Institute seeks to boost investment planning capacity for local insurers

CISI is a global professional body offering certification and continuing professional development opportunities. [iStockphoto]

Insurance agents and brokers are now looking to the capital markets as they aim to set up new revenue streams and avenues to shore up their product and service offerings.

Providing investment advice and selling investment products offered by various Fund Managers has quickly become the new frontier.

In line with this initiative, the Chartered Institute for Securities and Investment (CISI) is seeking to facilitate this drive by providing the requisite knowledge to assist the sector to develop the necessary skill and expertise to thrive in this market.

"The programme will allow financial advisors to better determine their client's objectives, risk profile and preferences so as to offer advice and match investment products suitable for each individual client," said an update by CISI.

The CISI is a global professional body offering certification and continuing professional development opportunities across the breadth of financial services.

"Insurance agents and brokers can add a lot more value to their clients by offering a more holistic financial planning package that includes protection, investment, and retirement planning," said CISI regional representative Kimacia Gitau.

"Ensuring that financial advisors are well equipped with the knowledge and skill to provide investment and retirement advice is a key part of what the CISI is here to facilitate," he said.

The programme will allow financial advisors and insurance agents to expand their offerings to investment products (money market, bond, equity, and balanced funds, among others).

"This will in turn also contribute significantly to the government's current drive to foster financial literacy and inclusion, a key enabler for economic development," said CISI.