Qualification Overview

Qualification Title New Zealand Certificate in Financial Services (Level 5) with strands in Investment; Life, Disability, and Health Insurance; General Insurance; Residential Property Lending; Personal Lending; Banking; and Trustee Services
Qualification Type Certificate
Level 5
Credits 60 - 65
Subject Area
  • Management and Commerce » Banking, Finance and Related Fields » Banking and Finance
Strategic Purpose Statement
The purpose of this qualification is to provide the financial services industry with individuals who have specialist operational and theoretical knowledge, competency, and skills in financial services.

This qualification is suitable for individuals who are working in or who intend entering the financial services industry. It is an appropriate qualification for those seeking to advance to specialist roles and/or enhance their skills and knowledge within retail and personal services areas of the financial services industry.

Depending on the strand achieved, graduates will be capable of providing individualised financial advice to meet clients' personal needs in roles in: Investment; Life, Disability, and Health Insurance; General Insurance; Residential Property Lending; Personal Lending; Banking; Trustee Services.

Graduates of the General Insurance strand will also be capable of providing advice to domestic and small business clients.
Graduate profile
Graduates of this qualification will be able to:

- Apply good conduct obligations in client interactions, including the advice process and the key elements of legal, ethical, and professional obligations.
- Provide a range of financial advice solutions to clients using knowledge of key financial institutions, systems, markets, and products/services.
- Provide a range of financial advice solutions using knowledge of key factors in the economic environment that impact participants in the financial services sector.
- Interpret applicable provisions in the regulatory framework to use when providing Financial Advice and Financial Advice Services.

Graduates of the Investment strand will also be able to:
- Provide investment services using knowledge of investment concepts, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Establish, analyse, and review a range of personal investment needs, objectives, risk tolerance, and priorities.
- Analyse investment products, structures, options, benefits, risks, and limitations when developing solutions to a range of personal investment needs.
- Develop solutions to personal investment needs using knowledge of the relationship between the economic environment and events, investor perceptions, and investment products.
- Apply the Six Step advice process to provide advice in an investment context.

Graduates of the Life, Disability, and Health Insurance strand will also be able to:
- Provide life, disability, and health insurance services using knowledge of life, disability, and health insurance concepts, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Establish, analyse, and review a range of personal life, disability, and health insurance needs, objectives, risk tolerance, and priorities.
- Analyse life, disability, and health insurance products, structures, and options; Government support agency benefits; and potential non-insurance solutions when developing solutions to a range of personal life, disability, and health insurance needs.
- Provide life, disability, and health insurance services using knowledge of the processes of the application, underwriting, issue, maintenance, claims, cancellation, and ending of life, disability, and health insurance contracts
- Apply the Six Step advice process to provide advice in a life, disability, and health insurance context.

Graduates of the General Insurance strand will also be able to:
- Provide general insurance services using knowledge of general insurance concepts, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Establish, analyse, and review a range of personal, domestic, or small business general insurance needs, objectives, risk tolerance, and priorities.
- Analyse general insurance products, structures, and options; Government support agency benefits; and potential non-insurance solutions when developing solutions to a range of personal, domestic, or small business general insurance needs.
- Provide general insurance services using knowledge of the processes of the application, underwriting, issue, placement, maintenance, review, claims, cancellation, and ending of general insurance contracts.
- Apply the Six Step advice process to provide advice in a general insurance context.

Graduates of the Residential Property Lending strand will also be able to:
- Provide residential property lending services using knowledge of residential property lending concepts and principles, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Establish, analyse, and review a range of residential property lending needs, objectives, risk tolerance, and priorities.
- Analyse residential property lending products, structures, and options, when developing solutions to a range of residential property lending needs.
- Develop solutions to residential property lending needs using knowledge of the relationship between the economic environment and events, the residential property market, and the impacts on residential property lending.
- Apply the Six Step advice process to provide advice in a residential property lending context.

Graduates of the Personal Lending strand will also be able to:
- Provide personal lending services using knowledge of personal lending concepts, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Develop solutions to a range of personal lending needs using knowledge of the relationship between personal lending products and individual's needs.
- Develop solutions to personal lending needs using knowledge of key lending concepts and frameworks.
- Apply the Six Step advice process to provide advice in a personal lending context.

Graduates of the Banking strand will also be able to:
- Provide banking services using knowledge of banking concepts, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Establish, analyse, and review a range of banking needs, objectives, risk tolerance, and priorities.
- Analyse banking products, structures, and options when developing solutions to a range of banking needs.
- Develop solutions to banking needs using knowledge key lending concepts and frameworks.
- Apply the Six Step advice process to provide advice in a banking context.

Graduates of the Trustee Services strand will also be able to:
- Provide trustee services using knowledge of trustee concepts, legislation, regulations, codes of conduct; and the purpose, responsibilities and roles of participants.
- Establish, analyse, and review a range of trustee services needs, objectives, and priorities.
- Analyse trustee products, structures, and options when developing solutions to a range of trustee services needs.
- Carry out trustee administration responsibilities
- Apply the Six Step advice process to provide advice in a trustee services context.
Education pathways
This qualification may follow on from the New Zealand Certificate in Financial Services (Level 4) with strands in Banking, Family/Personal Budgeting, and Insurance [Ref: 2247].

Graduates may progress onto higher level qualifications in financial services.
Employment pathways
Graduates may be qualified to work within specialisations such as:
- Investment strand: Investment adviser, paraplanner, investment adviser support, business development manager
- Life, Disability, and Health Insurance strand: Life, disability, and health insurance adviser, technical specialist, adviser support, business development manager.
- General Insurance strand: General insurance adviser, general insurance broker, technical specialist, adviser or broker support, business development manager.
- Residential Property Lending strand: Mortgage broker, technical specialist, broker support, business development manager.
- Personal Lending strand: bank lending adviser, non-bank lending adviser, lending adviser support, business development manager.
- Banking strand: personal banker, personal banker support, bank lending adviser, branch manager (retail),
- Trustee Services strand: trust manager, trust officer, business development manager.
Entry Requirements
TEOs arranging training or delivering programmes towards this qualification must ensure that the training arranged and programmes of learning delivered are kept up-to-date with regard to amendments to, and replacements of, relevant legislation, regulations and ISO/Australia/New Zealand Standards.

For the purposes of this qualification, references to 'banking' and derivatives of that term are intended to include a range of organisations and institutions that provide similar services and products, including registered banks, non-bank deposit takers, and non-bank lenders.

The Six Step advice process referenced in this qualification is documented in Standard ISO 22222:2005 Personal Financial Planning - Requirements for Personal Financial Planners. However, candidates are not expected to know and apply this at the level of detail that is contained in the formal ISO 22222 Standard document. An appropriate level of working knowledge is available in many summarised forms that are published by local and international financial planning industry participants.
Education Organisation 5 Organisations can assist in gaining this qualification
Developed By The Skills Organisation
Quality Assured By New Zealand Qualifications Authority
Number 2315
Status Current
Created October 2014
Next Review January 2024
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