The Financial Planning Association of Australia The Financial Planning Association of Australia

FPA confirms majority of its members are degree qualified

With over 3,200 members responding so far, results from the Financial Planning Association of Australia (FPA) member questionnaire on the recent Financial Adviser Standards and Ethics Authority (FASEA) announcements show the high level of financial planner interest in this topic, and indicate the majority of FPA members are degree qualified.

The results give an early indication that around 60 per cent of FPA members have a degree, compared to only 35 per cent across the whole industry, as highlighted at the second round of hearings of the Royal Commission. 

Commenting on the questionnaire, Dante De Gori CFP®, CEO of the FPA, said: “We are delighted with the response so far but strongly encourage FPA members who haven’t completed the questionnaire to participate before it closes at midnight today.

“The questionnaire results coming in highlight our members’ commitment to voluntary self-education, and demonstrate the merits of belonging to an association that fosters and promotes higher educational standards.

“In fact, for over ten years now a bachelor’s degree, or its equivalent, has been a requirement for the CERTIFIED FINANCIAL PLANNER® or CFP® designation.

“Following on from the member feedback, we are once again raising concerns about the lack of recognition for financial planners that have a degree and have undergone significant training in financial planning through the CFP® Certification Program.

“We will be advocating for the study completed by these members to be recognised by FASEA,” said Mr De Gori.

The FPA begins its National Roadshow in South East Melbourne today and will be discussing the FASEA proposals and other important topics that will affect the financial planning profession in the coming year.