WSU helps graduates meet FASEA changes
Western Sydney University (WSU) has become the first institution in Australia to provide a fully accredited Graduate Diploma in financial planning, ensuring graduates would meet the new Government requirements set up by the Financial Adviser Standards and Ethics Authority (FASEA).
The diploma is off the back of legislation passed in early 2017, which required new financial advisers to have a degree by 2019 and existing financial advisers to get these qualifications by 2024.
Associate professor of WSU School of Business, Sharon Taylor, said while the University welcomed the Government changes, it understands the difficulty for current workers to drop their careers and return to study to meet these requirements.
She said the Graduate Diploma would help graduates “get the qualifications they need, without having to pause their careers.”
The Graduate Diploma features a ‘challenge exam’, which allowed people with existing knowledge and experience to accelerate the course by sitting challenge assessments on a quarterly basis without having to complete a full unit of work.
Students could apply for up to four of these exams, and academic credit from previous study could also be recognised.
“This course ensures graduates meet legislative requirements, it also aids in continuing professional development,” said Taylor. “We believe it’s time to start now, and if students take advantage of our ‘challenge exam’ format, they could gradate with the Graduate Diploma within one year.”
AUTHOR
Anastasia Santoreneos
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
