Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

DFP to remain qualification of choice

financial-planning/Mentor-Education-Group/education/professionalisation/mark-sinclair/

10 September 2018
| By Oksana Patron |
image
image image
expand image

Although the Diploma of Financial Planning (DFP) will no longer be the minimum requirement for financial planners in 2019, it will continue to be the qualification of choice for those beginning their career as an associate adviser, paraplanner, client relationship manager and other non-advice roles, according to Mentor Education Group.

Also, the qualification would continue to be essential for paraplanners and those looking for a pathway for a financial adviser career.

Mentor Education Group’s founder, Mark Sinclair, said the reality is that post 2024 would be the era of compliance and entry level qualifications and ongoing professional development, and study would not be restricted to and the exclusive obligation of the adviser/principal alone.

“The DFP and Advanced Diploma of Financial Planning have both served the industry well (and will continue to do so), having evolved since inception to meet the needs of advisers, stakeholders and regulators,” he said.

“Although the financial services sector is about to enter a new and very different era of compliance and professionalism, the Diploma and Advanced Diploma will still be needed and have very important roles to play.”

Sinclair also said that despite that many cynics would question the DFP for operational staff as overreach, expensive and inconvenient, in reality it represented a prime opportunity to expand the knowledge base and appreciation of staff to the demands of advice delivery with both the individual.

“The age of compliance will require the entire advisory practice to be on the same page as the authorised adviser in order to operate efficiently and effectively,” he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

3 days 10 hours ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

4 weeks ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

6 days 4 hours ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

2 weeks 1 day ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

1 week 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND