Some misunderstanding apparently exists with regard to the requirements for Fiduciary Practitioner of South Africa (FPSA®) status. There are four requirements:
Education: Enrolling and completing the Advanced Diploma in Estate and Trust Administration through the University of the Free State is currently the only acceptable way to comply with this requirement. To enrol for the Diploma the prospective student must hold an NQF6 level qualification or accepted recognised prior learning. Prospective students must contact the university in this regard.
Examination: The prospective FPSA® must successfully complete the final examination of the Diploma and comply with all requirements set by the university to have the Diploma awarded to him/her.
Experience: A minimum of three years’ relevant experience in the fiduciary industry is required before any individual can apply for FPSA® status.
Ethics: During the application process for FPSA® status, the applicant must show that s/he complies with FISA’s requirements w.r.t. ethics.
How does one acquire FPSA® status?
After successful completion of the diploma course mentioned above, the applicant must:
1. Apply successfully for FISA membership (if not a member already); and
2. Submit an application to the FISA council for FPSA® status to be awarded.
The FISA council will consider the application at its next meeting. If approved, the member will be awarded FPSA® status and will be notified in writing. Only at this stage is the member entitled to use the FPSA® status and designation.