The Financial Planning Association has sent a questionnaire on proposed Financial Adviser Standards and Ethics Authority (FASEA) standards to its 13,700 members and affiliates.

FASEA provided draft guidance on education standards and the code of ethics for financial planners last month.

“We believe FASEA’s latest proposal does not give sufficient recognition to financial advisers who have completed a degree and undertaken additional studies in financial planning,” association Chairman Neil Kendall said.

“Failure to recognise study completed by existing financial planners is likely to reduce the availability of financial planners and drive up costs for consumers. The active participation of our members in the consultation period is important so they can be heard.”