AFA education course attracts ‘significant’ interest
The Association of Financial Advisers (AFA) has received an influx of enrolments for its recently-rebuilt education course, which it says shows an acceptance from advisers that standards have been raised.
The masters-level Fellow Chartered Financial Practitioner (FChFP) designation was given a reboot last year in line with market and consumer expectations and took into account perceived shortfalls in advisers' existing practical training, according to AFA chief executive Brad Fox.
"We believe that the education standards debate has to reflect practical advice outcomes. Advice strategy and theory, the technical knowledge, is an important part, but the ability to create advice that deals with the non-technical demands of the client and is effective in helping a client to change their behaviour is also needed," he said.
"While this is difficult to teach in a formal learning framework, completing business projects that demonstrate that the adviser has thought about and planned how to effectively deliver technically proficient advice, in a way that will change a client's financial behaviour, is extremely valuable and appropriate in today's consumer-driven market place."
It currently includes ethics, professionalism and technical components.
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