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The Financial Planning Association of Australia (FPA) has experienced a surge in demand for the CERTIFIED FINANICAL PLANNER® (CFP) certification program on the back of the ongoing debate regarding education standards of financial planners.
Enrolments of new entrants into the program have increased by 100% on last year, marking a shift in attitude by the profession.
Mark Rantall, CEO of the FPA said: “At a broad level, these results reflect a voluntary movement towards higher education standards across our profession. There are already around 5,500 CFP® professionals in this country and there are many pathways for those who want to join it. We are committed to working on a one-to-one basis with financial planners to find a tailored solution.”
“It is great to see an increasing number of financial planners strive for the international gold standard in financial planning. The CFP mark remains at the pinnacle of our profession and can be viewed as a sign of trust for consumers. This kind of differentiator is more important than ever for consumers.”
“We have long been advocating for a rise in education standards across the profession. And while it isn’t a silver bullet, we know that higher education and professional standards lead to better consumer outcomes. We also know that financial services firms that hire CFP professionals reduce corporate risk.” said Mr Rantall.
The CFP designation is the only designation for financial planners that is recognised worldwide, requiring financial planners to adhere to higher professional and ethical standards above those proposed by the Federal Government in the Future of Financial Advice (FoFA) legislation.
The summer semester commences on 18 November. For more information about the CFP program, visit www.fpa.com.au/cfp.