Financial Advice Code Competency Documentation |
In 2023, we assigned all advisers a task in our learning management system to provide a documentary record of how they have determined that they meet certain required standards of competency, knowledge and skill under Standards 6 and 8 of the Code of Professional Conduct for Financial Advice Services (Financial Advice Code). Financial Advise Code Requirements To meet the requirements of Standards 6 and 8 of the Financial Advice Code, all advisers need to demonstrate both general competency and specialist competency that is most relevant to the type of product that you advise on. For example, if you distribute Risk products through AIA, then you could demonstrate your specialist competency by providing evidence of completing a Life, Disability and Health Insurance strand as part of a Level 5 qualification. The Financial Advice Code does not limit how you may demonstrate that you meet the required standards of competence, knowledge, and skill. Although many advisers will have obtained Level 5 qualifications to evidence how they meet the required standards, you may upload other qualifications/evidence that you and your FAP have determined meet the requirements of the Financial Advice Code Standards 6 and 8. What's happens next? After uploading your competency documentation, you will receive a notification that the process for this task is now completed. However, this means that we have successfully recorded the documentation you have provided in our Learning Management System. AIA is not validating the documentation you provide, or providing a view on whether your qualifications meet the requirements of the Financial Advice Code. When is this due? The due date for uploading documents is Friday 15 March 2024. The task can be found in your My Learning profile in AIAHub which can be accessed below. |
|
Questions?If you have any questions, please contact your BDM. |
|