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Partners Life knowledge assessment, and more daily news

Partners Life has announced the development of a knowledge assessment to meet the competence requirements set by regulators. All advisers with Partners Life agencies will be required to undergo a knowledge assessment. Depending on the results of the initial assessment, advisers may be required to complete refresher training. Partners Life have noted that the assessment will not be a test of product features, instead is intended to ensure advisers provide suitable advice. The assessment will be based around the circumstances of a hypothetical family. This is intended to make the assessment more realistic.

“To meet the competence requirements set by the regulators, every adviser holding a Partners Life agency will be required to complete an initial knowledge assessment, as well as any subsequent refresher training that may follow.

The Partners Life philosophy is focused on professional development rather than just product accreditation. This means our knowledge assessment process will not just be a memory test of product features but will focus on helping advisers to deliver suitable advice. We believe that personalising assessments by including a fictitious family with their own circumstances, will make assessments more realistic, more relevant and more likely to support advisers deliver results that lead to good customer outcomes.”

The assessment will be completed online and is designed to be straightforward. Advisers will be provided with login details and will have the ability to store their personal records. As part of the initiative, Partners Life will provide advisers with additional professional development resources. Managing Agencies and FAPs will have the ability to oversee the progress of advisers.

“Partners Life has developed an intuitive online learning platform to ensure that the process will be straightforward. It provides each adviser with a unique login and the ability to store a personal record of their Partners Life learning.

As an added bonus there will be other professional development resources available to advisers through the portal.

If you are a Managing Agency or Financial Advice Provider licence holder, you will have the ability to view the progress of any sub-advisers or members.  It is therefore critical that you keep Partners Life up to date with any adviser changes in your business, so that our records are always accurate and current.”

Partners Life is set to send advisers emails with their usernames and a link to generate passwords. There are 10 modules for advisers to complete, with each module estimated to take 20-40 minutes to complete. All advisers will be required to complete the initial knowledge assessment before 26 February 2021.

“You will shortly receive an email with your username and a link to create your password that will give you access to the initial learning platform. The recorded introduction video has some tips to help you navigate through the process and we would strongly encourage you to watch the video before you start the assessments.

There are 10 modules to complete and we estimate it will take you between 20 and 40 minutes to complete each module. All advisers must have the initial knowledge assessment completed by close of business Friday 26 February 2021.”

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