Advisers who have attained a professional designation from the Association of Financial Advisers (AFA) have been given one credit for recognition of prior learning (RPL) by the Financial Adviser Standards and Ethics Authority (FASEA).
FASEA stated advisers who have completed coursework to attain the AFA’s fellow chartered financial practitioner (FChFP) and/or the chartered life practitioner (ChLP) designation between May 2009 and June 2013 would receive the single credit for RPL.
The same would apply to advisers who had completed the Professional Diploma in Stockbroking coursework to attain the Stockbrokers and Financial Advisers Association (SAFAA) specialist designation from 2001.
The authority also approved two bridging courses offered by Swinburne University as being available for existing advisers to meet FASEA’s Education Standard.
The courses – Financial Advice Regulatory and Legal Obligations, Behavioural Finance: Client and Consumer Behaviour – were recognised following an application from the university.
“The awarding of credits for coursework to attain the AFA’s and SAFAA’s designations provides appropriate recognition to existing advisers who have undertaken these further studies. The approval of Swinburne’s bridging courses build on the body of courses approved by FASEA and provide additional choice to advisers seeking to meet the education standard,” FASEA chief executive Stephen Glenfield said.
FASEA has added the approved RPL courses to its Approved Recognition of Prior Learning list, and will also add them, along with the approved bridging courses, to any updated future Degree, Qualifications and Courses legislative instrument.
The most recent instrument was released on 5 February and updated the previous instrument registered in December 2018, and added new degree, bridging and postgraduate course providers.
Since 2017, the authority has approved 66 historical courses, 63 current bachelor or higher degrees and 27 bridging courses that meet the required curriculum and education standards that apply from 1 January 2020.