The CPD Programme...

 
       

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Some guidelines and examples as to the types of activities that do/don’t earn credit or hours:

Main Criteria 

The QFA Board has deemed that activities that are directly relevant to giving financial advice to consumers can count for CPD credit (i.e. those of a technical nature, regarding taxation, pensions, investments and so on, or concerning legislation and/or regulation).  In other words information or knowledge an adviser really should have before advising a client, or information that is absolutely necessary in order to conduct business (e.g. Euro / Central Bank Compliance)

 

Definitions: Formal Vs Informal

 

  • Very simply defined, Formal CPD is ‘active’ participation in something (e.g. attendance at seminar/workshop/in-house training programme etc)   

  • Formal CPD does not necessarily mean attendance at external seminars.  If you  participate in in-house training, or in the case of intermediaries, if Life Office representatives call to you in order to train you on a new product or generic product-type, this could earn credit (provided the training session is formal in nature and not simply an informal 'flick through the new brochure over a coffee')

 

  • Informal CPD is general reading and research (e.g. relevant articles from Irish Broker, The Professional, business pages of newspapers etc). 
  • In order to calculate informal hours: take an honest estimate of the amount of time you spend reading relevant material on a weekly/monthly basis and multiply it out over the period in question.  It may be a lot (in some cases hundreds of hours per year) or not very much, depending on your routine and job requirements.
  • There is no limit on the amount of informal hours you may claim each year, but you must meet at least your minimum formal requirement and total annual requirement.
  • The one exception to the formal/informal definitions is the QFA Annual Update document (last issue circulated in July 2009), as reading of this document actually earns four hours formal CPD.
  • Whether Formal or Informal, for anything to count for CPD credit, it must conform to the above main criteria.
  • In terms of hours, we generally award one hour per hour of activity (excluding any breaks or social activity) up to a maximum of four hours for any one event, activity or topic.

Some examples of approved activities (not exhaustive):

  • Compliance training

  • PRSA seminars

  • Investment seminars

  • Product training (formal training session, as opposed to a more social ‘product launch’ situation)

  • Tax updates

  • Training in computerised fact-find systems

  • Relevant examinations run by Professional bodies (hours awarded on successful completion of exams, no hours for study or exam preparation)

  • Anything 'technical' in terms of how certain aspects of the business physically operate

  • Modules successfully completed on the MyCPD website

Some examples of what would not earn credit (not exhaustive):

  • General software/application training (e.g. Microsoft Excel, Access etc)

  • Internet training

  • Sales (techniques) training

  • ‘Motivational’ seminars

  • Study or exam preparation.  Credit is awarded on successful completion of relevant examinations

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