The Minister for Financial Services and Regulation, Joe Hockey, today unveiled a new accreditation program which will help raise standards in the Australian financial services industry.
The Certified Financial Planner Professional Education Program, introduced by the Financial Planning Association of Australia, will provide a direct professional route in Australia to the internationally recognised title of Certified Financial Planner (CFP).
"I am delighted to see the industry taking steps to boost standards. The FPA has established an important benchmark for high-quality financial planning in Australia, by adopting the CFP designation, and establishing this new program," the Minister said.
"The financial planning industry is one of the fastest-growing industries worldwide, reflecting the desire of people to become financially self sufficient.
"It is extremely important that consumers can be confident about the professionalism and quality of financial planning advice provided, and this new CFP program will make an important contribution to that goal," the Minister said.
"This program will help consumers make informed choices when deciding about financial services products. It is another step towards greater consumer sovereignty."
The new program will be available by distance education through the University of Western Sydney Hawkesbury.