Why do I need a STEP qualification?
A STEP qualification is an academic and professional qualification recognised by the industry. Completing this Certificate enables you to become an affiliate of STEP, demonstrating to all stakeholders that you take a proactive approach to your professional development. Should you wish to continue your studies on completion of the Certificate, you can go on to study the STEP Diploma, which provides a route to full STEP membership. Full members are entitled to use the letters TEP (Trust and Estate Practitioner) after their name and are the most experienced and senior practitioners in the field of trusts and estates. Also, many jurisdictions require or encourage STEP membership.
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At what stage in my career should I take the exams?
You can begin studying the STEP Certificate at any stage in your career, however, it is recommended that applicants have some experience or have undertaken some study of the core areas covered in the certificate, namely trusts, tax and estate planning.
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What are my long-term career prospects?
The fact that you have completed a STEP qualification shows a knowledge and understanding of trusts and estates that will be converted into a practical, applied competence.
Once you have successfully completed the Certificate, you will be able to deliver more holistic investment and financial planning advice to clients through understanding the estate planning factors (legal and taxation). In particular, for those advising trustee clients, you will have an appreciation of the interaction points between the legal and taxation factors which impact upon a trust and how these affect the position of the beneficiary. You will also be more confident when talking to other professionals on issues relating to the use of trusts in estate planning. You will be affiliated with the premier professional body dealing with the stewardship of personal wealth and so develop enhanced professional credibility and be better placed to win new clients, in particular from law firms, as you build your business through developing a wider, more fruitful and profitable network.
Should you go on to study the STEP Diploma and become a full member of STEP, you will be entitled to use the letters TEP (Trust and Estate Practitioner) after your name. This will enhance your professional credentials, as members of STEP are the most experienced and senior practitioners in the field of trusts and estates and are recognised as the experts to whom others turn to for good quality advice.
The TEP designation and specialist qualifications also offer market advantage, transferable experience and a salary premium.
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Will I have flexibility in my career?
Yes, the qualification covers a number of different topics in the modules set, which allows you to have a more rounded understanding of the field of trusts and estates.
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Which areas can I specialise in?
STEP members specialise in many areas, including:
- Charities - Formation and Administration
- Company Formations
- Company Management
- Compliance
- Contentious Trusts
- Estate Administration and Accounting
- Estate Planning
- Executorship and Probate
- Family Office Administration
- Foundations
- Insurance
| - Investments
- Mediation
- Mental Capacity Issues
- Philanthropy
- Probate
- Rural Family and Business Administration
- Tax Planning
- Trust Accounting
- Trust Administration
- Trust Formation
- Will Writing
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What opportunities for professional development are there?
It is compulsory for STEP members to continue their professional development in order to ensure that they maintain a high standard of professional practice and so protect the interests of their clients and the Society. In order to help maintain this high standard, the Society has comprehensive CPD schemes for members in England and Wales, Scotland and those working in the "low tax" jurisdictions.
Visit www.step.org/cpd
to learn more about the specific educational programmes provided.
STEP also hold various conferences and events which provide structured training. For full details visit www.step.org/conferences.
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