Certificate in Trust Services
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Programme Overview
The Certificate in Trust Services (CTS) programme provides participants with a comprehensive overview of the wealth & estate planning industry in Singapore and the fundamental tools and solutions available to achieve their client’s long-term financial succession and preservation objectives.
Total: 37 CPD hours
Core FAA CPD: 10 hours
Core SFA CPD: 10 hours
This is the first of a two-part course and is required prior to taking the Advanced Certificate in Trust Services programme.
Modules
Designed for individuals who are interested to deepen their understanding of trust administration and wealth and estate planning, as well as individuals who are keen to pursue a career in these areas, the WMI CTS programme is taught by highly qualified senior practitioners from the wealth and estate planning industry and covers topics including trust regulations and practices, taxation, client advisory and trust structuring, trust management and operations as well as risk management.
- Trusts in Wealth Planning
- Wealth and Estate Planning: Tax
- Client Acceptance and Management
- Arriving at the Trust Decision
- Trust Administration
- Trust Regulations and Practices
- Trust Business Risk Management
Trusts in Wealth Planning
This module provides a comprehensive overview of the wealth & estate planning industry. A good understanding of the features and characteristics of the wealth & estate planning tools and structures, applicable laws and regulations, are essential elements of a successful wealth planner. Lessons will be drawn from global industry trends and regulatory developments applied to daily work practices.
Total Training Duration / CPD Hours: 7
Classroom Hours: 7
Wealth and Estate Planning: Tax
This module provides an overview of global tax regimes and how they impact the administration of trust companies in Singapore. Fundamental taxation concepts like taxation of trust, domicile and residency will be discussed. Participants will gain broad perspectives of key tax concepts and the regulations relevant to wealth and estate planning.
Total Training Duration / CPD Hours: 4
Classroom Hours: 4
Client Acceptance and Management
In this age of enhanced regulatory requirements, trust companies have to be aware of the various regulatory changes that impact the growth of the trust business. This module imparts the practical knowledge and skillsets required during the client acquisition and on-boarding process. This module also dives into the industry best practices to uncover service opportunities and develop client loyalty and confidence in the organisation.
Total Training Duration / CPD Hours: 3
Classroom Hours: 3
Arriving at the Trust Decision
Wealth planners need to have a good understanding of a client’s needs and objectives in order to provide sound advice and recommendations. This module prepares professionals to conduct meaningful evaluations of their clients’ needs using financial as well as non-financial information. Through the extensive use of complex multi-jurisdictional case studies, participants will learn key considerations in trust structuring and understand the various types of structure options and capabilities.
Total Training Duration / CPD Hours: 7
Classroom Hours: 7
Trust Administration and Management
This module covers the principles and end-to-end processes involved in the administration, implementation and management of a trust. Participants will learn the relevant market laws and regulations as well as the industry best practices of organisation’s policies and procedures. This includes accounting, compliance, and methods used in the implementation and periodic performance review of the trust assets. The trustee’s fiduciary duty of care will also be discussed.
Total Training Duration / CPD Hours: 7
Classroom Hours: 7
Trust Regulations and Practices
The international regulatory and compliance environment have been developing alongside the rapidly evolving industry. It is imperative for professionals in the industry to keep abreast of the latest legislative and regulatory requirements relevant to the industry, organisation, operational environment and individual roles. This module covers the emerging and changing regulatory and compliance frameworks governing estate planning and trustee services in Singapore.
Total Training Duration / CPD Hours: 3
Classroom Hours: 3
Trust Business Risk Management
This module provides an overview of the compliance, monitoring and control functions in a trust company. Critical risk areas and fiduciary duties involved in the various stages of tax operations will be highlighted. Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) will be covered. Case studies will be used to enhance the learner’s understanding and application of risk knowledge.
Total Training Duration / CPD Hours: 3
Classroom Hours: 3
Download programme brochure
Who Should Attend
- Trust Administrator/ Manager
- Wealth Planner
- Estate Planner
- Lawyer
- Family Office Advisor
- Client Advisor
- External/ Independent Asset Manager
- Financial Planner
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Certification
Participants who successfully complete the programme will be awarded:
Fees and Fundings
| Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | ||
|---|---|---|---|---|
| Before GST | After GST | Company-Sponsored | Company-Sponsored/Self Sponsored | |
| Application Fees | 85 | 85 | ||
| Course Fees | 6000 | 6420 | 1020 | 642 |
| TOTAL | 1105 | 727 |
Fees and Fundings
| Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | ||
|---|---|---|---|---|
| Before GST | After GST | Singaporean Aged Below 40 / PR | Singaporean Aged 40 & Above | |
| Application Fees | 85.00 | 85.00 | 85.00 85.00 | 85.00 85.00 |
| 85.00 | 85.00 | |||
| 85.00 | 85.00 | |||
| Certificate in Trust Services | 6,000.00 | 6,480.00 | 3,480.00 3,480.00 | 2,280.00 2,280.00 |
| 3,480.00 | 3,480.00 | |||
| 2,280.00 | 2,280.00 | |||
| TOTAL | 6,085.00 | 6,565.00 | 3,565.00 3,565.00 | 2,365.00 2,365.00 |
| 3,565.00 | 3,565.00 | |||
| 2,365.00 | 2,365.00 |
Fees and Fundings
| Modules | Fees after Subsidy (incl. of GST) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | |||
|---|---|---|---|---|---|
| Category | |||
|---|---|---|---|
| 2 | |||
| 1 | Not Applicable | ||
1 For Singaporeans aged 40 and above, you are eligible to utilise the SkillsFuture Credit (Mid-Career) further to offset your course fee after the IBF subsidy.
2 Fees shown are after IBF-STS funding assuming students meet the minimum academic standards outlined by IBF and are physically based in Singapore. The fees are also subject to IBF accreditation approval for all modules.
Fees and Fundings
Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | ||
|---|---|---|---|---|
| Before GST | After GST | Singaporean Aged Below 40 / PR Company Sponsored/Self Sponsored | Singaporean Aged 40 & Above Company Sponsored/Self Sponsored | |
| Singaporean Aged Below 40 / PR | ||||
| Company Sponsored/Self Sponsored | ||||
| Singaporean Aged 40 & Above | ||||
| Company Sponsored/Self Sponsored | ||||
| Course Fees | 6,000.00 | 6,540.00 | 3,540.00 | 2,340.00 |
Fees and Fundings
Core Modules | Full Fees (S$) | Fees after subsidies inclusive of 9% GST (With effect from 1 January 2024) (S$) | |
|---|---|---|---|
| Before GST | Singaporean Aged Below 40 / PR | Singaporean Aged 40 & Above | |
| Company Sponsored/Self Sponsored | Company Sponsored/Self Sponsored |
Note:
In addition to Course Fees, each participant will also be charged a non-refundable and non-claimable application fee of S$85 (including GST).
Fees shown are after IBF-STS funding. Subsidised# fees apply upon participants’ successful completion of the programme, which includes (i) fulfilling minimum attendance requirements and (ii) passing all relevant assessments.
#Subsidies are subject to change by IBF and fees will be adjusted based on prevailing funding rates. Click here to read more about funding support for IBF-STS, and the terms & conditions governing registration, payment, cancellation, deferment and no-show.
Eligible SG citizens may utilise SkillsFuture Credit to offset course fees. This is only applicable for the regular SkillsFuture Credit, and not applicable for the SkillsFuture Credit (Mid-Career) additional top-up funding.
Global-Asia Family Office Circle (GFO Circle) Members are entitled to 10% discount across “Trust Services” programmes. Click here for more information on GFO Circle membership.
The information above is correct at the time of publication. Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.
In addition to Course Fees, each participant will also be charged a non-refundable and non-claimable application fee of S$85 (including GST).
This programme is pending accreditation by the Institute of Banking and Finance (IBF). When accredited, Singaporeans and Permanent Residents will be eligible for funding support of up to 70% course fee subsidy under the IBF Standards Training Scheme (IBF-STS).
Fees shown are after IBF-STS funding. Subsidised fees apply upon participants’ successful completion of the programme, which includes (i) fulfilling minimum attendance requirements and (ii) passing all relevant assessments.
Subsidies are subject to change by IBF and fees will be adjusted based on prevailing funding rates. Click here to read more about funding support for IBF-STS, and terms & conditions governing registration, payment, cancellation, deferment and no-show.
The information above is correct at the time of publication. Wealth Management Institute reserves the right to amend the fees and/or terms and conditions as appropriate.
Schedule
Please note that program dates are subject to change at WMI’s discretion in the event of unforeseen circumstances. WMI will strive to provide advance notice of any changes whenever possible.
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