An undergraduate degree covering accounting, taxation and financial advising will be offered by the University of Western Sydney (UWS) next year. The degree will add an entry point to the Financial Planning Association’s (FPA) Certified Financial Planner (CFP) course, which will require degree qualifications for admission from January 1, 2007.
Currently the FPA recognises around 15 degree courses offered across Australia. The UWS Bachelor of Financial Advising will add to the list.
UWS School of Accounting senior lecturer Sharon Taylor said to be truly recognised as a profession, the financial planning industry would need to be underpinned by university qualifications.
“If you go to a doctor, you’re not looking for a diploma in medicine, you’re looking for an undergraduate degree, likewise in law, likewise in accounting. I believe in financial advising you’ll need exactly the same thing,” she said.
Taylor said the course had been developed in consultation with various industry groups and by choosing the suggested electives, graduates would be accepted as members by CPA Australia, the Institute of Chartered Accountants in Australia, the Tax Agents Board and the FPA.
Graduates would also meet PS 146 compliance requirements for a financial adviser, Taylor said.
