Trust Services
Advanced Certificate in Trust Services

Classes incorporate case studies and team exercises to facilitate optimal exchange of ideas, techniques and solutions between instructors and participants

  • Next Intake:24th Feb 2021
  • Application Dateline:1st Feb 2021
  • Accredited:IBF Standards

The WMI Advanced Certificate in Trust Services (ACTS) programme equips participants with advanced knowledge, practical techniques and strategies to help clients achieve their long term succession and wealth preservation objectives. Through the extensive use of case studies, this programme is highly practical in nature. It is designed to highlight the best practices, law and regulations, code of conduct, guidelines and pertinent issues and challenges faced by professionals in leadership roles or aspiring leaders and managers working in the trust and fiduciary services industry based in Singapore.

Classes incorporate case studies and team-based learning activities to facilitate optimal exchange of ideas, techniques and solutions between instructors and participants. Each session is conducted by leading practitioners in their respective specialised areas of expertise, ensuring high relevance to practice.

Curriculum

Modules Classroom Hours

This module is key for participants to understand how to use wealth planning structures effectively to address the unique needs of the clients. It will cover the factors that will need to be considered in creating suitable structures, as well as key concepts on succession and rights. Relevant case laws and case studies will also be used to illustrate the nuances and delicate considerations of each concept and situation.

This module covers the overview of the relevant legislative, regulatory and industry requirements, as well as highlights the recent changes and the implications to the trust industry. Participants will learn to apply best practices and guidelines on compliance procedures and practices to ensure compliance with relevant legislation and regulatory requirements.

The Tax module explores the key principles and practices of both the local and international taxation regimes that impact trust structures of the clients, as well as the trustee companies. Participants will dive into a comprehensive overview of the tax systems around the world, as well as the basic tenets governing international tax planning solutions. The module will also cover tax treaties between countries, its impact on trusts, and the Singapore tax framework and exemptions for foreign as well as locally administered trusts.

This module delves into the three key components of (i) client acquisition (ii) acceptance and on-boarding of new clients, and (iii) the ongoing servicing and periodic review for the clients. Participants will learn to identify business opportunities and design account plans to forge relationships with the clients, as well as understand the importance of Know Your Client (KYC), Know Your Risk (KYR) and Know Your Structure (KYS). Participants will also learn skills needed to identify the sources of information as well as understand escalation and remedial actions needed for risks mitigation.

In the administration of a trust, it is imperative that the trust personnel perform its fiduciary duties and contractual responsibilities with professionalism, care and skill. This module will bring the participants through the stages of trust administration, with worked examples to show the actual administration, and highlight the duties of the trust personnel and the considerations at each stage. Case studies and case laws will be used to bring out the complexities and nuances faced in unique and complex situations. Module coverage include documentation, managing assets and distributions, funding of the structures, executorship and administration and the fiduciary duties of the trustee.

Management and Governance prepares professionals in leadership positions as well as aspiring leaders with effective stakeholder management skillsets and industry best practices to review organisational performance management strategies. In this module, participants will also learn to appraise the various business propositions that a trust structure can bring to the client. The module lays down the various organizational, functional and governance issues faced in the management of a trust. Legal, functional and general duties of a trustee, as well as the exemptions to duty of care and skill, will also be discussed.

This module deep dives into the organisational risk management framework including compliance, monitoring and internal control functions in a trust company. Critical risk events and fiduciary duties involved in the various stages of 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 control and risk response approaches. In addition, the session will also cover the compliance vulnerabilities and the evolving regulatory standards.

Singapore Institute of Legal Education (SILE)

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

The Advanced Certificate in Trust Services has been accredited by the Singapore Institute of Legal Education (SILE) for 39 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 logging in at the start of the webinar and logging out at the conclusion of the webinar on each day of the activity, and not being away from any part of the webinar for more than 15 minutes on each day of the activity. 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.

Participants who attend Day 1 and comply strictly with the Attendance Policy on that day may obtain 5.5 Public CPD Points. Participants who attend Day 2 and comply strictly with the Attendance Policy on that day may obtain 5.5 Public CPD Points. Participants who attend Day 3 and comply strictly with the Attendance Policy on that day may obtain 5.5 Public CPD Points. Participants who attend Day 4 and comply strictly with the Attendance Policy on that day may obtain 5.5 Public CPD Points. Participants who attend Day 5 and comply strictly with the Attendance Policy on that day may obtain 5.5 Public CPD Points. Participants who attend Day 6 and comply strictly with the Attendance Policy on that day may obtain 6 Public CPD Points. Participants who attend Day 7 and comply strictly with the Attendance Policy on that day may obtain 5.5 Public CPD Points.

Certification & Funding

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

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 www.ibf.org.sg

T&Cs apply. Details to refer to https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx

Fees

Advanced Certificate in Trust Services Full Fees (S$) Fees after 90% IBF-STS Courses Fee Subsidy
(For Singaporeans / PR) (S$)
Company-Sponsored Self-Sponsored
Application Fee 85 85 85
Tuition Fees 8,560 1,560 1,560

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 (90% till 31 Dec 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$8,000.00. For funding eligibility criteria and more information regarding the funding, please visit https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx.

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 will Benefit

Senior Trust Administrator, Trust Manager, Wealth and Estate Planner, Senior Trust Relationship Manager, Lawyers or any other occupations that perform similar roles.

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

  1. Certificate in Trust Services
  2. Family Office Programme

Programme Calendar

Advanced Certificate in Trust Services (2021) Time
24th Feb, Wednesday 9am – 4pm
25th Feb, Thursday 9am – 4pm
26th Feb, Friday 9am – 4pm
3rd March, Wednesday 9am – 4pm
4th March, Thursday 9am – 4pm
5th March, Friday 9am – 4pm
6th March, Saturday 9am – 4pm
13th March, Saturday 9am – 12nn

 

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