‘End of an era’ for key advice qualifications

ASQA has removed the FNS50615 diploma of financial planning, FNS60415 advanced diploma of financial planning and three tier one personal advice units of competency in financial planning, margin lending and superannuation for its VET national register. Advisers already involved will be able to continue their studies.

“Although thousands of advisers have relied on these courses to meet RG 146 compliance for so many years, they now no longer have the same relevance because of the introduction of the FASEA standards,” said Kaplan Professional CEO Brian Knight.

“There is demand from licensees and the industry to introduce qualifications that represent a targeted focus towards paraplanners and superannuation specialists, so we are working on three new qualifications to reflect the changing nature of the industry and meet market demand.”

ASQA will introduce three new paraplanning and superannuation vocational education qualifications, and Kaplan will apply to add the FNS60920 advanced diploma of paraplanning, FNS40920 Certificate IV in superannuation, and FNS50720 diploma of superannuation to the scope of its registration with Kaplan.

“The three qualifications are designed to provide significant benefits to the industry, where individuals develop not only in-depth knowledge and technical skills, but also the ability to support practices in developing and maintaining compliant back-office procedures,” Mr Knight said.

“This will allow financial advisers and superannuation specialists to devote more of their time and expertise to delivering best-practice advice and service to their clients.”