CAREER GUIDE MANUAL - Inseta

14c) Professional qualificationsFinancial planning practitioners who have successfully completed thePostgraduate Diploma in Financial Planning at the University of theFree State or the University of Stellenbosch may apply to the FinancialPlanning Institute of Southern Africa (FPI) to be registered as certifiedfinancial planners (CFPs). The CFP is an international credentialissued by the Certified Financial Planner Board of Standards in theUSA (and its authorised licensees around the world) and is the highestprofessional designation awarded to a financial planner. Candidatesare admitted only if the FPI declares them to be “fit and proper“persons who participate in continuous professional education andupon payment of membership fees. The FPI also awards thequalification of associate financial planner (AFP) to graduates whohave achieved qualifications in financial advice and planning andhave two years relevant industry experience.1.4.4 Licensing requirementsFinancial advisors are required to apply for registration as financial servicesproviders with the Financial Services Board (FSB). Licensing requirements areset in terms of the Financial Advisory and Intermediary Services (FAIS) Act,37 of 2000, and include criteria for personal character (integrity andhonesty), education and training, competence and operational ability.1.4.5 EmploymentAlthough financial planners are employed by insurance companies, brokerfirms, banks and financial investment houses, many are self-employed andoperate small investment advisory businesses.4.2 INSURANCE BROKER OR AGENT 32.4.1 Nature of workAn insurance broker or insurance sales agent sells insurance policies andproducts to individuals, families and businesses to safeguard them againstfuture losses and possible financial risks arising from death, injury, accidents,3The information relating to the career of an insurance broker or agent was sourced from www.careers.co.za;www.kiwicareers.gov.nz; www.bls.gov; www.saia.co.za; www.fsb.co.za; www.ibcsa.org.za