FAAA Expands Specialisation Program to Elevate Financial Advice Standards
FAAA Expands Specialisation Program to Elevate Financial Advice Standards
0
The Financial Advice Association of Australia (FAAA) is expanding its approved specialisations program, which currently includes areas such as aged care, life risk, and the Fellow Chartered Financial Practitioner (FChFP).
The organisation is now seeking applications from education and designation providers to broaden the program's scope.
New areas of interest include estate planning, retirement, money therapy, self-managed superannuation funds (SMSF), and responsible investing, though additional relevant specialisations are also welcome.
This initiative is driven by rising consumer demand for advisors with expert knowledge in specific financial sectors, according to Anne Palmer, FAAA's general manager of education. "We want to support advisers in their ongoing learning and development and help them stay in the profession they’ve worked hard to be part of," Palmer explained. She highlighted that many licensees require advisors to pursue further education to specialise in fields like aged care or SMSF.
FAAA-endorsed specialisations ensure that the educational content meets a high standard and that advisers continue professional development, with a minimum of five hours annually dedicated to staying current in their specialty. Palmer noted that expanding the program would help advisors "distinguish themselves professionally" and collaborate with top-tier educational providers to "raise the standard of advice across the industry."
The initiative aims to make the pathway to high-quality specialist education clearer and more rewarding for advisors, ultimately benefiting consumers seeking expert financial advice. This effort to certify and elevate specialised knowledge both recognises and promotes the value of continuous professional development in the financial advice sector.
As the program broadens, the focus will be on ensuring that financial advisors receive the necessary support to stay informed and proficient in their respective areas. This commitment to education and excellence signals a positive shift in the industry towards enhanced professionalism and client trust.
Published:Monday, 11th Aug 2025 Source: Paige Estritori
In a recent financial disclosure, Bell Financial Group (BFG) announced a notable 44% drop in half-year net profit after tax as it navigates challenging market conditions. While the company's overall revenue declined by 12.5% to $121.5 million, its Technology & Platforms and Products & Services units showed resilience with a combined revenue increase of 12% to $46.3 million. This contrasts sharply with the 23.5% revenue dip in its broking division, which totalled $69.4 million. - read more
The evolving landscape of private credit funds in Australia necessitates greater responsibility from self-directed investors, according to Darren Connolly, the Chief Executive of Investment Markets. As the landscape of fixed income investments becomes increasingly complex, investors are being urged to take ownership of their decision-making processes. - read more
The Reserve Bank of Australia (RBA) recently made a pivotal decision to cut the official cash rate (OCR) by 0.25%, bringing it down to 3.60%. This move marks a total reduction of 0.75% from its peak of 4.35%. Economists and financial markets anticipate further cuts, potentially two more by mid-2026, reflecting a cautious easing policy by the RBA. - read more
As financial planners await forthcoming updates to the Delivering Better Financial Outcomes (DBFO) legislation, many are grappling with significant challenges arising from the first tranche, specifically concerning fee consent requirements. These issues, unfortunately, seem to require legislative amendments as they fall outside the scope of regulatory fixes, amplifying the compliance burden on financial advisers, especially regarding breach reporting. - read more
If you've just joined the ranks of motorbike owners, you're in for an unforgettable adventure. Owning a motorbike isn't just about getting from point A to B; it's about the thrill of the ride, the open road, and the freedom that only two wheels can offer. - read more
Dreaming of hitting the open road on a brand-new motorcycle? Financing your motorcycle in Australia comes with several options to suit different needs and budgets. With the right loan, you can make your dream bike more accessible. However, choosing the right loan is crucial to ensure it aligns with your financial situation. - read more
Whether you're a first-time buyer or a seasoned rider looking for a new addition, owning a motorbike is all about embracing freedom and adventure. There’s nothing quite like the rush of planning your next long ride through Australia’s stunning landscapes. - read more
Buying a bike can be an exciting journey, but navigating the financial aspect can sometimes feel overwhelming. This is where prequalifying for a bike loan can make all the difference. But what exactly does prequalifying mean? - read more
Knowledgebase
Lien: A legal claim against a property that must be paid off when the property is sold.
