November 23, 2018
Advisers may be given recognition for education undertaken prior to cut-off dates listed by FASEA but will require their professional associations to request its inclusion, according to the head of the education body.
Addressing delegates at the 2018 FPA Congress in Sydney last week, FASEA Chief Executive, Stephen Glenfield said the inclusion of the CFP and FChFP designations in recognition of prior learning was to serve as an example for the treatment of designations under the incoming standards.
Responding to questions from FPA Chief Executive Dante De Gori, Glenfield said the designations quoted in a recently released education policy statement “…were prime examples of designations where we know what was in the study undertaken and we are comfortable with that”.
“For all the other designations that are out there, the accreditation policy puts in a process to apply for certification and I expect that most of the major associations that offer education will come to us and we will assess those as quickly as we can,” Glenfield said.
Seeking clarification on the dates listed, De Gori asked if an organisation like the FPA could submit a designation that was offered prior to the dates listed by FASEA and receive accreditation if it was approved by FASEA
“That is correct. We chose a couple of examples we knew very well, it is now for the associations to make that representation,” Glenfield said, adding that while an adviser may hold more than one professional designation they would only receive a maximum of two credits towards the new education standards.
Glenfield also told attendees that Adviser Exam would be applicable for all practitioners but had yet to finalise the number of resits available for those who fail the exam.
“The exam is targeted at a level that we expect all planners to be able to do, and specialisation exists over and above that,” Glenfield said, adding that FASEA was looking at an exam structure that would require advisers to only resit the parts of the exam they may have failed.