It says it will pay out up to $500,000 in funding and training support to help with the upskilling of New Zealanders in the financial services industry.

The subsidy will only be payable upon the successful completion of a full qualification.

Michael Frampton, ETITO Manager - Corporate Relations and Strategy, says the training subsidies are designed to provide additional support to the industry, particularly as it heads into an era requiring heightened attention to professional development.

"Our investment is a significant one that we believe will provide added impetus to professional development across the broader financial services industry," Frampton says.

"There is a strong training and assessment infrastructure in place for financial advisers that need authorisation under the new financial services regime but we, and the industry, recognise that there is a need to support those in other finance sector roles to get involved in the professionalisation of the industry."

The National Certificate in Financial Services [Level 4] is designed for financial services professionals engaged in a customer advice, product advice or technical or support roles, such as customer service representatives working with a qualified financial adviser.

To gain the qualification, candidates must demonstrate competence in both generic and professional skills which are covered by compulsory and elective standards. The compulsory skills and knowledge include principles of professional practice in a financial services organisation.

Details of any funding support for trainees that enrol after the end of 2010 will be announced early in 2011.