{"id":32055,"date":"2016-01-12T20:47:45","date_gmt":"2016-01-12T10:47:45","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=32055"},"modified":"2016-01-13T06:01:28","modified_gmt":"2016-01-12T20:01:28","slug":"risk-education-should-be-separated-within-legislation","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/01\/12\/risk-education-should-be-separated-within-legislation\/","title":{"rendered":"Risk Education Should be Separated Within Legislation"},"content":{"rendered":"

Education pathways for risk advisers should be different than that of other financial advisers according to Synchron Director Don Trapnell<\/strong>, who has written to the Federal Government seeking a separation within proposed professional standards legislation.<\/p>\n

\"Synchron's<\/a>
Synchron’s Don Trapnell<\/figcaption><\/figure>\n

Trapnell said it was the group\u2019s \u2018long-held belief\u2019 that the education and training of financial advice practitioners should be separate according to different disciplines and the current Government position places financial planners and risk writers in the same discipline.<\/p>\n

\u201cOur letter draws a parallel between the GP and the dentist; they both have to have a basic knowledge of medicine, but then they need to go into their own areas of expertise. You wouldn\u2019t employ a GP to perform a root canal, so why should they need to know how to do one?\u201d<\/p>\n

The move builds on Trapnell\u2019s statement in December that not only should risk advisers have a speciality education stream related specifically to life insurance, they should also have any existing knowledge and experience within the life insurance sector formally recognised.<\/p>\n

\u201cFinancial advisers should be able to elect to study a specialist stream, just as students of any discipline can choose to specialize in a particular area. In the case of risk specialists, this would of course mean specializing in life insurance,\u201d Trapnell said.<\/p>\n

According to Trapnell forcing experience advisers to requalify under the proposed legislation would lead to the departure of many of those advisers.<\/p>\n

\u201cWe have serious concerns in relation to the brain drain that could occur if the proposed reforms are allowed to continue forward. There are very senior, very respected advisers within our Synchron group, including myself, who despite their many years of experience and varied qualifications will be forced to undertake a university degree in order to continue practicing.\u201d<\/p>\n

\u201cI\u00a0have almost 50 years experience as a risk adviser and\u00a0am regarded as an expert in my field,\u00a0however\u00a0I don\u2019t have a Diploma of Financial Planning, because I am not a financial planner, nor\u00a0do I have\u00a0a\u00a0financial planning university degree.\u201d<\/p>\n

\u201cLike many other experienced risk advisers, I hold formal life insurance qualifications, including Certified Insurance Professional by ANZIIF. Given my life insurance qualifications, level of experience and expertise, why should I and risk advisers like me have to\u00a0re-train? There needs to be a more practical pathway established for existing advisers,\u201d Trapnell said.<\/p>\n

This week’s RiskInfo Poll:\u00a0Different Educational Requirements for Risk Advisers?<\/a><\/p>\n

<\/h1>\n","protected":false},"excerpt":{"rendered":"

Education pathways for risk advisers should be different than that of other financial advisers according to Synchron Director Don Trapnell, who has written to the Federal Government seeking a separation within proposed professional standards legislation.<\/p>\n","protected":false},"author":3,"featured_media":32066,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,248],"tags":[4247],"class_list":{"0":"post-32055","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-regulation","8":"category-training","9":"tag-feature"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=32055"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/32066"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=32055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=32055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=32055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}