Qualification versions

Strategi has both Version 1 and Version 2 of the New Zealand Certificate in Financial Services (Level 5) qualification. The playing field has now changed, and advisers must remain compliant with the legislation, regulation, code and conduct obligations that are applicable today. Some may also need to become an AFA to provide advice until 15 March 2021. The new solutions are:

Already studied, studying, or just about to start your study

Situation

Solution

If you want to provide personalised advice on Category 1 products or provide an investment planning service and you are not in a QFE

Continue with the required NZCFS (Level 5) V1 study and complete asap so you can apply for your AFA status as quickly as possible. (Strategi Institute has both online and Zoom-facilitated courses available)

If you are about to start or are already undertaking the NZCFS (Level 5) V1 but do NOT need to be an AFA

Continue with NZCFS (Level 5) V1, as a ‘closing the gaps’ course will be provided in early 2021 to provide you with the updated training on the legislation, regulation, and Code applicable to the new adviser regime.

Already hold the National Certificate in Financial Services (Financial Advice) (Level 5) or the New Zealand Certificate in Financial Services (Level 5) V1

Strategi Institute will run a series of closing the gaps courses (option of online, Zoom-facilitated courses, or classroom courses) commencing in early 2021. These courses/modules will upskill all those with the old qualifications and provide them with the equivalent of the New Zealand Certificate in Financial Services (Level 5) V2

For those who have attained their NZCFS (Level 5) V2 qualification via Open Polytechnic and want to provide personalised advice on Category 1 products, or provide an investment planning service and need to become an AFA  

Strategi Institute will provide a special Zoom-facilitated training course to prepare you to undertake the mandatory online exam to pass unit standard 26360. Depending upon the final decision of the Code Committee, we may also need to provide an advice process module.

Planning to start studying later this year

Situation

Solution

If you are planning to start your level 5 training between now and November 2020 and want to attain the NZCFS Level 5 V2 and also want to understand the current regulatory regime.

Commence the Strategi Institute NZCFS Level 5 V2 qualification course. This will be a hybrid course that will include both the current and the new legislation, regulation and code, (option of online, zoom facilitated courses, or classroom courses). We will assess against the new legislation, regulation and code plus provide the Regulatory Handbook Edition 4 to provide all the necessary information relating to the current regulatory environment. A small ‘closing the gaps’ module will be provided in early 2021 to cover the disclosure regulations.

If you are not planning to start your level 5 training until after October 2020 and only want to focus on what is required for the new advice regime.

Commence the Strategi Institute NZCFS Level 5 V2 qualification course in October 2020. This will not be a hybrid course and will be 100% based on the unit standards applicable to NZCFS Level 5 V2 and will assess against the new legislation, regulation and code. Note: a ‘closing the gaps’ module will not be required.

NZCFS version 1 diagram NZCFS version 2 diagram

Notes:

  • NZCFS Level 5 V2 does not have a Financial Advice strand as this is incorporated into Core Strand and each specialist strand.
  • A range of ‘closing the gaps’courses would be conducted in early 2021 to update students to the equivalent of NZCFS Level 5 V2.

Need help?

Can’t find the course you are looking for, or need more information on what option is best for you? Contact the Strategi Institute team, we are here to help you.

Contact us