The National Finance Industry Training Advisory Body (NFITAB) has developed new guidelines to boost the number of financial planning training providers. Deen Sanders, an industry consultant with the NFITAB, said the new guidelines “should increase the amount of competition in the market”.

The guidelines follow a recent study by NFITAB and the Australian National Training Authority aimed at developing new competency standards for training providers. NIFTAB has also been in consultation with the industry and peak bodies like the Financial Planning Association in putting together the guidelines.

NFITAB CEO Catherine Chaffey said building competency standards “creates a much-needed entry-level pathway for those wishing to enter the [financial planning and accounting] industry”.