The Financial Adviser Standards and Ethics Authority (FASEA) has awarded two recognition of prior learning (RPL) credits for advisers who completed the certified financial planner (CFP) program coursework prior to 2004.
FASEA stated it had approved an application from the Financial Planning Association (FPA) to recognise the coursework required to attain the ‘historical’ CFP designation.
Advisers who completed the CFP 1-4 program coursework after 1 July 1999 and before 31 December 2003 are eligible to have the credits awarded for RPL in an approved graduate diploma.
“The awarding of credits for the CFP 1-4 program coursework to attain the FPA CFP designation provides appropriate recognition to existing advisers who have undertaken these further studies,” FASEA chief executive Stephen Glenfield said.
The FPA’s current CFP program was recognised for prior learning in March and advisers who completed the five-unit program, which started in the second half of 2003, also received two credits.
The approved RPL will be added to FASEA’s Degree, Qualifications and Courses legislative instrument, which at present lists the following professional associations and the courses to attain a professional designation that have been recognised for prior learning:
- FPA – five-unit CFP program commenced after 2003,
- Association of Financial Advisers – fellow chartered financial practitioner (FChFP) program commenced in or after 2013 and chartered life practitioner (ChLP) program commenced in or after 2013,
- SMSF Association – SMSF specialist adviser (SSA) – nine topic areas,
- Chartered Accountants Australia and New Zealand – chartered accountant (CA) program commenced in or after 1972,
- CPA Australia – certified practising accountant (CPA) program commenced in or after 1989 and CPA program including at least one financial planning elective,
- Portfolio Construction Forum – certified investment management analyst (CIMA) program commenced in or after 2001, and
- CFA Society of Australia – certified financial analyst (CFA) program.