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Yes they did....There website clearly advertised that the CFP program was "like" a Masters program. That's called false advertising, it's deceptive, it's misleading. It's poor conduct from a so called professional program. Any person who has studied a CFP I would contact the FPA and ask for 100% refund of fees back.
You woudn't want any association with an organization that states there CFP program is like a Masters degree.
Yep....deregulate an adviser because he fails to tick some boxes in one of his many onerous checklists as a result of the adviser being so busy doing all the RIGHT things by his client - but completely ignore massive businesses who rake in millions and millions of dollars each year by deliberately ignoring their clients best interests. Yeah....terrific system that seems really fair this is!
It's just absolute BS!
Well the regulator needs to make an example of the 4 directors of linchpin and send them packing they have a lot I mean a lot of questions to answer.
Hub 24 has cancelled their relationship with the group and their white label. The trustee diversa has terminated the promoter agreement with their own flagship endeavour super product and will either sell it or wind it up, it’s an imploded 600k asset paid by the iiof fund. Daly in his most recent email still looks for others to blame.
They are just doing their job with limited budget and resources in an environment that has created its own over regulated industry because of people like these greedy animals
the FPA never said their program is equal to a masters degree. it is a certification program by an industry association not an academic qualification.
it's nowhere near equal to a masters degree. it is however, written at a masters degree level (big distinction), and readily accepted as such by many institutions.
Deakin only give the CFP 4 unit exemption in their Grad Dip FP so there is the recognition bit there, but, it's still not equivalent to a masters degree, as a masters requires many more units, 12 in total compared to 4 of the CFP
if you want to do a masters, at least you get 4 credits towards a 12 unit degree, so you only have to do 8 more units.
not a bad deal, as the CFP cours fee is nearly 50% cheaper than a masters level course so you save money doing the CFP first then do the masters afterwards with some exemptions
They already do.
doe it pass the Pub Test.....??????? Let him living in fantasy land lecturing our industry!!!!!
LOL... if this whole fiasco wasn't so important and serious then it would be a great TV Series ala FRONTLINE or Shift & Shift Couriers!! The only problem we have is that whether it is Labor or Libs.. the comedy show will continue on.
If you dont have a degree and can get away with doing only 4 subjects, thats a seriously good outcome.
How do we start a campaign to have politicians from both camps do an equivalent degree in economics or business, and then sit a random exam on ethics as well? Would be money better spent!
The only option we have is to leave these institution owned associations and join a union as recommended by the AIOFP
STILL ONE MAJOR ISSUE. That exam we have to pass before there is any study material available. Common sense would dictate that we do the required courses and then sit the exam. Its back to front at the moment. A few thousand calls to the MP responsible just might wake him up to the issue or better still delay the exam till 2024 like the other requirements.
“You can’t keep fighting something that’s legislated. There has to be acceptance,” Bineham says. WHAT A COP OUT. If legislation is BAD then it MUST be changed. You don't just go along with crap legislation. No wonder our industry is in a mess with fools like this "helping us".
I think IFAAA members advertise themselves as conflict free because THEY ARE!!!!
I did wondered how accurate your remarks were and it appears either they make up their membership numbers in their annual reports or your comments are simply ignorant of the facts. It seems you have chosen to leave the FPA and probably a great relief to the FPA that you have. Perhaps you could move on to topics where you have at least something useful to contribute.
Most likely but it's not set in stone yet, despite what Mr Internet says. The 'pathway' to accreditation was set out FASEA long b4 this bloke came on the scene in this portfolio. A Grad Cert of 8 subjects, with up to 4 potentially RPL'd depending on the individual adviser & the institution offering the course.
Imagine if Product Providers could quiet clearly spell it out on their statements - "Fees paid to your Financial adviser $X." Save everyone some time for the same result!
Hang on, wait a minute......but the FPA advertised that there CFP course was "equivalent to a Masters Degree". But it's not equivalent to a Masters degree....so is this false and deceptive advertising? Could we get a class action going? On these grounds should the FPA continue to have the CFP distribution rights in Australia when their members are before a Royal Commission, the CEO's behaviour involving Sam H could be accused of standards below the community exceptions and they cannot be trusted to be a code monitoring body.
Clearly the AFA's comic relief session, otherwise why invite a muppet like Stuart Robert to address advisers.
What have these guys done to stop the complete education BS? Course floggers and red tape creators trying to make things harder than they need to be.
That’s how I read it. Still a complete sham and waste of time. Clowns a solute clowns running this ridiculous show. Just virtue signalling at its best.