The Financial Planning Association (FPA) is urging advisers not to abandon its highest professional qualification in light of new education standards.

The Financial Adviser Standards and Ethics Authority has recognised the FPA’s Certified Financial Planner (CFP) program as prior learning, granting it two credits towards its new industry education standard. But CFP advisers must still complete extra study and take a compulsory exam to comply.

The CFP designation is recognised in 26 countries. FPA CEO Dante De Gori says its value cannot be understated when consumer trust in financial advice is so bruised.

“The significant reform ahead of us will create a profession-wide commitment to higher standards,” he said. “In the years ahead, those financial planners with the CFP designation will continue to be recognised worldwide for adhering to world-class professional and ethical standards.”

He says the CFP designation has never been more relevant and sets holders apart from other advisers.