Frequently Asked Questions (FAQs)

If you have any questions regarding Financial Service qualifications, CPD and how to improve the profitability of your organisation, please do not hesitate to Contact Us or call our Customer Care Centre on 008 93 25 67.

  1. Why learn with us?
  2. Do I need to be qualified to give advice?
  3. What qualification should I get?
  4. What are the Compulsory courses?
  5. What elective can I choose from?
  6. Is the Certificate recognised in Australia?
  7. How do I complete the Certificate?
  8. How long will the Certificate take to do?
  9. Should I study in a workshop with a facilitator?
  10. Should I study by distance learning?
  11. Can I choose to do one course by distance learning and another in the workshop?
  12. Can I receive recognition of prior learning (RPL) for courses I have already done?
  13. Can I receive recognition of competency (RCC) for my industry experience?
  14. Can I do a challenge test rather than study a course?
  15. What can I print on my business card?
  16. How are courses assessed?
  17. What is the pass rate for assignments?
  18. When are examinations held?
  19. Do I need to belong to a professional body?
  20. Which professional body should I choose?
  21. What course should I do to become a member of my professional body?
  22. Is the Certificate endorsed by the professional industry associations?

1. Why learn with us?

AdviserLink is the pre-eminent provider of quality vocational education, professional development and business services to the NZ financial services industry.
Learn with us because of our:

  • Vocational education pathways. Specific education pathways aligned with, and endorsed by, professional associations.
  • Strategic alliances. Licensing agreements with other service providers to source the best options in the Australasian market to suit local conditions.
  • International standards . . . local flavor. Some course and services are designed from the ground up ... with others selected from an international forum and kiwi-ised for NZ conditions
  • SME or Corporate business. All of our learning and business services can be tailored to meet the needs of the SME business sector or larger corporates.
  • Learning options. Learn through open-entry workshops, in-house customised training, online or distance learning
  • Regionally available. Auckland, Christchurch, Wellington, and Hamilton. .. or put a group of 10 together and we’ll come to any area
  • Group learning discount options. Discounts available for group bookings of 3 or more from the same company – and through partnership programmes.
  • Pricing options are competitive and accessible. Reaching a wide audience tailored to suit all budgets.
  • NZQA accreditation. Adviserlink is a registered Private Training Enterprise (PTE) with NZQA. The Certificate in Financial Services is an NZQA approved course under the provisions of the Education Act 1989, and Adviserlink is accredited to teach it.

“Our core competence is in providing education andtraining to financial advisers and their staff to ensure they provide their own clients with quality and professional advice through best practice principles”
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2. Do I need to be qualified to give advice?

The Securities Commission specifies that those providing advice to retail clients need to disclose their qualifications before any advice can be given.
The investment adviser disclosure laws set out in Part 4of the Securities Markets Act 1988 require thatfrom 29 February 2008, advisers and brokers must provide a Disclosure Statement to a client before any advice is given whichincludes:

  • specific information about the adviser including their experience, qualifications and professional standing;
  • the products they are recommending;
  • how they are paid; and
  • any conflicts of interest, including commissions.

Share brokers, financial planners, lawyer, accounts and other people are captured by the new law, if they give investment advice to the public.
The Securities Commission can take enforcement action against advisers or brokers who do not provide a disclosure statement with the required information, orwhose advertising is deceptive, misleading or confusing. The Commission willhave the power to enforce the new requirements and make prohibition orders,corrective orders, disclosure orders and temporary banning orders. The Courtswill be able to make orders banning people from acting as investment advisersfor up to 10 years.
Failure to comply with the disclosure obligations is an offence with fines of up to $300,000. Civil penalties of up to $1 million can be imposed by the Court.
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3. What qualification should I get?

The Certificate of Financial Services (Level 5) allows you to achieve professional standards in line with recognized best practice.  It provides FinancialAdvisers, Financial Planners and Brokers (including Mortgage Brokers) with a recognised qualification to build their skill and knowledge level and lays the foundation to help prepare for a future regulatory environment.
The Certificate of Financial Services (Level 5) is approved by the New Zealand Qualifications Authority (NZQA) under the provisions of the Education Act 1989, and Adviserlink is accredited to teach it. It consists of five compulsory units anda minimum of four electives.
Upon successful completion, you will be qualified to provide a range of financial services to consumers. The Certificate of Financial Services (Level 5) is a nationally recognised industry-based qualification that is portable and naturally staircases to other qualifications and industry association designations such as the Certified Financial Planner (CFP) and Certified Life Underwriter (CLU) and Chartered Fellow of Financial Practitioners (ChF(FP)).
You can study the Certificate of Financial Services (Level 5) in two ways:

  • Workshop face-to-face ($4,360)
  • Distance Learning($2,360)

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4. What are the Compulsory courses?

The following courses are a compulsory part of the Certificate of Financial Services (Level 5) programme.

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5. What elective can I choose from?

The following courses are an elective part of the Certificate, allowing you to tailor your study to your professional needs and direction.  Four of these courses must be completed as part of your Certificate of Financial Services (Level 5) program of study.

The Certificate of Financial Services (Level 5) is approved by the New Zealand Qualifications Authority under the provisions of the Education Act 1989, and Adviserlink Learning Ltd is accredited to teach it.
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6. Is the Certificate recognised in Australia?

The Certificate of Financial Services (Level 5) is mapped to various units of competency that make up the Australian Diploma in Financial Services (Financial Planning) and is recognised in both New Zealand and Australia.
To be awarded the Australian Diploma in Financial Services (Financial Planning), you will need to successfully complete two Australian courses in addition to the Certificate of Financial Services (Level 5), being :

  • Generic Knowledge; and
  • Superannuation.

These courses are necessary for you to become familiar with Australian regulatory requirements.
Please Contact Us if you would like to undertake these two courses and we will arrange our affiliated training providers in Australia to help you achieve a duel qualification.
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7. How do I complete the Certificate?

These modules can either be done through face to face learning or through the Adviserlink distance learning programme with the exception of ‘Advice Process’ courses which are workshop based only.
There are no pre-requisites or co-requisites for any of the Adviserlink courses; however, there is a recommended order of completion, as outlined in the following table:

Complete…

Before Attempting…

NZFS Industry Essentials (Entry Level) or Mortgage Broking Essentials

any other course

Fundamentals of Investments

Investment Planning

Practice Management and Personal Risk Management

Business Financial Solutions

Advice Process I

Advice Process II

Advice Process II

Advice Process III

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8. How long will the Certificate take to do?

Participants need to complete 4 mandatory components and 4 elective components within 2years (approx 400 hours of total student effort). It is strongly recommendedthat this programme is supported through an approved mentoring or coachingprogram.
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9. Should I study in a workshop with a facilitator?

Interactive workshop courses are the fastest way to achieve your qualification. You can choose to attend workshop courses in quick succession or attend individual courses over several months.
Training is delivered regularly to small groups of students in Auckland,Christchurch, Wellington and Hamilton. Workshop courses are ideal to help you manage your time, want support and like to network. Facilitators are skilled at making the workshop experience interactive, interspersing real life examples to stimulate interest.
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10. Should I study by distance learning?

Self-paced distance learning is ideal if you are remotely located, returning to the industry or just can't take the time off work. Distance learning is also approximately half the cost of workshop courses, but you will need to allocate regular study times and be self-disciplined.
You will be assigned an experienced professional facilitator and financial planner, who will be available by telephone and email to provide speedy assessment feedback. You will have four months to complete each distance learning course from the date of enrolment. You can apply for an extension in writing so long as your application is received within this four month period.
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11. Can I choose to do one course by distance learning and another in the workshop?

Yes. Whether you do a course by Workshop or by Distance learning is your choice. You may even upgrade from Distance Education to a Workshop Course by advising us in writing and paying the difference in price.
Similarly, you can enrol to do a Workshop Course, change your mind to do Distance Education and receive a refund for the difference in cost. Do remember to give us at least three weeks notice of your intention to cancel your place in the Workshop, otherwise cancellation fees will apply.
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12. Can I receive recognition of prior learning (RPL) for courses I have already done?

Yes. AdviserLink recognises all previously attained qualifications and/or statements of attainment awarded by other universities, polytechnics or private training enterprises for courses or subjects that have equivalents in the Certificate of Financial Services (Level 5).
For pre-enrolment RPL approval, please provide a copy of your previously attained qualifications and/or statements of attainment using the fax number or postal address shown in Contact Us.
If you apply for RPL as part of your enrolment, check the RPL tick box and course fees will be calculated assuming that your RPL application is successful. If, upon receipt of your previously attained qualifications and/or Statements of Attainments, your RPL application is not accepted, you will be notified and arrangements made for you to enrol and pay for the course in question.
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13. Can I receive recognition of competency (RCC) for my industry experience?

Yes. If you have limited formal education, but have worked continuously for 5 out of the past 8 years in the financial services industry, you can apply to have this skill and experience formally recognised through competency assessments. Recognition of Current Competence enables you to gain credit for prior training or work experience by undertaking an assessment-only pathway through challenge tests or workplace assessments.
Adviserlink mainly uses Portfolio of Evidence assessments across multiple competencies and other performance criteria to assess your competencies. This can be established in four different ways:

  1. You may have an approved supervisor, mentor, or manager complete and sign a statement verifying your competence.
  2. You may have an approved supervisor, mentor, manager, or experienced practitioner observe and report on your skills in a client interview or role play situation.
  3. You can arrange for an Adviserlink assessor to observe and report on your skills in a client interview or role-play situation.
  4. You can apply for Recognition of Prior Learning, or Recognition of Current Competence, by providing physical evidence of your competency from past courses and/or experiences.

If you believe you are eligible, please apply in writing to Adviserlink Education Services Team and include any evidence of prior training or work experience
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14. Can I do a challenge test rather than study a course?

Yes, if you meet the five out of eight rule (has worked continuously for 5 out of the past 8 years in the financial services industry) and are prepared to ’challenge’ the courses, you can apply to challenge any of the components of the Adviserlink courses.

A Challenge Assessment generally includes a 2-hour closed book competency based exam of multi-choice questions. You may also be required to complete a case study assignment, a videoed role-play, and/or present a portfolio of evidence depending on the competency being assessed.

There are no study materials for these assessments, however, you will be provided with challenge assessment guidelines and a clear description of the competency standards that are being assessed. You have the option of purchasing a set of course materials from Adviserlink to help prepare for Challenge Assessments.

Learners are required to demonstrate an 80% pass in all modules of the exam or assessment. For example; if a challenge exam contains 5 modules, the learner will be required to pass all 5, not 4 out of 5, or 3 out of 5, and so on, even though the overall mark may be 80%. If this is not achieved the learner will be permitted to have one second attempt at the failed modules. A second failure means the learner will be required to complete the entire course and pay a full course fee.

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15. What can I print on my business card?

Once you have been awarded the Certificate of Financial Services (Level 5), you can use a post nominal on your business card, resume and letter head to convey your qualifications.
While there are no hard and fast rules about how you abbreviate this qualification, some examples include Certificate of Financial Services (Level 5), Certificate FS, Cert.FS (Financial Advising), Cert.FS(FA) or even CFS (Financial Advising).
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16. How are courses assessed?

All Adviserlink courses have a number of elements that comprise the competency assessments that must be successfully completed before a Certificate of Competence can be issued.
Most courses include both an assignment and a examination
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17. What is the pass rate for assignments?

A score of at least 60 % in all competency sectors is required to successfully pass an assignment; however, a significant mistake in an important area can result in a requirement for resubmission. An assignment will not be graded as a pass unless all of the key competencies have been demonstrated to an acceptable level.
Assignments that are graded as ‘not yet competent’ will be returned for completion or correction. The first resubmission will be re-graded without further charge. Adviserlink will accept only one re-submission of an assignment. Two failures to produce a satisfactory assignment will result in failure of the course.
Assignments will be returned, including any feedback for improvement or areas of development. It is recommended a copy is made of all assignments before submission/resubmission to Adviserlink.
Assignment results can be expected within three (3) weeks of receipt ofthe assignment by Adviserlink.
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18. When are examinations held?

If enrolled in a facilitated course you will normally sit the relevant exam at the conclusion of the course at the course venue (unless otherwise specified in your welcome letter).
For Distance Learning, set dates and venues are pre-arranged at the commencement of your course of study. Exams for distance learning must be sat within 1 month of the completion of your course of study. Your exam date and venue will be confirmed on your welcome letter, unless independent suitable supervisory arrangements are agreed upon. You are expected to attend this designated exam sitting. In special circumstances, and at Adviserlink’s discretion, extra exam sittings may be scheduled.
Online exam results are notified immediately.
Paper based exam results will be available within four (4) weeks of receipt of the exam paper.
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19. Do I need to belong to a professional body?

The Financial Advisers Bill will require all advisers to be a member of an Approved Professional Body (APB).
The new Financial Advisers Bill (introduced to parliament on 5/12/07) will require financial advisers to:

  • Have the experience, expertise and integrity to match effectively a member of the public to a financial product that best meets that person’s need and risk profile;
  • Be a member of an Approved Professional Body (APB); and
  • Be registered on the Register of Financial Services Providers.

The bill establishes a co-regulatory regime for financial advisers, where the Securities Commissionand industry-based approved professional bodies will work together to create and monitor standards for financial advisers.  
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20. Which professional body should I choose?

You should investigate each association carefully and select an association that best meets your current circumstances, area of advice and future objectives.
Professional industry adviser bodies include the:

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21. What course should I do to become a member of my professional body?

Each professional body has their own unique requirements, so it is best to contact us to discuss your specific course options.
Advisers who want to belong to a professional body usually have to participate in the relevant vocational education programme as a condition of their membership. For example, the:

  • Institute of Financial Advisers (IFA) Education Track requires that all provisional members of both the College of Insurance Advisers and the College of Financial Planners complete a mandatory vocationaleducation and training programme.
  • Professional Advisers’Association (PAA) also requires its members to participate in an approved vocational education and training program.

The vocational education and training (VET) requirements by both of these professional bodies map to the competencies required at the Certificate if Financial Services (Level 5) currently offered by Adviserlink and to the Australian Diploma and Advanced Diploma of Financial Services (Financial Planning).
Individual AdviserLink courses can also help you meet the minimum standards of education and training for membership or certification with other associations such as the:

  • Insurance Brokers’ Association of NewZealand (IBANZ);
  • New Zealand Mortgage Brokers’ Association (NZMBA); and
  • Society of Independent Financial Advisers (SIFA).

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22. Is the Certificate endorsed by the professional industry associations?

The Certificate of Financial Services (Level 5) has been endorsed by the:

  • Institute of Financial Advisers (IFA) and is mapped to their post-nominal educational pathway of Certified Financial Planner (CFP) and Certified Life Underwriter (CLU); and
  • New Zealand Mortgage Brokers’ Association (NZMBA) and is mapped to their educational pathway.

The Certificate of Financial Services (Level 5) is also mapped to the membership requirements of the:

  • Professional Advisers’ Association (PAA).

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Like to know more?

For more information on how you can become compliant, check out our Training Courses andcall our Customer Care Centre on 008 93 25 67 to speak to a qualified consultant today.
Book a coursenow!
Get yourself closer to Security Commission compliance today!
Book an AdviserLink course via our online registration and enrollment section. Payments for the course can be done online right now via credit card.
And because we have distance learning courses and workshop courses running in most major cities every few weeks, you are likely to find a course at a time and place convenient to you and your organisation.