FPA – no degree, no membership
The Financial Planning Association (FPA) has lifted the bar on membership, requiring that from July 2013 membership only be open to new members with an approved degree.
The new requirement was part of headland statements delivered to the FPA’s national conference on the Gold Coast with the organisation’s chairperson, Julie Berry (pictured), also saying that from the same date all new members would be required to undertake a supervised professional year program to ensure they had earned the right to represent FPA professionals in the community.
Underpinning the move is the establishment of a Financial Planning Education Council made up of university academics, the profession, industry participants and stakeholders, which will be named the Financial Planning Education Council.
The Financial Planning Education Council will be responsible for approving higher education programs in professional financial planning for entry into FPA membership.
Announcing the move, Berry acknowledged that it would challenge members but added “we believe that taking this step sends a clear signal to the community, the Government and the industry that we believe it is no longer sufficient to simply complete government-mandated education and training requirements.”
AUTHOR
Mike Taylor
Recommended for you
Commentators have discussed how value for money is becoming more critical than ever as licensee fees rise and failure by an AFSL to provide this is driving them to self-licensing.
The final terms of reference for the Dixon Advisory inquiry have been released by the Senate economics references committee, and advisers have just over five weeks to make their submissions.
Financial advisers are in the running to win one of the coveted Women in Finance Awards 2024.
The rising costs of operating a financial advice practice has been ranked as the number one challenge for advisers today, outpacing administrative and compliance burdens.
