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What our students say

Professional Standards of Financial Advisers 2016

Integrity Education's recommendation to current & aspiring Financial Advisers

Professional Standards of Financial Adviser Information Graphic

Integrity Education believes that all students currently in the financial advice industry or planning to enter the financial advice industry would be well placed to ensure they have completed both their Diploma of Financial Planning (FNS50615) and Advanced Diploma of Financial Planning (FNS60415) prior to mid-2016 (when the new legislation is expected to be finalised and formally introduced), or at the very latest 30th June 2017.

Why?

  • Save time – receive between 6 to 12 credit / recognition of prior learning towards a tertiary qualification (depend on particular University)
  • Save money – less time in Tertiary courses means lower course fees.  Moreover, subjects at the vocational level are significantly cheaper than a Higher Education-level degree – so get more study done at cheaper rates.  VTG funding may even apply!
  • Get ahead of your competition - you'll be in a strong position regardless of the outcome of the on-going grandfathering arrangements and transitional arrangements debate.
  • You will not have to complete a Professional Year program – one less hurdle!
  • If there are transitional arrangements put into place, it may increase the odds that you'll qualify for the transitional arrangement criteria - qualifying as an existing adviser rather than a "new adviser".
  • You'll be better skilled and more knowledgeable to complete a compulsory National exam for financial advisers.

Integrity Education's course advisers can you assist you to ensure that you are well positioned for the coming changes in the financial services industry.

Useful Resources

FPA - Victorian Chapter Presenation (26th May 2016) - Slide Presentation

Industry Responses (to Darft 1)

  • Generally supportive
  • Want further clarification and details
  • Mindful of the impact on talent availability and associated costs (time and money)

AFA https://www.afa.asn.au/sites/default/files/uploaded-content/field_f_content_file/afa_professional_standards_submission_summary_january_2016.pdf

FPA http://fpa.com.au/wp-content/uploads/2016/01/2015_12_24_FPA-Submission_Exposure-Draft-Corporations-Amendment-Professional-Standards_FINAL-002.pdf

CPA https://www.cpaaustralia.com.au/~/media/corporate/allfiles/document/professional-resources/financial-planning/treasury-corporations-amendment.pdf?la=en