Designation dispute draws in IntegraTec
Theincreasingly bitter dispute between the Financial Planning Association (FPA) and the Association of Financial Advisers (AFA) over financial planning designations has threatened to rope in financial services training and education provider, IntegraTec.
The FPA, which has threatened legal action over the AFA’s attempt to name its newly proposed designation the Chartered Financial Planner (ChFP), has sent a letter to IntegraTec warning against any use of the ChFP mark.
The FPA, which is concerned the ChFP designation clashes with its own Certified Financial Planner (CFP) mark, had been under the impression that IntegraTec would adopt or promote the ChFP.
But IntegraTec general manager John Prowse says the group’s only involvement with the ChFP mark was to advise the AFA on what education requirements should sit behind the new designation.
“[The AFA] is examining what education requirements should back-up their designation and we have given them our opinion. In fact, we suggested they don’t produce any proprietary education materials, but rather take into account existing courses on the training register.”
Chief executive of the FPA Ken Breakspear says the association does not have an issue with IntegraTec courses being used as prerequisites for an AFA designation.
He says the FPA misunderstood IntegraTec’s involvement with the AFA, but says the FPA would continue to do everything in its power to “protect the CFP” mark.
The FPA is already in the process of challenging the ChFP name with the trademark registration body, IP Australia. But Breakspear says the FPA is also prepared to take common law legal action against the AFA if needs be.
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