Are you compliant with the new fiduciary standard?
If you are involved in trusts, wills and estates, you need to know that there is a new professional designation which will soon become the de facto standard for fiduciary in South Africa.
The Fiduciary Practitioner of South Africa® (FPSA®), introduced by the Fiduciary Institute of Southern Africa (FISA) in 2011, indicates that, apart from the qualifications you have, you have demonstrated the ability to act as a professional in the highly technical fiduciary field. Read more about FPSA® here.
How do I become an FPSA®?
As the FPSA® designation is proprietary to FISA, it is only awarded to FISA members. FISA members must have at least three years of practical experience in the fiduciary field and must comply with ethical requirements to apply to FISA for the FPSA® designation to be awarded to them.
As from 2018, anyone who wishes to apply to FISA for the FPSA® designation will first have to enter and successfully complete the Advanced Diploma in Estate and Trust Administration which has been offered by The School of Financial Planning Law (SFPL) at the University of Free State since 2015. Please note that applications for the 2019 diploma course can be made between 1 June 2018 and 15 January 2019.
Highest ethical and professional standards
As a non-profit organisation, FISA’s sole focus is to advance the interests of fiduciary practitioners and the public. We do this inter alia through regular contact and co-operation with regulators like the Master of the High Court and SARS, and active engagement in and comment on new legislation.
Resources like articles on technical matters in the industry, relevant court cases, training courses, and other events are available to members. Members are subject to the FISA Code of Ethics and a Continuing Professional Development (CPD) programme
The FPSA® designation is a mark of quality and peace of mind for consumers of fiduciary services in Southern Africa as they will know that they are dealing with a person who has demonstrated:
Academic knowledge by obtaining a formal qualification and the required level of appropriate experience
- The ability to apply the knowledge
- A willingness to be bound by the ethical standards of a profession
- A commitment to maintain levels of technical knowledge through a continuing professional development (CPD) programme.
*Please note that this a sponsored article.