The Financial Adviser Standards and Ethics Authority has approved a number of education credits and bridging courses to help financial advisers meet its education standards.
Coursework offered by the Certified Investment Management Analyst (CIMA), CFA Societies Australia and Queensland University of Technology have been added to a growing list of FASEA-approved curriculum standards.
Financial advisers who have completed coursework for the CIMA designation in or after 2001 (offered by the Portfolio Construction Forum) have been awarded one credit recognition for prior learning (RPL) to attain professional designation.
Those who have attained the Chartered Financial Analyst (CFA) designation have also been awarded one credit for RPL.
As an example, existing advisers with a relevant degree and completed coursework to attain a CIMA or CFA designation will receive four credits for their relevant degree and credit for their CIMA or CFA coursework. As a result, these advisers will only be required to complete three courses.
The authority approved three bridging courses offered by the Queensland University of Technology for existing advisers to meet the education standards.
Chief executive Stephen Glenfield said the bridging courses build on the body of courses approved by FASEA and provides additional choice to advisers seeking to meet the education standard by 1 January 2024.
As for awarding credits for CIMA and CFA coursework, Glenfield said this provides appropriate recognition to existing advisers who have undertaken these further studies.
Since 2017, FASEA has approved several of courses, including 66 historical courses, 63 current bachelor or higher degrees and 27 bridging courses.