Miscellaneous Financial Risk Products

by Financial Education Professionals Pty Ltd. Claim Listing

Our Miscellaneous Financial Risk Product topic covers essential knowledge for advisers seeking accreditation to provide advice in miscellaneous financial risk products, particularly Discretionary Mutual Funds.

$199

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Course Details

A Miscellaneous Financial Risk Product is an alternative to traditional insurance (known as risk protection) offered by discretionary mutual funds. Alternatives to traditional insurance are growing in interest and popularity for various reasons, especially given the increasing risk and severity of events such as natural disasters.

While availability of traditional insurance may be an issue for some people or groups, for others having more control over their financial risk management strategy is the primary motivation.

Our Miscellaneous Financial Risk Product topic covers essential knowledge for advisers seeking accreditation to provide advice in miscellaneous financial risk products, particularly Discretionary Mutual Funds.

 

Who Is This Course For? 

  • Advisory businesses seeking to vary their AFSL to add ‘Miscellaneous Financial Risk Products’ to their existing authorisations
  • Insurance brokers seeking to provide advice in Miscellaneous Financial Risk Products as an authorised representative of a licensee that has this authorisation
  • Discretionary mutual funds and their authorised representatives

 

What Is A Discretionary Mutual Fund? 

  • A discretionary mutual fund (DMF) is an entity structured as a mutual company, which pools funds contributed by members that is used to pay claims. Some of the sectors using DMFs include hospitality, agriculture, trades, churches and other charitable organisations, sporting clubs and other community-based activities.
  • A difference between discretionary mutual funds and traditional insurance is that the fund has discretion to decline, partially pay, or fully pay any claim.

 

Program Content:

  • Overview of why people seek alternatives to insurance
  • Examples of insurance alternatives and who they are suitable for
  • General financial services regulation and licensing refresher
  • Licensing of miscellaneous financial risk products
  • What Discretionary Mutual Funds are and how they ‘work’
  • Conduct and disclosure obligations applicable to MFRPs
  • Industry Codes of Practice – BCCM and NIBA
  • Introduction to advising clients, providing quotes, and handling claims
  • Sydney Branch

    Suite 704, Level 7/70 Castlereagh St, Sydney

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