WSU clarifies ‘FASEA accreditation’ claims

On Tuesday, the university issued a statement saying its graduate diploma of financial planning was ”fully accredited” and will meet the as-yet unreleased education standards currently being developed by FASEA.

Responding to questions from ifa, the university said the course had been accredited with FPEC, a subsidiary of the FPA that the association describes as an independent body to oversee new advisers’ education. FPEC's internal curriculum was subsequently “gifted” to FASEA.

According to a Western Sydney University spokesperson, the FPEC accreditation means the course will meet FASEA’s standards.

“Graduates can be assured of the course’s accreditation. FPEC accreditation currently equates FASEA accreditation, in line with recent FPA and FASEA announcements,” the spokesperson said.

When asked to comment on the university’s claims, a spokesperson from the FPA explained that FASEA will still need to update its guidance and that the claim that the graduate diploma will ”ensure” students meet the incoming education standards had come from the university, not the FPA.

“Any new courses approved by FPEC have to then be approved by FASEA. Once approved, FASEA will then update the course on its website,” the spokesperson said.

However, the spokesperson added that the update to include the course is “expected to happen in due course”.

In February, Swinburne University announced it has also received FPEC accreditation for a number of its online courses.