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Australian dividend distributions rebound in Q3
|Australia saw a significant rebound in dividend distributions in the quarter to September 30, with the recovery attributable to BHP and the broader mining sector.
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|Aequitas Investment Partners has named a head of asset consulting, joining from Vanguard Australia.
RBA delivers another hike in split decision
|The Reserve Bank of Australia delivered its fifth interest rate hike this year, but the monetary board was split in its decision.
Sequoia profits tank as advisers flee
|Sequoia's Q1 revenue dropped close to 60% while also recording a profit loss. Despite this former chief executive Garry Crole took home more than $400k.
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Jacqueline Fernley
CHIEF EXECUTIVE OFFICER
ARC POINT OCIO PTY LTD
ARC POINT OCIO PTY LTD
Jacqueline Fernley is a self-confessed nerd, a market animal and as of this year, her own boss. Riddhima Talwani writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Was anybody else surprised when they found out that the CFP is a designation and not a qualification? Since one has to study quite hard for it I am not sure about the distinction. I also never before heard that the CFP was not a qualification - I may have missed it but I never saw such a disclaimer before and I have been an FPA member for a while. Does anybody have any insights about this?
One pointer to the CFP not being a qualification is that a lot of people were grandfathered into it who only had a diploma of financial planning. It is one reason I only ever did CFP 1 (out of CFP 1-4) (to gain the life risk specialist - I presume - designation and not qualification?).
How is the CFP already at a Masters level?
Masters degrees are at Australian Qualifications Framework Level 9.
Graduate Certificates and Graduate Diplomas are at Australian Qualifications Framework Level 8.
The Certified Financial Planner is not even awarded as a Graduate Certificate. Hence its not even AQF Level 8. If it was why wouldn't the Financial Planning Association have got it formally recognised as a Graduate Certificate?
The Chartered Accountants Program is only 5 subjects and is awarded as a Graduate Diploma. Hence all the talk of designations versus qualifications is rather confusing. It's not clear at all why the Certified Financial Planner can't be awarded as a Graduate Certificate at least. With the certifications its effectively 5 subjects or at least 4 subjects (CFP1-4).