Program Title: Financial Services Practitioner
Credential Earned: Ontario College Graduate Certificate
Delivery: Contact North (See further details below)
Program Length: 2 Semesters
Program Status: B282 – CK is currently not available.
Program Codes
B282 – CK
Program codes are for September intakes except those that are indicated differently.
Program Description
A hybrid delivery model: All but one course per semester will be via distance delivery to off-site individual students via the Contact North network. NOTE: Classroom space has not been reserved at Contact North’s online learning community centres or at Northern College campuses given the program’s unique timetabling and diverse location of students; instead students will join classes from home or other Internet access points. Students join online courses (PC, microphone and broadband connection required) from an off-site location with classes scheduled for set times and dates, led by an industry professional in real time.
The personal selling and communications courses will be offered, one per semester, via face-to-face delivery over several consecutive full days to minimize travel costs and disruption. The in-person location(s) will be determined based on student numbers and locations. Students should expect and budget for travel within Northern Ontario once each semester for these in-person courses. Student work placements will be sought with the closest participating regional office (or agent) to the student’s home community.
This intensive two-semester program was created 6 years ago by Seneca College in partnership with Canada’s leading insurance and mutual fund companies, and now is available across Northern Ontario in partnership with Northern College and regional industry participants. The comprehensive program prepares you to be a sales and marketing professional in the financial services industry. You will develop the skills necessary to build a practice in life insurance, living benefits, wealth management and group insurance. You will develop core competencies at creating comprehensive financial plans to meet the needs of individuals, families and businesses. Professors drawn from the industry impart the sales and marketing skills and provide you with the tools necessary to deliver personal financial services. Graduates of this program complete a portion of the coursework for eligibility to write the CFP’s (Certified Financial Planner) Professional Competency Examination as well as earn credits towards their CLU (Chartered Life Underwriter) designation. Field Placement after the first half of the first semester ensures you’ll have the opportunity to apply your skills working with experienced advisors to build financial plans for their customers.
Career Opportunities
There’s never been a more critical time for people to receive sound advice from professionals when planning their finances, and managing their risks and insurance. The industry is currently recruiting people with the appropriate financial product knowledge, professional selling skills, and a self-starting personality. In just two semesters you can complete the requirements to obtain your Life Insurance License and Mutual Fund License. You will be ready to work in financial services sales and marketing positions in the rapidly growing financial services sector including life insurance, wealth management and financial planning. You will also be able to apply your skills to develop and grow your own independent financial services practice.
Contact Information
Tel: 705-567-9291 ext. 3673
kldisted@northern.on.ca
FS1013 Insurance Licensing Program
This course introduces the student to the requirements for licensing a candidate for Life Insurance and Accident and Sickness (A&S). Today’s licensing requirements mandate certification through a regulator approved Provider and approved training program. This program has achieved both of these distinctions. This course will introduce the student to a basic history of the Life Insurance Industry, products common to all companies and also the three financial models of today’s product providers (Stock, Mutual and Fraternal). Not only will the student become familiar with products such as Life Insurance but also Insurance financial investments instruments and a broad array of living benefits plans, such as medical, both group and personal, critical illness and long term care. The course concludes with a basic grounding in Insurance Law, Contract Law, Regulation and Professional Standards for Agents. Students will be prepared to write the Life Licencing Qualification Program (LLQP) course providers exam on completion of the course. A certificate will then be issued that will entitle them to write the Financial Services Commission of Ontario (FSCO) LLQP licensing exam.
FS1023 Insurance Company Operation
This course introduces the student to the operations within insurance companies. Learners examine the different types of insurance companies, how they have evolved, how insurance companies are established, organized and structured. Students will gain an understanding of the complete follow through of a insurance policy, from product development, marketing, sales, underwriting, policy service and finally to claims. Students will also be exposed to the regulatory environment and financial ratings. Learners will understand the various support functions within an insurance company and how they will impact their dealings with the product providers as a financial advisor. Finally, the student will have the opportunity to see how the variables of interest rates, pricing, lapse rates, commissions, expenses and mortality rates impact on profitability, and understand how interrelated these variables are through an interactive, asset-share simulation model.
FS1033 Life Insurance and Living Benefits
This course provides a broad exposure to life insurance and living benefits products and their markets and concepts as they relate to individual financial security needs. The protection products of Permanent, Term, and Universal Life and their provisions riders and supplementary benefits will be examined. In addition, disability and health insurance will be introduced. This will include the types of disability insurance, classes, provisions, coverage exclusions, and taxation. The area of health insurance will pay particular attention to critical illness coverage and long term care. Application of attained knowledge will be developed and evaluated through case studies.
FS1043 Investments, Groups and Specialty Products
This course provides a broad exposure to group life insurance and insurance-related investments and their markets and concepts as they relate to individual financial security needs. The protection products of group term, permanent and universal life, and their provisions, riders and supplementary benefits will be examined. In addition, group accident and sickness, critical illness, disability, health and long-term care insurance will be introduced. This will include their classes, provisions, and coverage exclusions. An in-depth outline of investments will be undertaken as well. Investments to be discussed include annuities, GICs, individual variable insurance contracts or segregated funds, and mutual funds. The taxation of group insurance and investments will be reviewed. This course also discusses such retirement programs as LIFs, LIRAs, RRIFs, RRSPs, registered annuities and government retirement benefits such as CPP and OAS. Application of attained knowledge will be developed and evaluated through case studies.
FS1053 Professional Selling Skills
A career in financial services selling requires special skills. This subject deals primarily with person-to-person selling. The students will learn and practice the fundamentals of the sales process, needs analysis, consultative selling and relationship building. Students develop interactive selling skills through presentation, self evaluation and peer evaluation. Emphasis is on developing the confidence, professionalism and marketing skills required in the world of financial services.
FS1063 Financial Planning Fundamentals
This course is designed to prepare the student to write their 1st Certified Financial Planner examination. This course introduces the fundamentals important to the discipline of financial planning. Students will acquire an understanding of the concepts and applications associated with financial calculations and the analysis of financial statements. The basic concepts of contracting and family law are covered, followed by an analysis of government sponsored benefit programs.
FP1111 Field Placement
FS2013 Canadian Investment Funds
This course introduces the student to the requirements for licensing a candidate for their Mutual Funds License. This course deals primarily with information and exercises that are relevant to your work as a mutual fund salesperson. Each unit introduces activities and processes that you will need, but also to give you the opportunity to analyze situations and put your knowledge into practice. Students will be introduced to exercises and case studies that will challenge you to provide the next step in a mutual fund solution for your clients. Students will write their mutual fund license examination on completion of the course.
FS2023 Interpersonal Communication Skills
This course introduces the complex and essential skill of communicating with others. Although writing will be done, especially as it relates to virtual communications, the course will concentrate on verbal and non-verbal communications and listening skills, class participation in the forms of various kinds of interactive work, illustrative case projects, and exercises in interpersonal communications in the business/sales environment. The course will focus on theory and practice with regard to knowing oneself, understanding others and effectively communicating with people.
FS2033 Investment and Retirement Products
This course introduces the student to the fundamentals of investment and retirement products. The student will be introduced the types of mutual funds, various management styles, segregated funds, registered products and annuities. The student will gain knowledge of the current product line of a number of our sponsor partner company’s products. The student will learn where mutual funds, segregated funds and annuities fit into a client’s portfolio, and how RRIFs and annuities can be used to generate retirement income. The course also provides an in depth review of industry documentation and forms to be used when opening new accounts and transferring existing client accounts. The student will also assess client needs through the use of the college-provided Financial Services Practitioner Software Platform. This will be achieved through the use of case studies and practical use of the technology and reports generated from it.
FS2043 Ethics, Compliance and Professional Development
This course introduces the student to the ethical standards, compliance requirements and professional standards for conduct in the financial services industry in Canada. Students will examine the regulatory environment, requirements to be a financial services advisor, client rights, privacy, anti-money laundering requirements and terrorist financing requirements. The course will also engage the students in an understanding of how to operate a financial services business, in light of these requirements, from a practical business conduct perspective.
FS2053 Modern Practices in Financial Planning
This course is designed to prepare the student to write their 2nd Certified Financial Planner examination. This course introduces students to basic income tax laws and moves into a more advanced understanding, as it relates to areas of financial planning. A review of the professional and ethical responsibilities associated with the role of a financial planner and an understanding of the structures and services within the financial industry are covered in the course. Different forms of business structures are explored in-depth, along with an understanding of trusts.
FS2063 Practices in Risk and Retirement Planning
This course is designed to prepare the student to write their 3rd Certified Financial Planner examination. It is designed to provide students with a comprehensive understanding of the principles and applications related to the concepts of managing risk and retirement planning, this course covers products, issues, and practices in the area of insurance and retirement. Included is an understanding of the risk management process along with the retirement planning process moving through the wealth accumulation phase into retirement.
FP2101 Field Placement
