ETITO System Now Available For Financial Advisers

ETITO Registration And Booking System Now Available For Financial Advisers

ETITO is pleased to announce the availability of the registration and booking system for financial adviser competence assessment. The system allows financial advisers to make examination and workplace assessment bookings, upload evidence for competency assessment and check examination and assessment results. The system, which also allows organisations to bulk register and purchase assessment for staff, is available at www.afacompetence.co.nz

The registration and booking system forms part of ETITO’s centrally-administered assessment system that will be operational from 01 June 2010. Effective immediately, financial advisers and organisations can register with ETITO and book examinations and workplace assessments throughout the country for Standard Sets A, C, D and E during the period covering 01 June 2010 – 31 July 2010. ETITO will be accepting reservations for Standard Set B assessment in the coming months.

“This system launch marks another significant milestone in the development of the competence assessment system supporting financial adviser authorisation,” says Michael Frampton, ETITO Manager – Strategy and Corporate Relations. “The launch is timely, because advisers need to be taking action now to ensure that their competence can be assessed in the time that is available before the regime is fully implemented. Advisers who delay their entry into the assessment system may not have time to address any gaps that they may have in their competence and secure a re-sit opportunity in the time available.”

ETITO released a self-evaluation tool to financial advisers in January. The tool provides advisers with an indication of any current knowledge and / or skills gaps that they might have across a range of unit standards contained within the National Certificate in Financial Services [Financial Advice] [Level 5]. “We’ve had over 850 financial advisers use the ETITO self-evaluation tool,” said Frampton. “Just over 50% are ready to prepare for assessment now. The remainder are in need of some training intervention, a review of their adviser business practice, or both.”

“Although the Code for Professional Conduct is not yet finalised, there is a considerable amount of work that advisers and industry organisations can be undertaking now,” said Frampton. “ETITO recommends that financial advisers use the self-evaluation tool at www.afacompetence.co.nz, review the competence standards required for authorisation, reflect on their own advice-giving process to consider the extent to which they can produce the evidence required for workplace assessment, and talk to a training provider if training is required.”

ETITO will be releasing further assessment booking capacity in the near future. Financial advisers who feel that they are not ready for assessment can register within the system and access the candidate guide to assist in their preparation for assessment.

Financial advisers who want to be informed should subscribe to the RSS feed on the latest news page at www.afacompetence.co.nz. Alternatively, advisers can email financialservices@etito.co.nz and join the contacts database.

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