AFA relaunches Masters-linked adviser designation
The Association of Financial Advisers (AFA) has relaunched its adviser designation, linking it to an education program that will provide members who complete the course with advanced standing into Kaplan’s Master of Financial Planning.
The AFA currently offers three designations to members: the Chartered Life Practitioner (ChLP), the Associate Chartered Financial Practitioner (AchFP) and the Fellow Chartered Financial Practitioner (FchFP), with the last of these tied into a Masters program offered by Kaplan Professional.
AFA chief executive Brad Fox said the association had been working with Kaplan for the latter half of 2013 to redevelop the education requirements required for the FchFP. It would provide members with 89 continuing professional development units across the four units of the course.
Campus AFA head Nick Hakes said the new curriculum was designed to allow AFA members with various levels of professional education to access the course and gain the FchFP designation.
“We wanted to create an open pathway for people with mixed backgrounds who are within the advice profession - and the FchFP course articulates one for one accreditation with the Kaplan Masters of Financial Planning qualification,” Hayes said.
“The course is also set beyond the minimum standard set by the Australian Securities and Investments Commission and will apply post-graduate level thinking into the planner’s practice.”
Kaplan Professional chief executive Brian Knight said AFA members now have an educational pathway that embraces the Diploma of Financial Planning, Advanced Diploma of Financial Planning, or a bachelor qualification into a masters qualification.
He said it provided sufficient scope to allow AFA members to be compliant with updated ASIC RG146 requirements to be released later this year.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
