Members of the Financial Planning Standards Board from 24 countries will gather in Sydney later this month to develop a strategy to boost professionalism in financial planning and increase awareness of the Certified Financial Planner designation. The group will also release new global research highlighting the tangible benefits of being a CFP.
The Financial Planning Association of Australia, which is a member of the FPSB, will host the event. A recent survey conducted by FPA Australia showed CFPs generated on average $40,000 more than financial advisers who do not hold the designation. Furthermore, 80 per cent of dealer groups said CFPs posed a lower compliance risk.
FPA Australia chief executive, Mark Rantall, said he expected the latest global research to reflect the Australian experience.
“Our research shows that CFPs are the most sought-after of all advisers by consumers in Australia and we expect to see that reflected in the global survey,” he said.
In the last year, FPA Australia has strengthened its relationship with the 17 universities around the country that make up its Education Council and set the curriculum for their financial planning courses.
FPSB, which owns the international Certified Financial Planner certification, will hold its global meeting on October 23–25.
Rantall will participate in a panel discussion on leadership at the FPA Congress in Sydney on October 17–18. He will share the stage with Peter Kell, deputy chair of ASIC; AMP director Steve Helmich; financial planner Barry Horner and Noel Maye, chief executive of the FPSB.
Professional Planner will publish an official FPA daily newsletter and will be providing coverage of the congress.
