EFPA Aisbl Presentation

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High quality standards for competence and ethical behavior for the financial advisory and planning sector

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High quality standards for competence and ethical behavior for the financial advisory and planning sector

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INDEX

1. EFPA’s overall aims

2. In the interest of professionals and users

3. The EFPA Community: Europe and Beyond

4. Certificate holders, training institutions and corporate partners

5. EFPA Certifications

6. EFPA Synthesis

7. Self regulation and compliance on professional qualifications

8. An active stakeholder at financial European level

9. Other EFPA’s permanent tasks

10. The network of national affiliates

11. Adapted to each market reality

12. Benefits of EFPA certificates for financial institutions and professionals

13. An on going reality

14. Contact details

European Financial Planner Association

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1. EFPA’s OVERALL AIMS

EFPA is the largest and most respected professional licensing, standard setting and certification body

for financial planners and financial advisors in Europe and was the first European financial standards

association created for the purpose of increasing professionalism in the European financial services

sector.

With more than 60 European universities, banking and insurance institutes currently accredited by EFPA’s

wholly autonomous Standards and Qualifications Committee (SQC) [to offer the EFPA European Financial

Advisor and EFPA European Financial Planner Core Competence Framework], EFPA is a center of the

financial services educational framework regarding the training of banking, insurance and independent

financial advising personnel in Europe.

All examinations which may result in certification by EFPA are independently audited and accredited

by either the EFPA Standards and Qualifications Committee (SQC) and with the assistance of National

independent scientific committees responsible for accreditation in their respective countries.

2. IN THE INTEREST OF PROFESSIONALS AND USERS

EFPA is at the vanguard of consumer protection in financial services. We emphasize our commitment to

the ethical behavior of our certificate holders by requiring them to swear to abide by the EFPA Code of

Ethics.

The European Financial Planning Association (EFPA), created both in the interest of financial services

professionals and their users, aims to disseminate the discipline of personal financial advising and

planning among sector professionals and society in general, counting on the legal acknowledgement

and back-up of regulatory bodies, financial entities and professionals. By improving the training of sector

professionals and promoting the observance of the association’s code of ethics by its members, EFPA

aims to guarantee ethical and professional conduct.


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3. THE EFPA COMMUNITY: EUROPE and BEYOND

EFPA membership is the result of a detailed and demanding affiliation process to ensure the standards are

applied alike in each country with equivalent programs, exams, continuous education for recertification

and code of ethics.

• EFPA AUSTRIA

• EFPA BELGIUM

• EFPA CZECH REPUBLIK

• EFPA ESTONIA

• EFPA FRANCE

• EFPA GERMANY

• EFPA HUNGARY

• EFPA IRELAND • EFPA ITALY

• EFPA POLAND

• EFPA SPAIN

• EFPA UK

4. CERTIFICATE HOLDERS, TRAINING INSTITUTIONS AND CORPORATE PARTNERS

EFPA Affiliates may also promote the standards outside their respective countries. By doing so, EFPA is

also present in other European and non European countries.

EFPA Development varies from country to country being the focus not to grow by itself, but to grow in

a sustainable way ensuring the quality and the highest standard for the certifications. At present, more

than 50,000 professionals are holding already EFPA certifications or other marks accredited with EFPA

Standards, after just fifteen years since EFPA full establishment and twelve since EFPA exams and

certifications started.

Every year, around 4.000/5.000 professionals take the EFPA examinations. Across Europe, there are

already 60 accredited training institutions for the EFPA certifications. Also, 57 Corporate Partners:

financial institutions committed with the Certification.


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5. EFPA CERTIFICATIONS

European Financial Planner (EQF 6)

• Highest standard. Integrated practice of financial planning including estate

planning, international taxation, retirement and insurance needs, integration

of their own business valuation, in addition to a holistic financial advice. The

educational programs should be covered in a minimum of 320 tuition hours or

equivalent.

European Financial Adviser (EQF 5)

• Full (comprehensive) practice of financial advice. Refers to professionals who

offer a rigorous service of assessing clients needs and developing financial

solutions, particularly concerning investments (at portfolio level), but also

including insurance / retirement / credit / financing solutions. The educational

programs should be covered in a minimum of 160 tuition hours or equivalent.

European Investment Practitioner (EQF 4)

• Full practice on providing information on financial products (including complex

products) and a non sophisticated/occasional advice by assessing clients needs

and developing a financial solution based on non-complex products. The training

programs should be covered in a minimum of 64 tuition hours or equivalent.

European Investment Assistant (EQF 3) *

• Assistance to other professionals and provision of information to costumers on

non-complex products. The training program should be covered in a minimum of

32 tuition hours or equivalent.


EFP

EFA

EIP

EIA

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6. EFPA SYNTHESIS

• Setting standards

• Certification body

• Continuous education

• Ethics commitment

• For Financial advice and planning in European financial services.

7. SELFREGULATION AND COMPLIANCE ON PROFESSIONAL QUALIFICATIONS

• Promotes self regulation for personal financial advice and planning services in the light of:

- The growing expansion of the financial advice and planning services’ industry pushed by an increasing

demand.

- The support of an industry, committed to advice and added value financial distribution.

• Support compliance to regulation requesting qualifications on Knowledge and Competence for

Investment professionals (both advising and informing on investment products).

For example: MiFID II and ESMA Guidelines.

1. Article 25, MiFID II

Assessment of suitability and appropriateness and reporting to clients

Member States shall require investment firms to ensure and demonstrate to competent authorities on

request that natural persons giving investment advice or information about financial instruments,

investment services or ancillary services to clients on behalf of the investment firm possess the

necessary knowledge and competence to fulfil their obligations under Article 24 and this Article. Member

States shall publish the criteria to be used for assessing such knowledge and competence.

2. ESMA Guidelines for the assessment of knowledge and competence (December 17, 2015)


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8. AN ACTIVE STAKEHOLDER AT FINANCIAL EUROPEAN LEVEL

• Responding to consultation papers of European regulators (MiFID II, ESMA Guidelines and technical

norms, Roboadvisors, etc.).

• Networking to other stakeholders such as Financial institutions, trade and employers’ associations,

consumer organizations, etc.

• Present at ESMA’s and national regulators’ consultative and advisory bodies.

• Press and professional events (as organist or lecturers).

• Designing surveys and ‘voice of the market’ analysis.

9. OTHER EFPA’s PERMANENT TASKS

• Participation at international conferences/seminars/forums increasing the visibility of the Association.

• Seek expansion of the Association through new affiliates and certificate holders.

• Support the national activities and congresses of EFPA’s Affiliates.

• EFPA Standards and Qualifications Committee (SQC): update and monitor the accreditation and

implementation of EFPA certifications.

• Newsletters, articles and presence in the media.

• Own events (2016: Taormina in May, Brussels in October, etc.).

10. THE NETWORK OF NATIONAL AFFILIATES

• At local level, EFPA’s affiliates perform a variety of activities such as:

• Promote the Standards in the market both, at professional (corporate partnerships) and educational

(accreditation of training institutions) level.

• Application of the Standards: assessment process.

• Updating and maintenance of the Certificate Holders’ register.

• Organization/participation in activities such as seminars, meetings or conferences.

• Be in contact with local authorities/regulators participating in any initiative related with the financial

advice or financial planning industry.

• Assorted services for associates (newsletters, discounts on certain products or services,

professional forums participation, legal and fiscal advice for certificate holders, etc.).


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11. ADAPTED TO EACH MARKET REALITY

Activities of each Affiliate are related to its size, stage of development and position in the local

market.

• Ireland and UK: being in a highly regulated market, their activity is to promote EFPA standards in

their countries, and to assure mutual recognition with official licenses.

• Austria, Belgium, Germany, Hungary: mainly focused on the certification activity and promoting the

profession.

• Czech Republic, France, Poland, Italy and Spain: certification and increasingly actives as

associations of certificates’ holders.

• Estonia and Baltic countries: just starting certification activities.

• Belgium: relaunching the affiliate activity.

12. BENEFITS OF EFPA CERTIFICATES FOR FINANCIAL INSTITUTIONS AND PROFESSIONALS

• Improvestaffcompetences:deeperunderstandingoffinancialproductsand better capability to explain

them to clients.

• Compliance(SpeciallyundernewEuropeanregulation).

• Increasetheeffectivenessofprofessionaltrainingthroughcertification.

• Increaseself-confidencewhendealingwithclients.

• Continuingprofessionaldevelopment.

• Europeanstandardsandgrowingnetwork.


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13. AN ON GOING REALITY (I)

Improving the competences of financial advisors and planners in benefit of the employer, the customer, the professional itself, the industry and its reputation.

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13. AN ON GOING REALITY (II)

Conferences and seminars


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13. AN ON GOING REALITY (III)

13. AN ON GOING REALITY (IV)EFPA certificates increases the employability of its holders.


Home > Certifikát FA™

Vstup do systému Home Certifikát FA™ P ípravn kurz Absolventi Fotogalerie Kontakt Partners © 2010 Vytvo il DesignBeat s.r.o.

Home Certifikát FA™ P ípravn kurz Absolventi Fotogalerie Kontakt

O certifikátu FA™Certifikát FA™, kter je zkratkou pro European Financial Advisor™, p edstavuje presti ní evropskcertifikát v oblasti finan ního poradenství a plánování, jeho získání je na jedné stran velmi náro né,na druhé stran ale p edstavuje záruku kompetencí v dané oblasti na v borné úrovni. Tento certifikát jeroz í en v mnoha evropsk ch zemích a od roku 2010 je mo né jej získat i v eské republice. Pro zdej ísegment finan ního poradenství a plánování se tak stává neopakovatelnou p íle itostí profesionalizace tétooblasti na evropskou úrove . Nároky v jednotliv ch tematick ch oblastech certifika ní zkou ky odpovídajíminimáln nárok m u vysoko kolsk ch p edm t zam en ch stejn m zp sobem.

Dal í informace o certifikaci FA™ poskytuje Mgr. Marta Gellová,p edsedkyn Rady FPA eská republika, e-mail:[email protected], tel.: +420 774 737 101.

Termín certifika ních zkou ekP edpokládan termín nejbli ích certifika ních zkou ek: 20.4.2016, 8.6.2016 a 14.6.2016.

Certifikát FA™Certifikát FA™

FPA Europe

FPA eská republika

Certifika ní zkou ka FA™

Systém dal ího vzd lávání FA™

Finan ní podmínky certifikace FA™

Zavedení certifikátu FP™

Získání certifikátu FA™Certifikát FA™ je ud lován organizací FPA Europe

prost ednictvím organizace FPA eská republika,která realizuje certifika ní zkou ky FA™,administruje systém dal ího vzd lávání a vykonáváadu dal í d le it ch úkol . Podrobné informace o

certifikátu FA™, o podmínkách jeho získání, pr b husamotn ch certifika ních zkou ek, cenov ch podmínkách a navazujících vzd lávacích projektech FPA eskárepublika, naleznete pod jednotliv mi polo kami v menu v levé ásti.

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13. AN ON GOING REALITY (V)

Delivering certificates all over Europe


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13. AN ON GOING REALITY (VI)

EFPA national meetings


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14. CONTACT DETAILS

• PHONE: +34 93 317 34 98

• ADRESS: Av Tarradellas, 123 2nd Floor.

08029 Barcelona

• E-MAIL: [email protected]

• WEBSITE: www.efpa-eu.org

• SOCIAL MEDIA: Twitter: @efpa_eu


Economy & Finance

EFPA Aisbl Presentation