AFA general manager of member services and campus Nick Hakes has been reappointed to the International Certification and Standards Board of the Asia Pacific Financial Services Association (APFinSA).
In a statement issued by the AFA, Mr Hakes said Australia, Hong Kong and Singapore have formed a strong partnership and established education ties to “enhance practitioner-focused education” right across the Asia-Pacific region for the financial advice profession.
“We are committed to working with the other member associations of APFinSA to continue to redefine adviser education,” he said.
“Across the globe, the Fellow Chartered Financial Practitioner designation is taking off, and we are proud to have such an innovative and modern designation that reflects the importance of balancing academic rigour with high-value applied practice development."
Mr Hakes also said that the economic gravity of the world is “shifting from the west to the east” and that Australia is well placed to play an important leadership role in the Asia Pacific.
“We have one of the finest and most mature financial advice industries in the world. The recent focus on higher education standards can only enhance our reputation overseas and importantly deliver great advice to more Australians,” he said.
“It makes sense then that an international benchmark for adviser education should reside here in Australia.”
Mr Hakes added that an Australian university education is “very attractive” to other countries and is a key export market for Australia.
“In our conversations with the other regional associations, the fact that we have built a professional designation specifically through the lens of a practitioner using Australian masters-level content is very attractive to the other countries,” he said.
Magellan wrapped up a tumultuous year with a 9 per cent drop in average funds under management.
With more still to come.
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