User Manual Q&AAnswer
Apr 05, 2025 - 10:27 AM
The IOB Wealth Management Professional (WMP) CPD scheme has specific requirements that members must fulfill to maintain their membership. Here are the key details:
1. CPD Year: The CPD year runs from 01 January to 31 December. All CPD hours must be completed within this timeframe.
2. Total CPD Requirement: The annual CPD requirement is 6 hours. This includes at least 1 hour of ethics-related CPD.
3. IOB Provided Events: At least 3 hours of CPD must be completed through IOB provided events or online modules that are classified as "Wealth Management Professional specialist content." These events are deemed to be relevant to the WMP designation.
4. Accredited CPD Events: All CPD events must be accredited by IOB to count towards the CPD requirement. Event providers can apply for CPD accreditation through the IOB website.
5. Recording and Annual Return: All CPD events must be recorded, and an annual return must be made by 31 January of the following year. The annual return should include details of the approved events that make up the CPD hours for the previous calendar year.
6. Audit: A random sample of members will be audited each year to verify the completion of CPD hours. Members selected for audit may be required to provide supporting documentation, such as certificates of attendance or completion.
7. Pro Rata Adjustment: In certain circumstances, such as statutory maternity/parental/adoption leave or illness, a pro rata adjustment in the required CPD hours may be granted. Members should complete a Pro Rata Adjustment Form and submit it to IOB for consideration.
It is important to note that failure to comply with the CPD requirements may result in removal from the CPD scheme and the loss of the WMP designation. Members should keep records of their CPD activities and supporting documentation for at least six years.
For more detailed information and specific guidelines, you can refer to the IOB Wealth Management Professional (WMP) CPD Guidelines and Regulations document provided by IOB.
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