Trust Services
Certificate in Trust Services

Designed for individuals who are interested to deepen their understanding of trust administration and wealth and estate planning

  • Next Intake:April 2021
  • Application Dateline:End-March 2021
  • Accredited:IBF Standards

The WMI Certificate in Trust Services (CTS) programme provides participants with a comprehensive overview of the wealth & estate planning industry in Singapore and the fundamental tools and solutions available to achieve their client’s long-term financial succession and preservation objectives.

Designed for individuals who are interested to deepen their understanding of trust administration and wealth and estate planning, as well as individuals who are keen to pursue a career in these areas, the WMI CTS programme is taught by highly qualified senior practitioners from the wealth and estate planning industry and covers topics including trust regulations and practices, taxation, client advisory and trust structuring, trust management and operations as well as risk management.

This programme has been carefully developed to align to IBF’s Industry Skills Framework for Financial Services – Private Banking and Wealth Management’s Skills and Competency standards. Upon successful completion of the programme, Singaporean and Singapore PRs will be eligible for funding subsidies under the IBF Standards Training Scheme (IBF-STS). The programme has also received recognition by the Singapore Institute of Legal Education (SILE) as being accredited against Private Client practice standards.

Curriculum

Modules Classroom Hours

This module provides a comprehensive overview of the wealth & estate planning industry. A good understanding of the features and characteristics of the wealth & estate planning tools and structures, applicable laws and regulations, are essential elements of a successful wealth planner. Lessons will be drawn from global industry trends and regulatory developments applied to daily work practices.

The international regulatory and compliance environment have been developing alongside the rapidly evolving industry. It is imperative for professionals in the industry to keep abreast of the latest legislative and regulatory requirements relevant to the industry, organisation, operational environment and individual roles. This module covers the emerging and changing regulatory and compliance frameworks governing estate planning and trustee services in Singapore.

This module provides an overview of global tax regimes and how they impact the administration of trust companies in Singapore. Fundamental taxation concepts like taxation of trust, domicile and residency will be discussed. Participants will gain broad perspectives of key tax concepts and the regulations relevant to wealth and estate planning.

In this age of enhanced regulatory requirements, trust companies have to be aware of the various regulatory changes that impact the growth of the trust business. This module imparts the practical knowledge and skillsets required during the client acquisition and on-boarding process. This module also dives into the industry best practices to uncover service opportunities and develop client loyalty and confidence in the organisation.

This module covers the principles and end-to-end processes involved in the administration, implementation and management of a trust. Participants will learn the relevant market laws and regulations as well as the industry best practices of organisation’s policies and procedures. This includes accounting, compliance, and methods used in the implementation and periodic performance review of the trust assets. The trustee’s fiduciary duty of care will also be discussed.

This module provides an overview of the compliance, monitoring and control functions in a trust company. Critical risk areas and fiduciary duties involved in the various stages of tax operations will be highlighted. Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) will be covered. Case studies will be used to enhance the learner’s understanding and application of risk knowledge.

Wealth planners need to have a good understanding of a client’s needs and objectives in order to provide sound advice and recommendations. This module prepares professionals to conduct meaningful evaluations of their clients’ needs using financial as well as non-financial information. Through the extensive use of complex multi-jurisdictional case studies, participants will learn key considerations in trust structuring and understand the various types of structure options and capabilities.

Singapore Institute of Legal Education (SILE)

Name of Progamme: Certificate in Trust Services
Practice Area: Private Client
Training Level: Foundation

The Certificate in Trust Services has been accredited by the Singapore Institute of Legal Education (SILE) for 33 CPD Points.

Participants who wish to obtain CPD Points are reminded that they must comply strictly with the Attendance Policy set out in the CPD Guidelines. For this activity, this includes signing in on arrival and signing out at the conclusion of the activity in the manner required by the organiser, and not being absent from the entire activity for more than 15 minutes. Participants who do not comply with the Attendance Policy on any particular day of the activity will not be able to obtain CPD Points for that day of the activity. Please refer to http://www.sileCPDcentre.sg for more information.

Certification & Funding

Upon successful completion of the programme and passing of all assessments, participants will be:

  • WMI CERTIFICATION

    Awarded the WMI Certificate in Trust Services

    FAA/SFA CPD

    Eligible for Core FAA/SFA CPD: 10 hours

  • IBF CERTIFICATION

    Eligible for the IBF Qualified (Level 1) Certification in Private Banking & Wealth Management (Product Solutioning and Management).

    *Terms and conditions apply. Please visit https://www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx for more information on the IBF Certification.

IBF Standards Training Scheme (IBF-STS) Funding

This programme is eligible for IBF-STS funding for direct training costs. T&Cs apply. Participants are advised to assess the suitability of the programme and its relevance to their business activities or job roles. Find out more on https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx

Fees

Certificate in Trust Services Full Fees (S$) Fees after 90% IBF-STS Courses Fee Subsidy
+ 5% IBF Credit (For Singaporeans / PR) (S$)
Company-Sponsored Self-Sponsored
Application Fee 85 85 85
Tuition Fees 6,420 720 321

1) A non-refundable application fee of S$85 is required upon online application submission.

2) The fees listed above are after IBF-STS funding (95% till 30 June 2021). Any discrepancies in registration details or failure to meet minimum IBF academic requirements will result in an unsuccessful IBF reimbursement claim and students will be liable for the full tuition fees of S$6,000.00. For funding eligibility criteria and more information regarding the funding, please visit https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx.

Who will Benefit

Senior Trust Administrator, Wealth and Estate Planner, Trust Relationship Managers, lawyers or other occupations that perform similar roles.

Participants who have enquired about the Certificate in Trust Services also considered these programmes:

1. Advanced Certificate in Trust Services

2. Family Office Programme

Programme Calendar

Certificate in Trust Services (2021) Time
6th May, Thursday 9am – 5pm
7th May, Friday 9am – 4pm
8th May, Saturday 9am – 12noon
10th May, Saturday 12pm – 6pm
11th May, Tuesday 9am – 5pm
12th May, Wednesday 9am – 5pm
22nd May, Saturday 9am – 11am

 

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