Priority Banking
Priority & Retail Banking Certified
Adviser (PRCA) Level 2

Covering the full range of wealth management competencies for affluent clients

The Priority & Retail Banking Certified Adviser (PRCA) Level 2 forms the bedrock of skills, knowledge and applied competencies for managing affluent clients successfully.

It is designed for persons between 3 to not more than 8 years of combined experience across priority, personal and retail or consumer branch banking. For those with more than 8 years combined experience, you may wish to also consider PRCA Level 3.

Our Level 2 programme has five individually accredited modules which the learner can choose from and each can be completed individually.

These modules cover the full range of skills and competencies across sales, relationship management, financial & investment advisory, portfolio solutions, rules & regulations and ethics.

Persons who complete all modules will be eligible for IBF certification as well as exemption from two of the four modules in PRCA Level 3.

CURRICULUM

Learners are not required to complete all 5 modules and may choose to complete modules which meet their learning needs as well as fulfil their required CPD hours.

For those who wish to achieve IBF Level 2 certification, a possible learning pathway would be one taken over 2 years. Please contact our programme manager to find out how many modules you need to take in order to get Priority & Retail Banking Certified Adviser (PRCA) Level 2 accreditation.

Modules Full Fees (S$)

Client Advisory (Sales Strategy) 1,712

This classroom module will impart skills on how to develop and implement a plan for growing AUM and clients which includes Identifying prospects, assessing suitability, fostering trust and securing clients’ decision. The regulatory and ethical parameters governing this process is covered.


Role plays will allow the learner to apply a sales advisory approach when presenting solutions to clients. Skills to manage service lapses and stakeholders will be covered to enable the advisor to achieve service excellence.

This classroom module covers skills to formulate and apply plans for existing clients with the aim of deepening relationships through a wider understanding of the client, uncovering opportunities through account review as well as leveraging on internal partners such as specialists and service managers. A class exercise will allow the learner to practise this.


The learner will be taught a framework which can be applied to gather the client’s needs and wants and what is met and unmet. Client account optimisation, negotiation skills and retention strategies will also be shared.

“Planning is bringing the future into the present so that you can do something about it now” - Alan Lakein

This classroom module teaches the process and benefits of financial advisory and how best to identifying clients’ needs based on different profiles and life stage. The learner is taught a framework which broadly cover four core focus of most clients, how to start such conversations and arrive at a plan which covers investment, insurance, assets & liabilities, sources of current and future income etc.


The learner will gain insights of key criteria for consideration when making recommendation for clients and how to identify the features and benefits of each recommendation to clients.

This one-day classroom recognises the challenge of adopting an ideal portfolio and asset allocation approach for affluent clients as certain products may fall outside the client’s available AUM, risk profile or the organisation’s investment and risk guidelines.


The module covers key concepts such as investment suitability, risk profiling and client investment styles. By leveraging investment, insurance and legacy products generally available in priority banking, through role plays and discussions, the learner is guided to transition from sell to advice and from product to portfolio. By adopting a less transactional perspective, the advisor re-focuses on the relationship and in doing so, establish trust which is core to obtaining client’s acceptance.

For more information, please visit https://wmi.edu.sg/online-learning-cpd.html

Certification & Fund​ing

Upon successful completion of the programme and passing of all assessments, participants will be:

  • WMI CERTIFICATION

    Awarded the WMI Certificate of Achievement for Priority & Retail Banking Certified Adviser Level 2

  • IBF CERTIFICATION

    Eligible for the IBF Advanced (Level 2) Certification for Retail Banking - Sales & Relationship Management.

The IBF Retail Banking-Sales & Relationship Management Skills Framework covers both personal banking and priority banking. For those moving to and in priority banking, Level 2 would be highly relevant and beneficial.


Learners can take any of the five modules and each will provide FAA CPD hours and WMI certification.


However, to be eligible for IBF certification, learner would need to have all required CMFAS modules, more than 3 years combined relevant experience and complete all five modules’ training and assessments within 5 years.

 

IBF Standards Training Scheme (IBF-STS) Funding

This programme is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to participants meeting all eligibility criteria. Find out more on https://www.ibf.org.sg/certification/Pages/Why-be-Certified.aspx

Who will benefit from PRCA Level 2

This programme is designed for those with 3 years to not more than 8 years combined experience of managing and advising clients:


  • Relationship Manager and Assistant Relationship Manager in priority banking
  • Senior personal banking managers in retail and consumer banking
  • Financial and insurance advisors managing affluent clients

programme calendar

From 1 Sep 2020 to 31 Dec 2020, PRCA Level 2 is available for customised in-house sessions.

Open-run sessions will commence after 1 Jan 2021.

Explore Our Community

Our Faculty

Find out more

Our Partners

Find out more

News & Events

Find out more