{"id":42198,"date":"2018-09-07T17:00:34","date_gmt":"2018-09-07T07:00:34","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=42198"},"modified":"2018-09-12T02:16:41","modified_gmt":"2018-09-11T16:16:41","slug":"retain-dfp-for-non-advice-roles","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2018\/09\/07\/retain-dfp-for-non-advice-roles\/","title":{"rendered":"Retain DFP For Non-Advice Roles"},"content":{"rendered":"<p>The Diploma of Financial Planning (DFP) should be retained for the training of financial services professionals who do not provide advice but who will need some further training, according to Mentor Education Group principal, <strong>Dr Mark Sinclair<\/strong>.<!--more--><\/p>\n<figure id=\"attachment_32764\" aria-describedby=\"caption-attachment-32764\" style=\"width: 154px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/03\/MarkSinclair-150x180.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-32764\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/03\/MarkSinclair-150x180.jpg\" alt=\"\" width=\"154\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-32764\" class=\"wp-caption-text\">Mentor Education, Principal, Mark Sinclair<\/figcaption><\/figure>\n<p>He said while the DFP would no longer be applicable for use by financial advisers under new education proposals, it would be the \u2018qualification of choice\u2019 for people entering financial services as an associate adviser, paraplanner or client relationship manager.<\/p>\n<p>\u201cThe DFP and Advanced Diploma of Financial Planning have both served the industry well (and will continue to do so) having evolved since inception to meet the needs of advisers, stakeholders and regulators,\u201d Sinclair said, adding the current focus on education is about advisers meeting the proposed FASEA requirements.<\/p>\n<h6>&#8220;The age of compliance will require the entire advisory practice to be on the same page as the authorised adviser&#8230;&#8221;<\/h6>\n<p>\u201cThe reality is that post 2024 will be the era of compliance and entry level qualifications, ongoing professional development and study won\u2019t be restricted to, and the exclusive obligation of the adviser or principal alone,\u201d he said.<\/p>\n<p>\u201cThe age of compliance will require the entire advisory practice to be on the same page as the authorised adviser in order to operate efficiently and effectively,\u201d Sinclair added.<\/p>\n<p>As such, there will be a need for two sets of qualifications after 2024, according to Sinclair, with the DFP suited to advisory practice operational staff as well as client relationship managers, paraplanners and prospective advisers.<\/p>\n<p>\u201cNo doubt many cynics will say the DFP for operational staff is overreach, expensive and inconvenient.\u00a0 In reality it represents a prime opportunity to expand the knowledge base and appreciation of staff to the demands of advice delivery, with both the individual and business the beneficiaries,\u201d Sinclair said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Diploma of Financial Planning (DFP) should be retained for the training of financial services professionals who do not provide advice but who will need some further training, according to Mentor Education Group principal, Dr Mark Sinclair.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,248],"tags":[],"class_list":["post-42198","post","type-post","status-publish","format-standard","category-compliance-regulation","category-training"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/42198","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=42198"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/42198\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=42198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=42198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=42198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}