The FPA has warmly welcomed FASEA’s provision of some clarity on minimum mandatory education standards for financial advisers.
In a statement issued on Thursday, the association said it "congratulates" the government body on its release of consultation papers.
"The Financial Planning Association of Australia (FPA) congratulates the Financial Adviser Standards and Ethics Authority (FASEA) for releasing the remaining consultation papers, which finally provide financial planners with a sense of direction as to what the minimum standards will be,” the statement said.
The statement featured comments from FPA chief executive Dante De Gori expressing support for FASEA's mission and approach but making clear the FPA will be scrutinising the details.
“With so many elements to the new education and standards framework, and with limited time, it was important to put these papers out for consultation,” Mr De Gori said.
“The FPA supports the work FASEA needs to do in establishing minimum criteria for the professional year, exam and CPD, however, notes that the criteria still need to be practical and workable.
“The FPA has extensive experience and expertise in the areas of examination and CPD, and we will be closely reviewing the proposed minimum criteria to ensure they are reasonable, as well as recommending amendments where relevant.”
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