{"id":43397,"date":"2019-01-17T09:09:06","date_gmt":"2019-01-16T23:09:06","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=43397"},"modified":"2019-01-23T06:46:40","modified_gmt":"2019-01-22T20:46:40","slug":"fasea-softens-education-pathways-requirements","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/01\/17\/fasea-softens-education-pathways-requirements\/","title":{"rendered":"FASEA Finalises Education Pathways Requirements"},"content":{"rendered":"<p>FASEA released the final version of its <a href=\"https:\/\/www.fasea.gov.au\/wp-content\/uploads\/2019\/01\/FPS001-FASEA-Policy-Statement-Education-Pathways-revised-Jan-2019-vFINAL2.pdf\" target=\"_blank\" rel=\"noopener\">Education Pathways Policy<\/a>, in which it has broadened the range of relevant degree subjects it will accept and extended the opportunities for advisers to access credits in recognition of prior learning.<\/p>\n<p><!--more-->In a statement from the Authority accompanying the release of the final version of its Education Pathways Policy, FASEA notes the amount of education an adviser will be required to undertake will depend on the amount of education they already have.<\/p>\n<p>As in earlier drafts, FASEA says recognition of prior learning will be available for:<\/p>\n<ul>\n<li>An advanced diploma of financial planning (including the historical 8 course Diploma of Financial Planning)<\/li>\n<li>Completion of approved coursework to attain a designation<\/li>\n<\/ul>\n<p>In this final version, however, the Authority has added a third avenue for recognition of prior learning, which is:<\/p>\n<ul>\n<li>Completion of relevant degree subjects<\/li>\n<\/ul>\n<p>For this additional avenue, FASEA notes: &#8220;Advisers holding a non-relevant degree who have completed between 4 and 7 of the relevant degree knowledge areas will be awarded 2 credits as recognition of prior learning.&#8221;<\/p>\n<p>Following industry feedback, the term &#8216;relevant degree&#8217; has also been expanded to include financial planning and investments studies. FASEA states: &#8220;Financial planning (including financial advice areas of superannuation, retirement, insurance and estate planning) and investments (including investments such as shares, derivatives, foreign exchange and options) have been added as relevant degree subjects.<\/p>\n<p>The following table details the recognition of prior learning and the consequent number of subjects that will be required of advisers for each of the different pathways defining existing advisers:<\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-43400\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-1.jpg\" alt=\"\" width=\"1476\" height=\"848\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-1.jpg 1476w, https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-1-300x172.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-1-768x441.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-1-1024x588.jpg 1024w\" sizes=\"auto, (max-width: 1476px) 100vw, 1476px\" \/><\/a>This second table, also taken from the Authority&#8217;s final FPS001 Education Pathways Policy, provides a summary of FASEA education pathways for both new entrants and existing advisers:<\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-43401\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-2.jpg\" alt=\"\" width=\"1476\" height=\"780\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-2.jpg 1476w, https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-2-300x159.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-2-768x406.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2019\/01\/190115-FASEA-Education-Pathways-Chart-2-1024x541.jpg 1024w\" sizes=\"auto, (max-width: 1476px) 100vw, 1476px\" \/><\/a>Advisers can <a href=\"https:\/\/www.fasea.gov.au\/wp-content\/uploads\/2019\/01\/FPS001-FASEA-Policy-Statement-Education-Pathways-revised-Jan-2019-vFINAL2.pdf\" target=\"_blank\" rel=\"noopener\">click here<\/a> to access the final version of the Financial Adviser Standards and Ethics Authority&#8217;s Education Pathways Policy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FASEA released the final version of its Education Pathways Policy, in which it has broadened the range of relevant degree subjects it will accept and extended the opportunities for advisers to access credits in recognition of prior learning.<\/p>\n","protected":false},"author":3,"featured_media":43430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[4247],"class_list":{"0":"post-43397","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-regulation","8":"tag-feature"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/43397","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=43397"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/43397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/43430"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=43397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=43397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=43397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}