Professional Development Plans
Most regulated industries now require professional staff to have a professional development plan (PDP) that sets out the training they will undertake to maintain and improve their knowledge and standards.
Set up, review, and track professional development plans
With Dacreed you can set up professional development plans, have them reviewed by managers, and agreed plans documented.
Training records are then kept within the CPD (Continuous Professional Development) function to log and review against the individual's plan.
- Create and assign PDP review forms
- Manager review and sign-off workflow
- Agreed plans documented and tracked
- CPD mapped against PDP goals
- Scheduled reviews throughout the year
Professional development in financial services
In financial services, all financial advisers and nominated representatives are required to have a professional development plan that sets out areas for growth and the training they intend to undertake in the next 12 months to maintain their expertise, address any gaps in their knowledge, and show how this will improve outcomes for their clients.
Dacreed allows you to create your professional development plans with your manager through reviews. Individuals are assigned a PDP review form to complete and submit. This is then reviewed by their manager or the training lead, with an agreed professional development plan being recorded. This provides a clear structure of what training is required through the year. You can create your own form or use one of the Dacreed templates.
Dacreed through its partners also provides you with access to a range of training programmes. View Training Content →
Frequently asked questions
What should I include in my Professional Development Plan?
Your PDP should include a mix of training that ensures you are up to date on:
- The legislation and regulations that apply to you, specifically any changes in the last 12 months
- Guidance from regulators such as the FMA, RBNZ and Commerce Commission that could impact the advice you provide
- Product knowledge, not only on the products you normally advise on, but alternative products that could better serve your clients
- The wider economy, so you are aware of changes that could impact your clients
- Ways to improve how you provide your services to achieve better outcomes, often referred to as"soft skills"
How many hours of CPD should I do each year?
Under the Code of Professional Conduct for Financial Advice Services, particularly Code Standard 9, the requirement is principles-based, not a set number of hours. Advisers must do sufficient training to maintain competence, knowledge, and skill for the nature of the advice they give. FAPs are accountable for ensuring this takes place and can be evidenced.
Ready to streamline professional
development?
See how Dacreed makes PDP creation, review, and CPD tracking effortless for your organisation.