FPA to push for greater CFP recognition

In an email to members seen by ifa, FPA chair Neil Kendall said the current proposal “does not appropriately recognise” advisers who have voluntarily completed, or are currently undertaking, further education.

“This includes those who have obtained an Advanced Diploma of Financial Planning or completed the education component of the CFP Certification Program,” Mr Kendall said.

“The FPA will be firmly advocating for recognition of these for degree-qualified financial planners.”

Specifically, Mr Kendall said the FPA would push to have the CFP recognised as an alternate entry point to the bridging course options outlined in FASEA’s guidance update, released by the government agency last month.

“We acknowledge that the proposal does suggest recognised prior learning will be given to this type of study, however we will be advocating for the CFP Certification Program and other financial planning study to be considered as a pathway for entry into the bridging course option for degree-qualified financial planners,” Mr Kendall said.

Last week, the FPA released a statement arguing for greater recognition of prior learning under FASEA’s updated guidance, however the statement did not include reference to the CFP.

Prior to the release of the FASEA guidance update, Mr Kendall told ifa that the CFP program would “almost 100 per cent” be considered as a bridging course under the FASEA framework.

The subsequent guidance update did not, however, mention professional designations such as the CFP.