Competition for Level Five heats up
Professional IQ College has hit back with its own offer to tempt students to complete the level five qualification there.
Monday, March 11th 2019, 5:59AM 
1 Comment
Rod Severn
Last week, Strategi launched a "success rebate" of $500 for advisers who completed the core strand and a specialist stand within eight months.
It is expected that many advisers will need to gain the qualification to meet the requirements of the new code of conduct, which was submitted to the Commerce Minister this week.
Rod Severn, chief executive Professional IQ College, said it, too, had secured Government funding to reduce the cost of the qualification.
It will refund successful advisers $550, reducing the overall costs of the qualification by around 33 per cent.
Conditions include completing the course in eight months, completing 10 credits within the first three months and enrolling for the full qualification.
Severn said the college was finalising in-house workshops for both core and strands to help experienced advisers through the process, "to take some of the mystery and concern away from the qualification".
He said the college was well positioned to help all advisers through the certification process.
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At least that's what I take from PIQ's release above where is says it has trumped Strategi's rebate of $500 with $550.
Can we now expect Open Polytech to raise the stakes by rebating $600?
As advisers we have to be transparent and avoid misleading statements. Does the same requirement sit with education providers?
My sources tell me the situation might actually be that TEC (Tertiary Education Commission) pays money to Skills (our ITO industry training organisation); Skills in turn pays some of that money to the course providers (Strategi, PIQ and presumably Open Polytech and any others granted authority to teach Level 5) and then the course providers pay some of what they get to their candidates.
How much of what the Govt provides to TEC gets swallowed up each time the money changes hands?
I don't know the answer to that but would love to know so that if the question crops up when I have to resit the Regulations unit standard, I have a good chance of guessing the right answer!