While the statement references only an unnamed “media article”, The Australian Financial Review and Business Day yesterday ran an article arguing that “the difference between a CFP and FChFP is massive, with the latter enabling planners without degrees to do four subjects of a non-technical nature and meet the ‘new’ requirements set by the institutions”.
The comments sparked a war of words on Twitter between AFA and FPA members, with AFA chief executive Brad Fox rebuking article author Adele Ferguson for disregarding the “facts”.
The official statement from the AFA explains that the FChFP is focused on technical content as well as professionalism, including units on ethics.
“A media article today wrongly reported that the AFA’s FChFP enables advisers without degrees to complete four subjects of a non-technical nature and that not one of these subjects requires an ethics component,” Mr Fox said.
“This is quite simply wrong – in fact, the FChFP does require extensive technical knowledge assessment and ethics, subject four, which represents one quarter of the designation, is focused on ethics and professional conduct and the entire course is set at the Masters level.
“It is very disappointing to see inaccurate reporting around an issue as important as financial adviser education.”
Adele Ferguson is a one trick pony when it comes to reporting on financial advisers . Keeps on rolling out the CBA whistle blower for an opion. In most instances they are both wrong . People in the industry have tried to open her eyes the facts , but her attitude is dont let the facts stand in the way of a sensational headline. The only saving grace is that most of us have more friends on twitter or facebook than the Age have readers. Finacial industry should not support advertising in the rags that this media stable produces .
well you only have to some read Ferguson’s backlog of agenda loaded articles to see why she would print this. Unfortunately she would have been well paid for the article given the uproar it caused.
Definition of hypocrisy – Journalist using their paper to promote their ill informed opinions that criticize the unethical behavior of another profession.
Where are the professional/ethical standards for journalists ? Agree with other comments that they will reap what they sow. I too stopped my subscription to the AFR years ago in protest at the poor standards. If I want to read opinions, there are numerous free sources.
The Age newspaper has a long and proud history of integrity and honest reporting. So it is sad to see some of their journalists dragging the paper through the mud. Lies, half truths and misleading information are now dished up on a daily basis to try and sway politicians and the public to their point of view. The financial community has now lost respect for this once great masthead. The general public won’t be far behind. They will see through this nonsense over time. What goes around, comes around.
Must say I love the placement of the CFP ad in the middle of this article. I wonder now she’s been proven wrong whether Adele Ferguson will show ethical conduct and set the record straight. I suspect we’ll be waiting a long time for that to occur.
Adele Ferguson disregarding facts! I stopped reading the AFR years ago when it turned into the news print version of a supermarket glossy. Thinner and less entertaining. Given the circulation numbers so have many others. Adele Furguson is part of the anti advice/adviser cheer squad. Her performance on Inside Business on the ABC was cringe worthy for its lack of understanding on finance which is consistent with her dribblings in the AFR/Age. This episode is no different.
Well done Mr Fox.
Adele Ferguson needs to check her facts more often.
She writes with an agenda and little understanding of the wider industry.