FPA chief executive Dante De Gori has responded to members’ questions about the impending education standards and what they will mean for existing advisers.
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— 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— AD (@ozajd) February 9, 2018
tertiary qualifications? Is it a lower standing than a master and/or degree?
What percentage of advisers do you expect to leave the industry by 1/1/2024? #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
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.
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.
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