FPA welcomes standards legislation but says some elements ‘not workable’
The Financial Planning Association of Australia (FPA) has welcomed the Government’s move to enshrine higher educational and professional standards for financial planners in legislation, but has cautioned some elements are “not workable” Minister for Small Business and Assistant Treasurer, the Hon Kelly O’Dwyer has released the draft legislation, which is a response to the Government’s Financial Services Inquiry, as part of a round of public consultation before it is considered by Parliament. Under the proposed changes new financial planners will require a degree, undertake a professional year, pass an exam and together with existing financial planners they will be required