FPEC is an ‘independent body’ established by the FPA to assess and accredit higher education pathways as entry points to the CFP program, which developed the approved education pathways that were subsequently adopted by FASEA in its first guidance release.
Former chair Mark Brimble stepped down from the role February amid concerns his employment as a professor with Griffith University and position on the FASEA board may lead to a conflict of interest.
Mr Brimble was subsequently appointed interim managing director of FASEA after chief executive Deen Sanders announced his departure from the government organisation.
The University of Western Sydney recently announced the launch of a graduate diploma for advisers, which has been “fully accredited” by FPEC to meet FASEA education standards.
We need people who understand financial planning courses to be on FPEC and I think Sharon Taylor is a well respected academic, fit for this job and I wish her the best. I just hope there will be no repeat of mistakes in the future.
As for FPEC, the objective of increasing adviser education is now redundant with the introduction of FASEA. It was filling a gap, and the gap no longer exists.
While conflicts are there, I think they can be addressed. It is nothing like the Brimble conflict and that was only resolved by complete removal.
To me the conflict is the association (pardon the pun) with the FPA. They need to sever all ties with FPA to be taken credibly i.e. no more “reporting” to the FPA Board. Sounds too simple maybe?
Not really it’s time for the FPA to place the needs of Australians and advisers first. Not the needs of the FPA first. Gifting FPEC to FASEA benefits the FPA first is a classic example of this mixed priorities. Remaining silent on the CBA advice scandal in return for members which then resulted in FASEA is another example of mixed priorities. Terminate Dante, terminate the professional partner program, come down hard on advice firms that cross the line. It’s TIME FOR CHANGE.
STOP lying FPEC is not an independant board . its owned by the FPA .another disaster ??
A different academic with a conflict … seems to be the season for it.
Did you see the job ad? It was part of the position description for candidates to be an academic:
“The advertisement – which is listed by third party recruiter Paul Dickinson Consulting on behalf of the FPA – states that the position would suit an individual with “over 10 years’ academic experience at a university with expertise in financial planning education and research”.”
It is an ‘education council’, shouldn’t it’s chair be someone who works in education? There are other council members who are practising advisers.
You have zero understanding of conflicts of interest. A provider, turned gatekeeper, again.
You cannot go though life avoiding all potential conflicts of interest. As an adviser you should know that sometimes you manage a conflict of interest not avoid it.
Try telling ASIC that