Graduates of the High Net Worth (HNW) Certification programme were formally recognised at the Insurance and Financial Practitioners Association of Singapore (IFPAS) 2023 High Net Worth (HNW) Certification Graduation Ceremony.
The HNW Certification is designed for financial advice practitioners and executives looking to deepen their understanding of the rapidly expanding HNW sector in Asia-Pacific. Delivered by IFPAS in partnership with its international education partner Kaplan Professional Australia, it combines the academic rigour of higher education theory with practical and relevant outcomes centred on financial planning best-practice.
The HNW Certification takes some nine months to complete, but financial practitioners have the flexibility to plan their studies to accommodate their work and other commitments.
Continuous professional development
Mr Sim Willing, IFPAS President, said that to meet consumer expectations successfully, a continuous focus on developing the talent and skills of financial advisers is imperative. This involves implementing ongoing training programs, workshops, and professional development initiatives within the financial advisory profession.
“In this dynamic landscape, it is not enough for financial advisers to rely solely on initial training and education. Instead, we must adopt a growth mindset, continually seeking opportunities to expand our knowledge and skill set. To do this, it is critical for our industry to foster collaboration and enter strategic partnerships where we access new ideas and capability to help our advisers be the best version of themselves,” he said.
“As we celebrate the success of our graduates, it is one example of a successful industry partnership. Tonight is a demonstration of how embracing higher education standards can exceed community expectations. Most importantly, industry-based education provides the tools that advisers need to navigate the complexities of today’s world and build a successful and sustainable business. Congratulations to all our successful Certified HNW Advisers!”
Mr Nick Hakes, Director of Market Development Asia, Kaplan Professional, said the HNW Certification is about equipping and helping advisers make the most of their opportunities in providing quality financial advice to HNW individuals.
Clients typically seek advice from a point of pain. “What if they sought financial advice from a point of opportunity?” he asked. “To do this, we need to operate with a social license. Education and professional standards is one possible driver of gaining that social license.”
“Wealth Management is at an inflection point. If we are to grow the demand for quality financial advice, the role of a financial adviser must change. This is an opportunity – not a challenge – for our profession to attract the next generation of advisers,” he added.
The inaugural Professional Excellence Award
Mr Tan Seng Chuan, IFPAS Vice President 2, also announced and launched the inaugural Professional Excellence Award for High Net Worth Certification graduates at the ceremony.
“We have a strong belief in showcasing the professionalism of financial practitioners through their commitment to lifelong learning, and this Professional Excellence Award enables us to identify those who are committed to self-development and focus on establishing quality business practices that provide exceptional advice and client experiences,” he said.
“When we first commenced the HNW Certification, our objective has always been clear that the measure of success is more than achieving a formal professional designation. The measure of success is our ability to grow the demand for quality financial advice, and in turn, grow the confidence and competence of financial advisers. The Professional Excellence Award encapsulates both elements of formal education and its practical application to grow the advice profession.”
Ms Annie See, Ms Cynthia Toh, and Mr Ellappan Elangkovan were shortlisted as finalists for the award. Ms Toh emerged as the inaugural winner of the Professional Excellence Award.
The 2023 High Net Worth (HNW) Certification Graduation Ceremony occurred on 28 July 2023. Learn more about the HNW Certification.
*All pictures courtesy of IFPAS
About the Insurance and Financial Practitioners Association of Singapore
Since 1969, the Insurance and Financial Practitioners Association of Singapore (IFPAS) has been the leading professional association for financial advisers. It represents the interests of its members on legislative, regulatory and policy-related matters. Its role is to advocate, innovate and inspire on behalf of its members to advance the financial advice profession’s social contribution and positively shape consumers’ perceptions of the financial services industry.
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