FPSB aims to lift financial planning to 'distinct profession' by 2025
|
|
The Financial Planning Standards Board’s (FPSB’s) goal is to promote higher standards so financial planning is recognised as a distinct profession similar to accounting, law and medicine by 2025, said newly-appointed chairperson Corinna Dieters.
“Although financial planning is gaining prominence as a professional practice globally, many people who call themselves financial planners have little training or oversight,” said Dieters, who assumes her role as FPSB chairperson in April.
“Our goal is to benefit the public by developing rigorous competency, ethics and professional practice standards for the financial planning profession in line with consumer and community expectations. This is evidenced by the efforts of the Financial Planning Association in Australia in its Code of Ethics and Professional Standards for members,” she added.
In 2009, Dieters was chairperson of the FPSB Council, an advisory group representing 23 organisations that administer Certified Financial Planner certification programs in their respective territories around the world, which she led in ratifying global standards for financial planner experience and continuing professional development.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
