Has FASEA omitted a key piece of info?

New institutions may struggle to form their own learning and graduate outcomes seeing as the Financial Adviser Standards and Ethics Authority (FASEA) has seemingly omitted their Graduate Outcome Statement from their Program and Provider Accreditation Policy, according to Deakin professor, Adrian Raftery.

While Raftery said well established universities such as Deakin may not struggle as much with the lack of guidance, they’re still at risk of potentially missing some key outcomes that FASEA may require but have failed to divulge.

What advisers should have received, Raftery says, is something similar to the Financial Planning Education Council’s learning and graduate outcomes, which are expressed across 18 pages in their 2017 Curriculum and Accreditation Framework.

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He said outcome statements are intended to be extremely detailed so students know exactly what they will be able to achieve upon completion of a course, and they’re written according to industry standards.

When put into a search engine, the only FASEA-related ‘Graduate Outcome Statement’ result was that mentioned on page four of the regulator’s FPS002 Program and Provider Accreditation Policy by name only, and in a submission to FASEA by the Association of Financial Advisers (AFA).

The AFA’s Phil Anderson said while the world wouldn’t stop spinning, if FASEA is asking institutions to comply with AQF standards, their 11 core knowledge areas and their graduate outcome statements, they need to make those outcomes public.

“It refers to something we haven’t seen, but people applying for accreditation may need to take into account,” he said.

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Seems to me FASEA could be accused of being unprofessional and inept. I pity any graduate waiting in the centrelink lines unable to get a financial planning job.

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