FPA members grill CEO over FASEA

Mr De Gori took to Twitter on Friday to answer public questions related to FASEA and the incoming adviser education standards.

The questions addressed numerous issues, particularly around the proposed ‘10-year rule’ that will require advisers with relevant degrees to enrol in a new course if their previous degree is a decade or more old.

The CEO and former head of government relations at the FPA laid out the association's position, but stopped short of commenting on Dr Adrian Raftery's prediction, published in ifa, that FASEA might seek to scrap the '10-year rule'. 

This is about having a degree qualification as the new entry framework for financial planning. The FPA supports this. The question is how do you transition existing planners into this new framework & we support recognition of CPD & all studies completed to help. #AskDante https://t.co/OZYKNs78Yv

— Dante De Gori CFP (@ddegori10) February 9, 2018

I wont speculate on this - but as I have been trying to communicate this is a proposal and we have a consultation process to deal with areas of the proposal that are unfair and/or not within the spirit of the objective of these reforms. #AskDante https://t.co/PDP7zGrh31

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— Dante De Gori CFP (@ddegori10) February 9, 2018

The FPA-run CFP program was another topic of interest for those asking questions, with some questioning the value of maintaining the designation. 

I am questioning whether the #CFP is worthwhile given it isn’t on FPEC’s list. I will not be enrolling in my last subject as a result and will seek out an alternate FPEC Master’s degree where hopefully, the 4 completed are given expemtions #AskDante #FPAFAIL https://t.co/9TuDMjn9aq

— AD (@ozajd) February 9, 2018

#askdante Why doesn't the CFP qualification count towards FPEC's
tertiary qualifications? Is it a lower standing than a master and/or degree?

— AD (@ozajd) February 9, 2018

Dr Adrian Raftery himself was an active participant in the Twitter exchange, posing a number of questions to the FPA CEO.

What percentage of advisers do you expect to leave the industry by 1/1/2024? #AskDante

— Dr Adrian Raftery (@MisterTaxman) February 9, 2018

What percentage of advisers do you think will fail their university studies? @ddegori10 #AskDante

— Dr Adrian Raftery (@MisterTaxman) February 9, 2018

Do you think the suite of 101 subjects (Tax 101, Super 101, Finance 101, Investments 101, FP 101, Ethics 101, etc) are the most appropriate for experienced advisers that need to study? @ddegori10 #AskDante

— Dr Adrian Raftery (@MisterTaxman) February 9, 2018

Adviser and FPA member Jason McFadden challenged Mr De Gori over the FPAs commitment to its members.

#dante @ddegori10 Get over it. Clearly you don't take this issue serious. #FASEA will have a major impact on Financial Planning and you are not taking mbrs concerns. https://t.co/Jb4kgnv9eh

— Jason McFadden (@JPMAdvice) February 9, 2018 

Why would you be so stupid as to submit FPEC list to FASEA #askdante https://t.co/QuKOLRaE08

— Jason McFadden (@JPMAdvice) February 9, 2018

In response to this, Mr De Gori told Mr McFadden there was "no need for that language" and asked that he and other individuals asking questions remain respectful and constructive in their comments.

Mr De Gori continued to answer these questions for a full hour, with some members praising him for responding to their questions. 

#ThanksDante you can now sit back and relax #AskDante @ddegori10 @AustraliaFPA pic.twitter.com/Yz3YbuYibM

— Cara Williams (@_cara_williams) February 9, 2018

The twitter exchange follows a number of concerns raised by FPA members to ifa about the FPA's relationship with FASEA and role in the mandatory education regime.