FPA teams up with universities ahead of reform deadlines

In a statement yesterday, the FPA said it had been co-ordinating with universities across Australia, as well as the Financial Planning Education Council (FPEC), to “develop flexible programs that will meet the diverse needs of new entrants and transitioning planners”.

FPA chief executive Dante De Gori said, “The positive response we’ve received from universities across Australia so far is testament to the growth and importance of financial planning as a profession in this country.”

However, some states are lagging behind in developing programs for current and aspiring financial planners, Mr De Gori said.

“There are currently no degrees or financial planning subjects offered in Tasmania, South Australia or Western Australia. In light of this, FPA representatives will continue to work with FPEC on the development of accredited courses across all states and territories, in order to meet the needs of planners everywhere,” he said.

FPEC chair Dr Mark Brimble said the implementation of new standards would help to strengthen the financial planning profession.  

“FPEC has been working to raise the standards of financial planning education for the past five years, at the same time as highlighting to students the benefits of planning as a career. By providing organisations and individuals with flexible options to meet the new education standards, we can further enhance the already high standards in the financial planning profession,” said Dr Brimble.

The deadlines for reaching the minimum education standard of a degree or equivalent status is 1 January 2019 for new financial planners, and 1 January 2024 for planners currently practising, the statement confirmed.