FASEA seeks consultation on approved degrees and courses

The Financial Adviser Standards and Ethics Authority (FASEA) has released draft amendments for consultation on the education legislative instrument. 

“Since September 2020, FASEA has approved five current degrees, four bridging courses and one historic degree as recognition of prior learning,” FASEA said. 

“In announcing those approvals, FASEA noted they would be added to a future education legislative instrument in due course. 

“To facilitate incorporation of approvals into the legislative instrument, FASEA has today released for consultation draft amendments to the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2020. 
“Further, the draft amendment includes adjustments to some historical course/degree details provided to FASEA by higher education providers post registration of the 2020 determination.” 

All feedback and submissions on the draft amendments to the education legislative instrument may be submitted to FASEA by 30 July, 2021. 

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Too little too late....I have over 30 years experience and have a commerce degree from Uni of Melbourne, majoring in Accounting, Commercial Law and Economics (amittedly some decades ago), am a Certified Practising Accountant and was a registered tax agent for many years. Have only ever had ONE client complaint, passed my ethics exam first go - but farcical FASEA want me to go back to school!! Yet another regulatory body that has no idea of reality or what's happening on the ground. Already have my exit plan in place....

Ditto. Should have consulted years ago. The circus continues without a ring master. Complete shamozzle

Colin, are you seriously suggesting your qualifications should approved by FASEA? I think you are being selfish here. Think about all of the universities that could benefit by sending you and your compatriots off to do further studies. Did you expect the FASEA board members to ignore this opportunity to inject funds into their own workplaces? Gee, what next? Are you going to suggest FASEA implements a workable code of ethics like other professions, that allows us to operate with confidence?

hi, colin,

looks like you did one degree in 1974, which was like eons ago. for example, Netflix, Google, Facebook, the internet, weren't invented back in the day. did you have a wax seal for envelopes, I ask cuz I am interested in getting one for my letters as they are so stylish. some things should not go out of fashion.

even "Back to the future", was not released until much much later, like 1985. I watched it fondly as a kid.

suffice it to say, you need to go back to school.

p.s. looks like you were also a grandfathered CPA which is basically that you joined the precedent body to Cpa Australia formerly known as the Australian society of practicing accountants and presto you were given the title CPA (which in today's world does not mean much) it's STILL a non-AQF rated designation only.

so, Colin, we have all moved on from 1974, and in fact even from 1985. and accountants or former accountants are no longer the trusted advisers.

Welcome to 2021 Colin. nice to e-meet you. :-).

m.fin plan, cfp, fasea passed adviser and millenial.

so thank you, but no thank you. and all the best with your studies Colin.

p.s. it's really funny to watch old people who cannot touch type. do you two-finger type colin and call a photocopy, photostat. haha

So will you be happy anonymous when in 10-15 years, you are also told your degrees are too old and you have to go back to spend 3-4 years to update them?

Another nobody keyboard troll too gutless to put his name down. I am betting Colin with his decades of experience is more successful than someone with zero personal character as you will ever be. Likewise, regardless how contemporaneous your piece of paper hanging on the wall of your employer's office is, it is exceptionally obviously it will never make up for your stark lack of intelligence, empathy or professionalism.

His message clearly shows his entitled, self-involved, pathetically inept small view of the world and why he will always be an anonymous under-achieving nobody who either won't last in the profession and become a used car salesman, or else stick with it working for someone else for decades and hating the work and himself and the world in time.

Good on you Colin, frankly despite being quite younger than you, I am impressed at your professional acumen and longevity in the related financial fields, well done. Hopefully you'll see a reprieve so gutless, brainless twats like 'anonymous' here aren't all that is left for clients to be forced to see.

Oh and anonymous, happy for you to reply and give you my come back (even if I have to scrape it from your mother's teeth first).

Barney - well said.

it hurts to lose. and you are a loser. that's why it hurts you so much.

but don't worry, you will get a third try. the government isn't closing the loop yet. they are giving you another chance, a 3rd time to pass.

Ahhh, is this the same little whingey b*tch anonymous who had a go at Colin? I see you're all alone on here, must be used to that in your personal life, huh?

Oh and your attempt at a reply, goodness, let me get this straight; I decimate your character, accurately predict the miserable employed life waiting in the future for you, essentially highlight your lack of intelligence & professionalism and to top it off, throw into question your mother's sexual veracity, promiscuity and arduous proclivity of an oral inclination & the best you've got is the school-yard taunt of 'loser'?

Millennial? I'm writing to a pimply 12 year old!

So tell me, what do you really want to be when you grow up? :)

Hahaha, hilarious! Wow 'anonymous' you have been smacked down well & truly. Colin, hopefully this shows that the majority don't share anonymous' view and you have support from other professionals.

I have been quite bemused by our young Anonymous...and have refrained from engaging for one reason: Never argue with a fool as they will only take you down to their level and then beat you with experience...

I bet you Netflix, Google, Facebook, and m.fin.plan all become dated and redundant long before the core principles of Colin's 1974 degree.

Great that FASEA has requested feedback from advisors. Only problem is that there is no forum established that I can see to provide this feedback without submitting qualifications and paying either $110 or $220 to FASEA for the privilege. So all very well asking for feedback, but then incumbent on them to provide an avenue to do so.

why do our comments not show?

Heart breaking Peter isn't it? I wonder if the medical industry would be treated with the same humiliating and degrading practices as Financial Planners. For every one bad doctor there are thousands that are honourable, just like the financial planning industry. I have said many times that you have to love what you do to be responsible for peoples health or their finances (it is not for the faint of heart) but to then be treating this way beggars belief. I would like to know who is in charge? How did this happen? The royal commission was meant to help the industry by clearing up the conflicts of interest between product providers and professional advisors? It is exactly what is needed in the medical field also. Pharmaceutical companies must remove all conflicts with doctors. It is not that difficult I would have thought and the most soul destroying part is that Australians are missing out both in their health advice and financial advice. Time for change I say.

Yes, one can only laugh....however clients cry. I have a masters degree, Dip FP, CFP , SSA , FASEA, 30 years in the industry advising clients and run a team of 15 planners and paraplanners but not qualified??

Hey Peter, I have a degree in biology, chemistry and physics, I have a certificate in advanced veterinary skills and I’m a registered taxidermist and I’ve worked in a vet lab for 30 years. Why won’t they just let me be a GP?
Also FASEA doesn’t benefit in any way from people undertaking university courses and not sure what conspiracy theory leads you to believe that’s the purpose of FASEA.
Most FA’s did what was required without complaining and the public will benefit from the professionalism brought to an indisputably unprofessional industry. Sure some FA’s did not need to do the additional education etc however that’s life right. We all have to do such things from time to time.

I have been quite bemused by our young Anonymous....and have refrained from replying for one simple reason:
Never argue with a fool as they will only drag you down to their level and beat you with experience....

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