FASEA opens foreign qualifications process

23 May 2019by Mike Taylor
2 Comments

The Financial Services Council is arguing for more industry self-regulation, describing Trowbridge as the “gold standard”.

The Financial Adviser Standards and Ethics Authority (FASEA) has opened the process for financial planners with foreign qualifications to have them approved.

The authority said it had released its online Foreign Qualifications Assessment Service form intended to enable people with qualifications obtained outside of Australia to apply for FASEA approval.

FASEA chief executive, Stephen Glenfield said the opening of the Foreign Qualifications Assessment Service would enable persons holding international qualifications to obtain approval of their qualifications and to confirm any further education they must undertake to continue in the industry after 1 January, 2024.

The FASEA announcement said that when applying to FASEA, a person would need to provide an assessment of the qualification by a Department of Education and Training approved body as well as a certified copy of an academic transcript of the qualifications.

“FASEA will assess the foreign qualification for equivalence to degrees or qualifications already approved by FASEA,” it said. “FASEA may specify courses for the new entrant or existing adviser to complete in addition to their foreign qualification.”

“As FASEA approves Foreign Qualifications they will be added to FASEA’s Foreign Qualification Precedent Database.”

Author

Mike Taylor

Mike Taylor is Managing Editor of the financial services publications Money Management and Super Review. He has been a journalist for the past 41 years with a career spanning coverage of financial services, federal and state politics and industrial relations.

Comments

Permalink Submitted by Dark on Thu, 2019-05-23 11:13

Well done, you have a form ready.

Permalink Submitted by Anon on Thu, 2019-05-23 12:04

So. They dont recoginse CFP (which is recognised world wide) and dont recognise years of experience however will allow people who have studies financial planning overses where there are an entirely different set of rules to have their degrees recognised.

I will not be watsting my time doing this rubbish as i will learn nothing relevant to my job from it.

And as anyone in ANY INDUSTRY will tell you. 3 years of job trining and experience and applying your knowledge in real situations is 10 times more valuable than 3 years at university.

Whilst i realise that the bar has been way way way way too low to give financial advice, not recognising prior experience is a total cash grab by the universities.

Dont worry though. Once they release the list of universities just go to one of the approved course providers in India and buy your degree.