FISA has launched a new 5‑week series outlining what is expected of members regarding Continuing Professional Development (CPD). The topic for Week 1 is: Why CPD Matters – the importance of lifelong learning in the fiduciary field.
Benjamin Franklin said the following: “Without continual growth and progress, such words as improvement, achievement, and success have no meaning.”
According to artificial intelligence (AI): “Lifelong learning is the discipline that keeps a professional relevant long after qualifications fade.”
FISA highlighted the importance of CPD as far back as Edition 4 of the FISA Focus Newsletter – 21 October 2014. Members are encouraged to re-read it.
All FISA members subscribed to the Code of Ethics and of Professional and Responsible Conduct as well as to the Continuing Professional Development (CPD) Programme Charter when they joined FISA and when they renewed their membership. It is therefore essential that members also adhere to these codes.
Week 1: Why CPD matters – the importance of lifelong learning in the fiduciary field
Education is not only an entry requirement into the profession; it also plays a vital role in establishing and sustaining a culture of lifelong learning.
By committing to lifelong learning, FISA members demonstrate diligence and integrity, as required by our Code of Ethics and Professional and Responsible Conduct.
Diligence inter alia requires that members have the necessary knowledge and competence in the fiduciary field.
Members should ensure that they maintain the knowledge and skills required of a person acting in a fiduciary capacity.
If a member realizes that he/she lack the knowledge or skills required due to changing circumstances in any area of their fiduciary work, they must take the necessary steps to address the gap. This may involve acquiring the necessary knowledge or engaging a specialist in the relevant field in good time.
Members are also encouraged to contribute to the ongoing development of knowledge within the fiduciary profession by making use of FISA’s structures, sharing case studies with fellow members and contributing to publications, whenever possible.
CPD matters because:
- It sustains lifelong learning – keeping knowledge up to date and relevant in a changing environment;
- It protects professional integrity – aligning practice with the highest ethical standards;
- It strengthens public trust – enhancing the image of the fiduciary practitioner;
- It reduces risk – limiting exposure to negligence or liability
Members are encouraged to reflect on their own CPD journey. Which activities have enriched your practice?
The topics for the next four weeks are as follows:
Week 2: The Purpose and Goals of the CPD Programme
Week 3: Areas of Expertise and Categories of CPD activities
Week 4: Verifiable vs Non-Verifiable CPD Activities
Week 5: CPD Rules, Requirements, and Compliance