The Financial Planning Association of Australia (FPA) has rolled out Return to Learn, an online portal to help advisers understand the Financial Adviser Standards and Ethics Authority (Fasea)’s higher education requirements.
The system aims to give access to information on the latest education and ethics policy developments, as well as study tools.
It includes “accurate explanations” of Fasea policies, its Code of Ethics and education tools in one hub; as well as a guide to study credits, video tutorials on topics like preparing for exams, and information on various approved “tertiary education” providers.
FPA chief executive Dante De Gori said: “There are many thousands of ethical, professional, committed financial planners around Australia ready to do what it takes to meet Fasea requirements between now and 2024.
“Many are confused by misinformation flying around as to what they need to do next; however, and frankly there’s no time for confusion, Australia needs us to take the high road when it comes to education and ethics.”
Fasea reforms
Continuing professional development (CPD) standards of 40 hours a year came into force on 1 January 2019, and a key component of the financial advice reforms is a Code of Ethics that all advisers will have to comply with from 1 January 2020.
All advisers need to pass an industry exam by 1 January 2021.
Tools and information available to FPA members on the Return to Learn portal include:
- Education pathways tool – Helps members identify what further studies they will need to undertake to comply with the new Fasea education standards;
- Cost comparison tool – A programme and fee comparison of Fasea-approved degrees that helps members find the most suitable degree;
- Fasea exam study guidance – A range of resources including academic writing and referencing guides, how to prepare for exams, tips for time management and much more is available in the education hub;
- FPA CPD policy – The latest FPA CPD policy is available and has been updated to align with the new Fasea requirements. FPA members and licensees can adopt the FPA CPD policy as their own by 31 March 2019; and,
- The FPA has formally applied to Fasea for accreditation of all education pathways into the CFP Certification Programme where Fasea has not already awarded credits.
Fasea’s practice exam and recommend reading lists will also be available at a later date.
