The Ohio-based Registered Financial Planners Institute (RFPI) expects to grant its first license to Taiwanese financial talent in April after launching its local certification program and office yesterday.
"We've set up a five-member education committee, which will be further expanded to 10 to 12 members, to oversee the certification process," said Eddie Hui, (許趙傑) executive director of RFPI Taiwan's office at the sidelines of the institute's launching ceremony yesterday, but declined to give the names of the committee's members.
"Our goal is to help beef up local financial talent's international competitiveness," Hui said.
The institute, which has approximately 60,000 licensed members worldwide, plans to target the tens of thousands of Taiwanese financial planners with at least three years of experience in the financial service sector but who do not have an internationally recognized license.
Before the certification test, candidates are required to complete an 11-week-long training course at a cost of NT$80,000 per person.
Licensed members may be able to command higher salaries to the tune of more than NT$4 million (US$123,850) per year, the institute said.
The institute's survey of 79 financial planners yesterday found that 53 percent of respondents said their clients placed a higher priority on their performance rather than the number of licenses they owned.
However, the survey also showed a correlation between financial planners' salary levels and the number of licenses they held.