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Featured Profile
David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson writes.
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).