WSU helps graduates meet FASEA changes


Western Sydney University (WSU) has become the first institution in Australia to provide a fully accredited Graduate Diploma in financial planning, ensuring graduates would meet the new Government requirements set up by the Financial Adviser Standards and Ethics Authority (FASEA).
The diploma is off the back of legislation passed in early 2017, which required new financial advisers to have a degree by 2019 and existing financial advisers to get these qualifications by 2024.
Associate professor of WSU School of Business, Sharon Taylor, said while the University welcomed the Government changes, it understands the difficulty for current workers to drop their careers and return to study to meet these requirements.
She said the Graduate Diploma would help graduates “get the qualifications they need, without having to pause their careers.”
The Graduate Diploma features a ‘challenge exam’, which allowed people with existing knowledge and experience to accelerate the course by sitting challenge assessments on a quarterly basis without having to complete a full unit of work.
Students could apply for up to four of these exams, and academic credit from previous study could also be recognised.
“This course ensures graduates meet legislative requirements, it also aids in continuing professional development,” said Taylor. “We believe it’s time to start now, and if students take advantage of our ‘challenge exam’ format, they could gradate with the Graduate Diploma within one year.”
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.