In a statement, the authority said it had approved the university’s Graduate Diploma of Financial Planning for its degree list, applying to students who took the course from 1 July 2019.
In addition, FASEA had approved two bridging courses offered by the university in Ethics for Financial Advisers and Behavioural Finance Advice.
“FASEA’s review of the courses follows an application from the university. The approvals are recognition of the alignment of the listed courses with FASEA’s required curriculum and standards,” the authority said.
“The approved courses will be added to a future degree, qualifications and courses legislative instrument.”
FASEA chief executive Stephen Glenfield said the approval of the additional courses would build on the body of courses approved by FASEA and provide additional choice to advisers seeking to meet the education standard.
The authority has now approved three historical courses, 56 current bachelor or higher degrees and 35 bridging courses.
When will politicians need to sit an exam and provide minimum educational standards to decide the laws in this country? Not to mention those at ASIC who supposedly regulate for the protection of consumers, but have no idea what it is that consumers want, and aren’t interested in listening to them either – where are their educational standards? I’ve tried to explain several times to some of their “Senior” analysts how a particular strategy or structure works and they can’t understand….while a 65 year old with no financial industry experience gets it first time.
When I tell people outside of the FP industry what’s happening in ours, they can’t believe it, The national exam, going back to study (despite age or experience) and the common theme I hear back is ‘education is theory, experience is practical application’
Sometimes that practical experience has been crafted over decades and FASEA don’t seem to think it holds any value which is a shame.
I am all for more learning as I’d imagine most advisers are but the way FASEA have gone about this is a little insulting.
I wish all Advisers & Team members out there all the best as I know you are working 3 x as hard for half the pay at the moment as well as Study, Exam prep and keeping your 6 compliance officers happy, stay strong, you are doing great and time will show that we were doing the right thing in spite of being a political football & punching bag.
In breaking news, FASEA will approve HSC completed after 2019. All those with earlier qualifications much go back and do it again.
Agree, Dip FP and all the other courses we have undertaken to be RG146 since 2000 on top of 35+ years experiences counts for nothing and they will end-up with clients being worse off, not better off with the flood of experienced advisers leaving the industry and their clients!!
How about recognising the Diploma of Financial Planning/Services from all providers and not just the FPA’s and Securities Institute’s versions. Had we known 15 to 20 years ago, our course would not be recognised in 2020, we would not have done them, and instead could have completed a course that has been recognised. If you add 15 to 30 years of experience, then I cannot see why FASEA cannot include the other courses, and give reconition to prior learning credits.
Not enough money in that for all the board members who are board members of education institutions.
The irony is the Conflict of Interest by these board members…
Yes, it is crazy that the Dip FP doesn’t count when it was a course that was required to meet RG146 and operate as an adviser.
Which is why many highly experienced Advisers will exit the industry 31/12/21 and many more will exit 31/12/25………as I also will despite my 40 years experience and despite holding a B.Bus Accounting, B.Bus Commercial Law, DipFP & DipFin……but yet FASEA considers my qualifications insufficient.