More than 500 students are studying for an undergraduate degree aligned with the Financial Planning Association’s (FPA) Certified Financial Planner program.

The FPA started working with universities in April last year through its Financial Planning Education Council to develop training standards.

The council has produced the first model financial planning curriculum framework that is being sent to all universities for consultation.

Advisers wanting to be FPA members from July 1 2013 will have to hold an approved degree before being accepted as an Associate Financial Planner.

FPA CEO Mark Rantall told the association’s annual conference in Brisbane last week that higher education standards are a “critical step in lifting the bar” for the industry.

“I urge members and our professional partners to continue to support the education council, which relies on funding from the industry, in its efforts to raise educational standards.”