Industry education provider Kaplan Professional has partnered with the College for Financial Planning to offer three globally-recognised designations in Australia that it says will enable financial advisers and financial services professionals to further differentiate themselves as specialists in a particular area of financial advice.
Kaplan states that the College for Financial Planning, a Kaplan US company, introduced the Certified Financial Planner certification in the United States over 50 years ago, and it’s now the world’s most recognised financial planning credential.
It says the College for Financial Planning today is one of the largest worldwide providers of financial planning designations with 12 global certifications available and more than 100,000 holders worldwide.
The first three specialist designations that will be made available in Australia through the partnership are:
- Financial Paraplanner Qualified Professional
- Chartered Retirement Planning Counsellor
- Accredited Behavioural Finance Professional
Kaplan says individuals can apply to earn each one of these globally-endorsed designations based on their previous studies with the organisation whether that be specific subjects or a full qualification, with many being eligible to apply immediately.
CEO Brian Knight says the introduction of the designations to the Australian market “…offers more ways for individuals to showcase their hard-earned expertise and knowledge, enhancing their credibility and trust in the eyes of consumers.”
He says that since the introduction of the Financial Adviser Standards “…we have had thousands of individuals who have completed their education pathways with us; many would already meet the educational criteria to be eligible for these designations.”
Knight notes that with the legislation of the experience pathway “…we have received strong feedback that those who have committed to their education pathway should be aptly recognised – we want these designations to be one form of reward for their efforts.”
He adds that the three designations serve a distinct purpose “…and offer a point of difference from other industry designations; millions of Australians are expected to retire in the next decade, a behavioural finance approach to advice can help differentiate services and better serve clients, and formal recognition of the highly skilled and valuable role of the paraplanner is important.”
…there will be significant appetite amongst the Australian financial advice community to bolster their credentials…
Kaplan believes there will be “…significant appetite amongst the Australian financial advice community to bolster their credentials, complementing their education, experience and any other designations they may have earned with an industry association.”
It intends to make more College for Financial Planning designations available to the Australian market in the near future.
Kaplan notes that in addition to the tuition fees with associated course/subjects they may be required to complete, individuals will be required to pay a one-off $395 fee to assess and issue the certification. A certification can be renewed every two years for $90 provided any annual CPD requirements under the Financial Adviser Standards are maintained.
It says that as an introductory offer the certification fee is discounted by 15% until 30 June 2024.
