a refund for the credit that I have used for a course, which has been cancelled by SCI?Where a course has been cancelled by SCI due to unforeseen circumstances, SCI will notify you in a timelyfashion of the cancellation. You should also cancel your claim submission in MySkillsFuture no later than 1day before the course start date. SCI will refund to your credit card company the amount that was paid to theSCI for the course that was cancelled by the SCI.IMPORTANT NOTE: SCI does not administer the SkillsFuture Credit scheme. For enquiries onSkillsFuture Credit, please contact SSG at 6785 5785 or through their website at:https//portal.ssg-wsg.gov.sg/feedbackABOUT TRAINING ALLOWANCE GRANT (TAG)TAG had been extended up to end June 2021 for company-sponsored candidates. For company-sponsoredcandidates, please contact SCI.The Training Allowance Grant is part of MAS’ support package to encourage financial institutions and FinTechemployers to make use of the downtime in business activity, to train and deepen the capabilities of theiremployees such that the workforce can be in a position of strength when the economy recovers. Locals, eventhose outside of the financial and FinTech sectors can also use their personal time to attend accredited coursesthat are relevant for the financial sector.Please visit IBF website at: www.ibf.org.sg8

Which SCI courses are eligible for the Training Allowance Grant?For self-sponsored individuals, only IBF accredited courses under the IBF Standards Training Scheme(“STS”) will be eligible for the Training Allowance Grant.For company-sponsored individuals, all IBF recognised courses under the IBF Standards Training Scheme(“STS”) or Financial Training Scheme (“FTS”) will be eligible for the Training Allowance Grant.Please visit SCI website at: https://www.scicollege.org.sg/docs/STS FTS.pdf to see the list of SCIaccredited courses under IBF-FTS/IBF-STS.What is the level of grant that will be provided under the Training Allowance Grant?Financial Institutions / Certified FinTech Firms 15 per training & assessment hourFor company-sponsored individuals, TAG will be paid to the company and not the company-sponsoredindividuals.When will the Training Allowance Grant take effect and for how long will the Training Allowance Grantbe made available?For company-sponsored indviduals only, the Training Allowance Grant will apply to IBF recognised courses thatcommence on or after 8 April 2020, up to 30 June 2021 and courses/exams must be completed no later than 30September 2021.Who is eligible for the Training Allowance Grant?The Training Allowance Grant is open to:(a) Companies who are supporting their employees for training. Eligible companies must be:i. Singapore-based financial institutions regulated by MAS (licensed or exempt by MAS), orii. FinTech firms certified by the Singapore FinTech Association (SFA).Eligible companies can claim TAG for employees who are Singapore Citizens or Singapore PermanentResidents, who are physically based in Singapore and have completed an IBF-STS or FTS course; andHow to claim for the Training Allowance Grant?For Eligible Companies That Sponsored Their EmployeesFinancial Institutions and eligible FinTech firms can submit a training allowance grant claim through the IBFPortal upon fulfilling all course requirements and passing the examinations/assessment. Claimants will bereq

1. Fully completed all the course contents (including the Quizzes) of Financial Needs Analysis and Plan Constr uction and Skills and Ethics for Financial Adviser s 2. Scor ed at least 80% for the Assessments of Financial Needs Analysis and Plan Constr uction and Skil

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