Announcements

FASEA approves education credits for AFA and SMSFA coursework

Jun 27, 2019

MEDIA RELEASE

The Standards Authority has today confirmed the recognition of coursework from the Association of Financial Advisers (AFA) and Self-Managed Super Fund Association (SMSFA) as part of its education standards for financial advisers.

Advisers who have completed, AFA’s Fellow Chartered Financial Practitioner (FChFP) and Chartered Life Practitioner (ChLP) commencing in or after 2013, have been awarded two credits for recognition of prior learning (RPL) in line with the application submitted by the AFA.

Advisers who have completed the SMSF Association’s, SMSF Specialist Adviser designation commencing in or after 2005, have been awarded 1 credit for RPL in line with the application submitted by the SMSF Association.

“The awarding of credits for coursework to attain the AFA and SMSFA designations provides appropriate recognition to existing advisers who have undertaken these further studies,” FASEA Chief Executive Officer Stephen Glenfield said.

BACKGROUND

FASEA’s review of the programs follows an application from each of the professional associations and is in line with the RPL sought. The approval is recognition of the course content and assessments advisers are required to undertake to successfully complete the program.ensures open cooperation between the two regulatory bodies as the Standards Authority works to establish its educational framework for financial advisers. 

A maximum of two credits towards completion of higher education requirements can be awarded for an existing adviser who has completed one or more of the prescribed approved courses to attain a professional designation. 

For example, existing advisers would receive two credits towards completion of an eight course FASEA approved Graduate Diploma if they have completed the AFA’s FChFP or ChLP as described or one credit if they have completed the SMSF Specialist Adviser designation as above.

FASEA is continuing to assess coursework to attain Professional Designation applications that have been received from Professional Associations. The full list of approved courses can be found on the FASEA website (link).

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.

 

 

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.