FPA gains training group status

THEFinancial Planning Association(FPA) has received accreditation as a Registered Training Organisation (RTO) from the Office of Training and Tertiary Education Victoria.

As an RTO, the FPA will now operate within the national training framework overseen by the Australian National Training Authority (ANTA), providing greater flexibility for financial services students.

The addition of the FPA to the list of RTO accredited institutes, which includesIntegratec, theSecurities Instituteand TAFE colleges, deems students who have begun their studies elsewhere eligible for accreditation as a Certified Financial Planner through the FPA’s educational programs.

“Under the RTO umbrella, qualifications from all the different institutions will be mutually recognised,” FPA education business unit manager Chris McMillan says.

The RTO status also signals a change in FPA learning materials and assessment modes. From the second semester of 2003 a more practical aspect of education will be included in the program.

“The new training package will see us move away from huge assignments and exams, into a more practical and scenario-based teaching model, with students not only learning about, but practising interviewing and communicating with real clients,” McMillan says.

The FPA will now take full responsibility for all assessment-related activities, including the development, marking and monitoring of FPA exams, as opposed to the prior handling of such matters by Deakin Prime, a training group set up by Deakin University.

The changes will affect those entering the FPA’s education program this year, with those completing the FPA diploma of financial planning units (DFP) 1-4 eligible for a new qualification, the Diploma of Financial Services.

Students who commenced the FPA Diploma of Financial Planning prior to 2003 will continue studying towards that qualification, which will be offered until the end of the 2004 academic year.