Express accreditation pathway for CFPs

CFP SMSF accreditation

Certified financial planners will have a new express specialist accreditation avenue to the SMSF sector effective January 2023.

The SMSF Association has made available a new express specialist accreditation pathway for practitioners with a certified financial planner (CFP) designation with the Financial Planning Association of Australia.

The new initiative was announced at the FPA 2022 Professionals Congress held in Sydney last week.

“At this conference yesterday the SMSF Association did launch a new accreditation pathway for CFPs. So If you are a CFP from January next year you can enter our [SMSF specialist advisor (SSA)] accreditation program at half the cost that normally applies,” SMSF Association deputy chief executive and director of policy and education Peter Burgess told delegates during his presentation at the event.

Apart from the reduction in the conventional fee charged for the program, a two-step process will apply for CFPs looking to take up the offer. To this end they will not be required to complete and attain a passing grade on the SMSF Association’s standard education modules.

Instead, practitioners who take advantage of the express SMSF accreditation pathway will be supported with learning material and an optional virtual drop-in session before sitting the SSA exam after they’ve enrolled in a cohort.

“[So] you will need to pass our exam and you will need to become a member of the association,” Burgess said.

Existing CFPs will only incur a fee of $990 for the program and will have to take out an associate membership of the SMSF Association as well.

The SSA program is aimed at ensuring practitioners specialising in the delivery of services to SMSF clients achieve and maintain the highest professional standards. Once an individual has passed the requisite exam they will have the further responsibility of satisfying continued professional development obligations designed to provide validation the adviser’s competence, expertise and knowledge are current.

“Passing our accreditation program is a great way for you to be able to show your peers and your clients that you have that deep knowledge that’s required to give competent self-managed super fund advice,” Burgess noted.


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