ETITO launch new self-evaluation tool
8/01/2010
ETITO, the industry training organisation for the financial services sector has launched a self-evaluation tool for financial advisers.
This tool will help advisers evaluate their own level of competence against the minimum unit standards proposed for authorisation under the new regulatory regime, and will indicate what training is required. Please note that the self-evaluation tool is not a ‘test’ and doesn’t count towards any assessment for the National Certificate in Financial Advice (Level 5). Rather it is a process of self-reflection and self-evaluation.
The tool will identify gaps in an advisers knowledge, abilities and skill within the National Certificate (developed by ETITO) and more specifically within Standard Sets A, C and D of the Certificate. (NB: Standard Set B is not covered by the questionnaire as it refers to the Code of Professional Conduct and is currently under development.) For further information about the unit standards, click here.
Sovereign has consulted extensively with ETITO in the design and content of the tool, and many of our advisers ─ making up approximately one quarter of all market testers ─ participated in the pilot process and have provided valuable feedback and suggestions.
To take full advantage of the tool, advisers should answer all questions honestly and provide answers that apply to their current practice, rather than what is perceived to be the correct answer. There is a $28+GST fee to access the self-evaluation tool and once completed a profile report listing full results and highlighting any gaps in current knowledge, abilities and skills will be emailed.
Note, while ETITO are collecting and storing the results, they make the distinction that the data submitted is only available to them in an aggregated form to plan for the future use of assessment and evaluation, and is not stored at an individual level. To access the tool and evaluate your own level of competence against unit standards proposed for authorisation, click here.
Sovereign continues to work with key organisations like ETITO, the Securities Commission and the Code Committee to ensure the implementation of the new regulatory regime balances the needs of all interested parties, whilst promoting the sound and efficient delivery of financial advice and encouraging public confidence in the professionalism and integrity of financial advisers.