Private Banking
Certified Private Banker Level 1

Comprehensive range of wealth management competencies and applied skills.

This Level 1 programme builds on essential knowledge from the Client Advisor Competency Standards (CACS) Study Guides and is designed to equip participants with the full range of required wealth management competencies and applied skills to serve High Net Worth (HNW) clients.

Curriculum

The body of knowledge in the level 1 curriculum develops comprehensive competencies and skills required to serve the high net worth segment.

You may select any single module or complete the programme in a schedule that best fits you. Modules are delivered through a blended learning pedagogy, building on interactive pre-class online learning for foundation concepts and knowledge, reserving classroom for skills application and topics that have higher complexity. Modules feature assessments to check for learning transfer covered in online and classroom sessions.

Modules Online Hours Classroom Hours Core / RRCE Hours

Amidst the wealth management transformation driven by changes in technology, regulations, demographics and heightened competition, there is now a greater need to be well-grounded in client management skills to successfully manage HNW client relationships. This module seeks to improve your ability to deliver a positive experience in all key stages of the HNW client journey from prospecting, on-boarding, advising and conducting on-going periodic reviews. This is a capstone integrating all modules within the level 1 programme.

To succeed in a landscape where artificial intelligence and data science technologies are disrupting financial services, you will be equipped with the digital skills needed by tomorrow’s wealth managers. Co-developed with IBM, this module is the first-of-its-kind to be customised for the Private Banking job family. The Level 1 content includes digital culture, mind-set, customer expectations, digital developments in finance, and digital safety.

Covered Persons operate in a regulatory environment that is constantly evolving. As such, you must first understand key rules and regulations, be guided by the Private Banking Code of Conduct, act professionally with integrity and competence when conducting business, and be aware of the consequences of breaching these rules. This online module covers the above, and promotes a paradigm shift towards a “conduct culture” instead of a “compliance culture”. Co-developed with the CFA Institute, you are required to resolve challenging ethical dilemmas using their Ethical Decision-Making Framework.

In the age of Fintech and Robo-Advisors, competition for share of HNW’s wallet becomes more intense. Staying relevant and raising the bar on provision of advisory services is more critical than ever. The module aims to enhance your skills in helping HNW clients make better informed decisions by taking into consideration their risk appetite, time horizon, financial needs, product suitability, obtaining HNW client’s agreement, and performing periodic reviews. This module also covers your role and obligations, and regulations governing the provision of investment advisory services.

The highly competitive wealth management landscape in Asia demands a prerequisite knowledge about the culture, current sensitivities, market dynamics and evolving regulations in key markets such as China, India and Indonesia. This elective module focuses on China, addresses differences in mind-set between generations of HNW clients, paradigm shifts as a result of internationalisation, essential skills to develop trust, and building long lasting relationships with HNW clients.

There are many risks in life, including death, divorce, disability or bankruptcy. This module aims to build your confidence to bring up purposeful wealth planning discussions with HNW clients, in partnership with relevant specialists, so as to uncover solutions that will protect their wealth for generations to come. It addresses topics such as basic legal and tax concepts used in wealth planning, the typical solutions available to facilitate fiscally transparent asset protection, residence planning, trust and succession planning.

Certification & Funding

Participant who successfully completes this Certified Private Banker Level 1 programme will be awarded:

  • WMI Certification

    WMI Certificate of Achievement

    CACS CPD hours (IBF-STS and Core FAA / SFA CPD)

  • IBF Certification

    Participant who successfully completes this Certified Private Banker Level 1 programme can apply with IBF for the certification title “IBF Qualified (Level 1) in Private Banking & Wealth Management (Relationship & Sales Management)”. T&Cs apply.

    Eligible for waiver of CACS CPD hours in the current and following year upon attaining IBF Certification.

    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

Every module 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 at https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx

Fees

Modules Revised Full Fees with GST
Effective 1 Jan 2021
(S$)
Fees after 90% IBF-STS Courses Fee Subsidy
+ 5% IBF Credit (Available till 30 June 2021)
(For Singaporeans / PR) (S$)
Company-Sponsored Self-Sponsored
CPBL1 – Client Relationship Management 2,086.50 234.00 104.32
CPBL1 – Digital Wealth Management 722.25 81.00 36.11
CPBL1 – Ethical Conduct 321.00 36.00 16.05
CPBL1 – Investment Advisory 1,364.25 153.00 68.21
CPBL1 – Market Specialisation 1,284.00 144.00 64.20
CPBL1 – Wealth Planning 1,364.25 153.00 68.21

Note:

For CPBL1 – Client Relationship Management module, a re-assessment fee of S$535 will be charged for additional role play assessment attempts.

The information above is correct at the time of publication. The Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.​

Who Should Apply

The Level 1 programme is designed for professionals with less than 3 years of experience in Private Banking (or serving the HNW client segment):

1. Client Advisors, Relationship Managers, Assistant Relationship Managers and all other Covered Persons
2. Private Client Relationship Managers, Senior Priority Relationship Managers in Consumer or Retail Banking
3. Insurance Advisors, Financial Consultants and Independent Financial Advisors
4. Product and Investment Specialists

New entrants and mid-career switch professionals should complete the CACS assessment before starting with the Level 1 programme.

Programme Calendar

In response to the ongoing COVID-19 pandemic, our Open run programmes will be conducted virtually. We will re-assess this as we monitor the situation and participants’ preferences.

Modules 2021 Intake 1 *
(Virtual Session)
Role Play Assessment Re-assessment
CPBL1 – Client Relationship Management 22 March +
23 March (8.30am to 11.30am)
26 March 26 March
CPBL1 – Digital Wealth Management 5 May 12 May
CPBL1 – Ethical Conduct N.A.
CPBL1 – Investment Advisory 17 March 24 March
CPBL1 – Market Specialisation 7 April 9 April
CPBL1 – Wealth Planning 5 April 9 April

 

Modules 2021 Intake 2 # Role Play Assessment Re-assessment
CPBL1 – Client Relationship Management July July TBA
CPBL1 – Digital Wealth Management October TBA
CPBL1 – Ethical Conduct Online Access:
July – September
CPBL1 – Investment Advisory August TBA
CPBL1 – Market Specialisation September TBA
CPBL1 – Wealth Planning September TBA

NOTE:

* We encourage participants to attend our Intake 1 Q1 and Q2 sessions to enjoy the 95% Enhanced Funding from IBF. As these sessions start filling up fast, email us at openprog@wmi.edu.sg if you are not able to find available seats in the online registration portal as we may open up additional sessions in Q1 and Q2 for selected modules.

# Intake 2 dates for Q3 (July to Sept) will be released on 31st March 2021. Dates for Q4 (October to December) sessions will be released on 30 September 2021. If you have a preference for any of these Q3 and Q4 sessions, please email us at openprog@wmi.edu.sg.

——————————————————————————————————————-

  • All dates indicated are FULL DAY training i.e. 8.30am to 5.30pm, unless stated otherwise.
  • Re-assessment will only be applicable when a learner is unable to achieve a pass mark in their assessment on the first attempt.
  • For Client Relationship Management (CPB Level 1), a re-assessment fee of S$535 will be charged for additional role play assessment attempts.

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