FPA comments on FPEC accreditations

A review of FASEA’s approved education pathways for advisers conducted by ifa found a majority of available courses are presently only accredited for students who enrol before the end of 2018.

Currently, only seven undergraduate courses and one postgraduate course will still be accredited post 31 December 2018, according to the approved course list on the FASEA website (and adopted from FPEC’s own).

Responding to questions from ifa, FPA head of academic relations Howard Cook confirmed those courses due to expire before the end of the year “will be reaccredited prior to expiration”.

When asked why a large number of courses were due to lose their accreditation this year, Mr Cook explained that FPEC expects FASEA to conduct its own accreditations from 2019 onwards.

“FPEC has rolled over degrees expiring in 2017 for 12 months until the end of 2018 with the view that FASEA will be taking over this role,” he said.

“We will be guided by FASEA about when they will be taking over the accreditation of degrees. FPEC will continue to provide accreditation as requested by FASEA.

“FPEC has a professional relationship with all of the tertiary providers engaged in financial planning education and this will continue beyond FASEA taking over the accreditation process. FPECs involvement reached beyond accreditation.”

Mr Cook did not provide further clarity on what actions advisers should be taking now, but said advisers looking to commence further studies should base their education decisions on FASEA’s already available guidance.

“Reference should be made to the FPEC approved degree lists and studies should be completed with a tertiary provider on the list,” he said.

“Individuals should talk to the key contact at the education provider about entry, exemptions costs and study options.”

The FPA is yet to respond to questions relating to the latest update to FASEA guidance for existing advisers and implications for the CFP designation.