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Training + Support Systems  Learning Courses Module 5
Module 5 Business and Professional Practice Succession Strategies The decision to keep, sell or simply close a Business or a Professional Practice (Business/Practice) is based on a number of critical factors involving emotional and commercial issues in the event of the retirement, illness or death of a Principal of a Business/Practice. This programme strives to "bridge" the gap in Succession planning by providing discovery, analysis and presentation skills and processes to enable a financial intermediary to advise a Principal of a Business/Practice in respect to their retirement, illness or death (RID) succession planning. Whilst most Principals of a Business/Practice recognise the need for Succession Planning in the past many advisers have not had the correct training and process to provide a systematic and appropriate Succession Planning advice. Furthermore, AFSL Licensees have not had the correct platform to support financial intermediaries. This programme raises the standard of quality advice to Principals of a Business/Practice by providing information, learning and implementation resources to enable financial intermediaries to meet their education, professional and regulatory obligations for profitable outcomes. Outline of the Programme This full day programme will enable a participant to: - Principal Dependent Practices - Family Businesses - Professional Practices Sell or Liquidate for the advice given in respect to Succession Planning Programme Content
Who should attend? - Financial Product Issuers - Australian Financial Service Licensees - Stockbrokers - Accountants - Financial Advisers - Business Clients and Owners Features - Peer group learning - BOFIN - SMSF - Licensed materials - including Discovery, Analysis and Report Writing Tools - Learning activities, case studies and application based learning delivery - Facilitated delivery - through expert practitioners - Use of online subject rooms and discussion forums - References to additional publications, bulletins, websites and relevant legislation - Ongoing BOFIN support Benefits in respect to Business Succession Planning Sophisticated Clients Competencies Upon completion of this course, participants will gain the following competencies from the Financial Services Training Package (FNS04):
Additional information To provide advice in Succession, advisers must also complete an approved Tier 1 course in Financial Planning to meet RG 146 requirements Assessment Should a certified pathway to an Advanced Diploma in Financial Services be required participants will be evaluated through two major assessments set out below. Each assessment is worth 50% of the total course mark. Examination If a certified pathway is required, an open-book examination, covering all course content contributes 50% to the total course mark. Designed to assess knowledge as well as analysis and process skills, this exam consists of a series of multiple choice and short answer questions in relation to actual case studies sourced from practitioner past experience and modified in line with privacy principles. Assignment If a certified pathway is required, one or more hypothetical case studies about which you will be asked to address questions related to a Business Client, their family and their business particular circumstances contribute 50% to the total course mark. Delivery Facilitated Learning through Peer Group Learning with comprehensive, self paced learning materials including examples case studies, template checklists to achieve the required assessment tasks. Assumed Knowledge Participants should have a sound understanding of superannuation and have already achieved ASIC RG146 compliance to provide advice in superannuation. It is desirable that participants are also RG146 compliant in life insurance, Financial Planning and managed investments and have the relevant work experience to relate to Business Clients. CPD Points This course may contribute to your continuing professional development obligations under RG146. ili assigns ten (10) CPD points to the course and provides a CPD statement to advisers who achieve competency in the assessment tasks. Fees Price on Application How to enrol You can enrol at any time up to four weeks prior to the commencement of the programme. Assessment dates are offered [TBA]. Enrolment forms and assessment dates are available on www.ili.com.au or you can enrol online at www.ili.com.au. |