The Financial Advice Association has revealed further details on its memorandum of understanding (MoU) with FPSB India, a subsidiary of the Financial Planning Standards Board, to promote cross-border mobility and development for aspiring and professional financial planners.
The association announced last week it had signed the MoU to help improve adviser numbers in Australia.
This collaboration between the financial planning industries in India and Australia aims to encourage an easier transition for Certified Financial Planner aspirants and professionals relocating between the countries.
FPSB India and the FAAA will work together to develop educational content and partner with universities to create pathways for aspiring and professional financial planners. A key objective is to enable professionals to meet local regulatory requirements of employment overseas.
Indian CFP professionals will be able to access FAAA-accredited CPD programs while in India so they can complete required coursework for certification or employment in Australia and vice versa.
The collaboration will also support Indian CFP professionals and students in their transition to Australia via networking opportunities with Australian firms, planning practices and superannuation trustees as well as facilitating the creation of professional year placements for Indian professionals.
The MoU was signed between FPSB India CEO Krishan Mishra and FAAA chief executive Sarah Abood in the presence of FPSB chief executive Dante De Gori and FAAA chair David Sharpe at the FPSB’s 20th year celebrations in São Paulo, Brazil.