Dear Stakeholder

On Monday, 4 March 2024, 44 Black graduates participating in our ninth Independent Financial Advisor (IFA) Internship reported to host practices around the country for their first day of work. This is our biggest group of IFA interns yet, a proud moment for the ASISA Academy. The interns will be guided into a career in financial planning over 12 months by established IFA practices.

Funded by several ASISA members, the ASISA Academy IFA Internship has proven effective in helping Black graduates bridge the gap between tertiary education and the skills required by IFA practices. Interns participate in a structured programme that offers a powerful combination of work-readiness input, mentoring, theoretical knowledge and practical work experience delivered by the Academy in partnership with the IFA practices.

Since the programme's inception in 2016, 296 graduates have participated in the IFA Internship, including the new intake of interns.                                    

One of these graduates is Kirsten Ferguson. She participated in the 2023/24 IFA Internship, which drew to a close at the end of February 2024. As her internship with Private Client Holdings was nearing its end, she was offered a permanent position. Overwhelmed with gratitude for having been able to secure a permanent position due to the ASISA Academy IFA Internship, Kirsten penned a letter to me sharing her story and outlining why this internship was life-changing for her.

I remember back to 2021-2022 struggling for almost two years to find employment to support my studies and assist my family. Each job application submitted and every interview attended seemed to lead to dead ends, which only amplified my state of despondency. Even as I was preparing the video we were requested to submit, my mind automatically went to thinking: “What is the point? You’ll be rejected anyway”. I say this to express the significance of the opportunity given to me - it has not only changed the trajectory of my career but also provided a newfound sense of empowerment that I will forever be grateful for.

The internship has been nothing short of transformative and I owe it all to you and the remarkable initiative that provided me with this opportunity. I want to express my deepest thanks for believing in me and for orchestrating this invaluable experience. I can say that I felt the Academy truly cared about me, my individual development, and my journey.

Reflecting on the past year, I've come to realise just how much I've grown, both personally and professionally. The journey has definitely not been easy, but it has equipped me with resilience, strength, and a sense of purpose and much-needed direction. I am excited about the opportunities that lie ahead in the finance industry and the doors that have been opened through the mentorship and support I received.

I believe that Kirsten’s story reflects the realities faced by many interns participating in our graduate programmes. The credit for the profound impact on their lives and career trajectories must be shared by all who have played a part in these worthy initiatives, namely:

• The companies that are funding the graduate programmes;
• The participating host companies that provide the interns with hands-on training for the duration of the internships; and
• The ASISA Academy team responsible for implementing the programmes along with mentors who walk the journey with the graduates.

NEWS FROM OUR GRADUATE PROGRAMMES

Fezeka Graduate Programme

The Fezeka Graduate Programme is an industry collaboration under the auspices of the ASISA Academy to help the South African asset management industry improve the representation of Black women on investment teams. The success of this programme is, therefore, measured by how many participants receive offers of permanent employment at the end of their third and final work rotation.

I am encouraged by the news that two of the eight young women participating in the inaugural Fezeka Programme finishing mid-May have already secured employment offers, while the other six are currently interviewing for available positions.

The eight young women who participated in the inaugural Fezeka Graduate Programme.

IMACS@TSiBA 

The 39 students from the TSiBA Business School participating in the current ASISA Academy IMACS@TSiBA Internship will be required to complete a compulsory work experience internship in their final semester from August to November 2024. Without successfully completing this practical work element, these students will not be able to graduate.

I would therefore like to appeal to companies able to host students from August to November 2024 to please get in touch with us.  The IMACS@TSiBA Internship qualifies as a category B on the Learning Programme Matrix.

RETIREMENT FUND TRUSTEE EDUCATION

In March, we presented 15 Retirement Fund Trustee Education (RFTE) workshops to 232  trustees and principal officers. Of these workshops, seven were public, three were presented for the Institute of Retirement Funds Africa (IRFA), and five were presented to trustees of the following single funds:

• Samancor Group Provident Fund
• Engen Oil

Trustees who attended the Foundations for Retirement Fund Trustees workshop from the Samancor Group Provident Fund.

SHORT COURSES AND BESPOKE COURSES

• The UCT Collective Investment Schemes (CIS) Short Course and the UCT Investment Management Administration & Client Servicing (IMACS) Short Course were presented as a combined in-person course in Cape Town from 13 to 19 March 2024. The course was attended by delegates from various companies in the financial services industry, as well as delegates from the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) in Botswana.
   
• The second of six bespoke Investment Induction courses was delivered to Sanlam Investments employees.
   
• The second set of in-house Investment Sprints was presented to Momentum employees, covering the following topics:
  • Investment Management Business Overview
  • Investment Products and Structures
• The Academy delivered the second session of the M&G Career Development Course, an employee development programme for early career employees and employees working outside of the financial space within the business. The session focused on:
  • Mental Health and Wellbeing
  • Managing your Personal Finances
• Digiata requested a bespoke Financial Services Industry Overview Blitzcamp and Investment Management Business Overview Blitzcamp for its employees.

The delegates who attended the UCT CIS & IMACS Short Course that was held in Cape Town in March.

UPCOMING COURSES

• The popular UCT Life Insurance Claims Assessors Short Course is scheduled to run in Johannesburg from July to October. We still have a few seats available and encourage you to click here for more information and to register.
   
• The RFTE Learning Calendar for April 2024 is available here and includes:
  • An Advanced Course for Trustees
  • Private Equity
  • While the two-pot system workshop in April is fully subscribed, interested trustees are encouraged to sign up for future dates here.

LEARN WITH US

The ASISA Academy is recognised as a Level 1 B-BBEE Qualifying Small Enterprise, with more than 75% of the Academy’s beneficiaries being black South Africans. This means employers can claim 135% of their skills development spend with the ASISA Academy. Please get in touch with us to discuss how we can support your skills development requirements.

For a complete overview of learning opportunities, please visit the ASISA Academy Learning Calendar.

Please visit our website for more information on our many learning opportunities. We also invite you to interact with us on LinkedIn.

Best wishes

Alicia Davids
ASISA Academy CEO

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