RESTRICTION OF THE TERM FINANCIAL ADVISER, FINANCIAL PLANNER OR ANY LIKE TERM

From 1 January 2019 there will be new restrictions on who can use the term financial adviser, financial planner or any similar term, as part of the new professional and ethical standards regime under the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017.

Only individuals who are licensed to provide personal advice to retail clients on relevant financial products will be eligible to use such terms, including the use and promotion of the CPA Australia Financial Planning Specialisation – CPA (FPS).

If you have any questions, contact finplan@cpaaustralia.com.au

The CPA brand is an established sign of excellence. Members of CPA Australia are recognised as leaders in business, finance and accounting advice.

The CPA Australia Financial Planning Specialisation (FPS) builds on this expertise and professionalism, and specifically recognises members who specialise in financial planning with a high level of experience and knowledge in the financial services industry.

The criteria to apply for the FPS strongly focus on education and experience.

Recognised financial planning qualification > Recognised taxation studies > Three years approved financial planning experience > CPA Australia Financial Planning Specialisation

Qualifications

CPA Australia members are required to complete a degree or postgraduate qualification majoring in financial planning to attain the FPS. The FPA CFP Education Program is also recognised as meeting this requirement.

In addition, members will be required to complete specific education in tax, either through their qualification or through completion of the Taxation or Advanced Taxation segments of the CPA Program professional level. Members who are registered tax agents are exempt from this requirement.

Experience 

Members must have a minimum of three years' experience in financial planning in the immediate past five years. This must include experience in:

  • the personal financial planning process
  • personal income tax planning
  • risk management planning
  • investment planning.

More information

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