The Financial Planning Association of Australia (FPA) has announced new training measures designed to address what it sees as limitations to adviser compliance requirements set out in RG146.
From 1 July 2009, a new Continuing Professional Development (CPD) policy to be introduced by the FPA is intended to provide ’…a broader and more rigorous framework for FPA members to undertake ongoing professional development to ensure optimal advice is provided to people seeking the help of professional planners across Australia.’
The new policy includes the introduction of six new ‘Professional Dimensions’ to describe the areas of education:
- Capability
- Ethics and Professional Conduct
- Critical Thinking
- Reflective Practice
- Interdependence
- Attributes and Performance
FPA Deputy CEO and Head of Professionalism, Deen Sanders, said “We are very proud of this CPD Policy. It is a leap forward for the profession and a clear recognition by FPA members of the limitations of RG146. It is also vindication of our view that compliance and technical education alone does not make you a professional,” said Mr Sanders.
According to the FPA, the CPD policy aims to encourage its members to:
- Promote CPD as an opportunity to grow individual professional proficiency and professional enjoyment rather than just a traditional compliance obligation
- Broaden the range and type of the CPD activities available with a wide range of choice
- Reflect on professional practice with a view to optimising client service
- Participate in learning activities consistent with professional, legal and ethical obligations
- Pursue opportunities for engagement with the profession and the wider community
- Encourage members, educators and employers to identify, develop and undertake more meaningful development opportunities that will add real value to personal and professional growth
In other FPA news, the Association has recently reported that it has enrolled almost 700 financial planners into its 2009 CFP Certification program, following the graduation of 383 candidates who successfully completed its 2008 program.
Despite the present global financial crisis, the FPA reports its various CFP program enrolments are ahead of its forecasts, which has pleased CEO Jo-Anne Bloch, who said investors will benefit from having access to more CERTIFIED FINANCIAL PLANNERTM practitioners.
“The benchmark for certification under the program is very high, so investors can trust that a CERTIFIED FINANCIAL PLANNER practitioner will have the advanced knowledge and skills required to provide valuable, tailored advice,” said Ms Bloch.
