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FPA survey reveals well-educated membership

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More than 3200 Financial Planning Association (FPA) members have responded to a questionnaire on the most recent Financial Adviser Standards and Ethics Authority (FASEA) industry education proposals.

The results indicate about 60% of FPA members have a degree, compared with 35% across the industry.

The FPA has again raised concerns about FASEA’s lack of recognition for the FPA’s Certified Financial Planner designation and advanced diplomas.

The Certified Financial Planner designation is the FPA’s highest educational standard, recognised in 26 countries worldwide.

The FPA is concerned the FASEA proposals are “over-engineered” and will reduce access to financial advice and increase costs.

It will discuss the proposals during its national roadshow, which began last week.