Governance for Financial Advice Providers (Small Business) (Level 6) Microcredential

Good governance is a key requirement for every financial advice provider (FAP) big or small. It’s also good business. Our Governance for Financial Advice Providers (Small Business) (Level 6) Microcredential is a must for owners and directors of small to mid-size FAPs, as well as those intending to become company directors.

View the full course brochure here

Why you need this course

The Financial Markets Authority (FMA) expects FAPs to have an approved and documented policy that ensures FAP directors and senior managers have the right skills and experience for their roles. Oversight and compliance functions need to cover all the required components and have sufficient scope to monitor the business effectively and ensure licence obligations are met. (See FAP full licence guide Version 7, FMA January 2022)

This course gives you the skills and knowledge to meet these expectations. But more than just compliance, it will show you how good governance translates to good business.

What you’ll learn

This course will help you foster an effective governance culture, while providing the tools to ensure your FAP meets its regulatory obligations, compliance requirements, and appropriate risk management. More specifically, you will learn:

• the FMA’s FAP licensing requirements;
• how to build an appropriate governance framework for a small to mid-size FAP;
• the necessary legislation, regulations, code, good conduct obligations and product provider obligations;
• how to appraise board competence, knowledge, and skills, and board reporting requirements;
• how to manage business risk, IT and cybersecurity, and outsourcing decisions;
• the obligations, compliance and record-keeping requirements;
• how to develop a fit-for-purpose advice process;
• how to ‘right size’ your governance framework;
• when to have a board and how to get value from directors;
• how to conduct meaningful board meetings and produce board papers and meeting minutes quickly; and
• how to set the FAP on a path of growth and success.

What you get

Great learning outcomes and:

• an electronic and printed course manual;
• templates and guidance notes that can be used within your business;
• ‘the book’: a notebook for recording your profitable ideas and advice;
• pre-course and post-course assignments - practical tasks to be completed as part of your licence requirements;
• two days of classroom training and interaction;
• Radar login for 12 months (this is the Strategi Institute online education platform);
• exposure to relevant software solutions;
• a Strategi Institute certificate for course completion; and
• morning and afternoon teas.

Course length and structure

The course is taught over two full days via a face-to-face classroom workshop, with the remainder of the course completed online. The online work involves the completion of four assignments specifically relating to your business plus additional reading from the course manual. The total duration of the course is 14 weeks.

The two-day workshop involves discussions, individual and small group exercises, case studies, and assignment-based work which applies the learning to your organisation.

You will have some preparatory reading to do before the workshop and will need to complete a questionnaire providing background on your FAP to help us tailor the course learning appropriately.

NZQA certificate and CPD hours

Course graduates will receive an NZQA accredited micro-credential certificate worth 10 credits:

Governance for Financial Advice Providers (Small Business) (Level 6) Microcredential

You will also be awarded 46 CPD hours.