Banking & finance body rolls out revised standards for financial planners

Singapore

AS PART of a wider move to inject uniformity and greater professionalism into the financial advisory industry, the Institute of Banking and Finance Singapore (IBF) has rolled out a revised set of competency standards for financial planning, together with stakeholders.

The IBF Standards for Financial Planning, which took 15 months to develop, is aimed at providing a clear professional development roadmap and certification pathway for the 18,000 to 20,000 financial planners here.

Besides the usual core skills relating to cash management plus insurance and investment and retirement planning, the new IBF standards have introduced new competency areas such as financial planning for high net worth individuals and business owners, as well as ethical principles in the financial advisor…