Announcements

FASEA approves education credits for CIMA and CFA coursework to attain a Professional Designation

Aug 9, 2019

MEDIA RELEASE

The Standards Authority has approved applications for the recognition of coursework to attain a professional designation from the Portfolio Construction Forum and CFA Societies Australia as part of its education standards for financial advisers.

Advisers who have completed coursework to attain the CIMA designation in or after 2001, offered by the Portfolio Construction Forum, have been awarded one credit recognition for prior learning (RPL).

Advisers who have completed coursework to attain the Chartered Financial Analyst designation, offered by CFA Societies Australia, have been awarded one credit for RPL.

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

For guidance on courses required to meet the Education Standard, Advisers are invited to use the online Education Pathways tool (link) or apply to FASEA using the Australian Qualification Feedback Service (link).

Additional Background
FASEA’s review of the programs follows an application from each of the professional associations. The approval is recognition of the course content and assessments advisers are required to undertake to successfully complete the program.

The approved RPL will be added to FASEA’s Degree, Qualifications and Courses legislative instrument.

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. These credits are in addition to any credits available for completing other relevant studies.

For example, existing advisers with a relevant degree who have completed the coursework to attain the CIMA or CFA designation will receive 4 credits for their relevant degree and 1 credit for their CIMA or CFA coursework. As a result, these advisers will only be required to complete three courses.

FASEA has approved credits for coursework to attain a professional designation for 8 professional associations. FASEA will continue to assess applications for credit for education undertaken towards a professional designation as they are received. The full list of approved recognition of prior learning 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.