Kaplan Financial Adviser Education

The Advice Exchange Advice and Support Retreat 2013:Financial Adviser Education Prepared by Morgan Popely Brian Knight CEO, Kaplan Professional...  CP212 and Raising the minimum educati

The Advice Exchange Advice and Support Retreat 2013:

Financial Adviser Education

Prepared by Morgan Popely

Brian Knight CEO, Kaplan Professional

 CP212 and Raising the minimum education Standards

 Providing advice on SMSFs

 Tax Agent Services Act (TASA)

 Industry Education Trends

 Education Pathways and Developments

 Questions

Raising the minimum standards of Education

 CP212 looks to lift the minimum education standards for Financial Advisers

 This would implement 3 education regimes

 Regime A (current) education standard for Financial Advisers is AQF 5 (Diploma Level)

 Regime B (2015) would lift the minimum standard to AQF 6 (Advanced Diploma Level)

 Regime C (2019) lifts the standards one more time to AQF 7 (Bachelor Degree Level)

 Harder than an undergraduate degree – as a typical 3/4 year Degree not all done at AQF level 7

 Kaplan’s view that Financial Planning standards should mirror this progression

Provide advice on SMSFs

 Accreditation to provide advice in SMSFs requires 3 steps

Provide advice on SMSFs



The exam consist of multiple choice questions



Online: 56 CPD points

Advanced SMSF

 This industry-recognised program builds on participants’ existing SMSF

knowledge to safeguard clients from complex taxation and estate planning risks and develop complex investment strategies.

 Course delivery - Face-to-face full day interactive workshop with

comprehensive study manual provided prior to workshop.

 Structure - 1 Taxation Issues 2 Estate Planning 3 Investment Objectives and Strategies



 Duration - 1 day face-to-face workshop 9:00am - 5:00pm Pre-reading

required suggested study: 40 hours

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 Industry recognition - FPA 10 5 CPD points, SPAA 33CPD points

Tax Agents Services Act (TASA)

 From 1 July 2014, there will be a notification period of 18 months that will allow Australian financial services licensees and authorised

representatives who provide tax financial advice services to notify the Tax Practitioners Board to become registered as a tax financial adviser

 From January 2014 Kaplan will launch specific programs to meet

educational and CPD requirements for Registered Tax Financial Advisers – Tax and Commercial Law modules

Industry Education Trends

Planning students about motivating

factors of study the results are

interesting

Industry Education Trends

Gender

Industry Education Trends

Age

Industry Education Trends

Current employment situation

Industry Education Trends

Previous highest education level achieved

Industry Education Trends

Kaplan program currently studying

Industry Education Trends

Reasons for study

Industry Education Trends

Who influenced decision to Study with Kaplan

Industry Education Trends

The Stats

 Increasing trend in Female Financial Planning students

 Majority of students currently under fulltime employment

 Students tend to come from a Bachelor qualified background

 Increasing trend of Diploma qualified students continuing with an

Advanced Diploma in Financial Planning

 The top 2 reasons for study with Kaplan are career prospects and

industry requirements

 The number 1 influencer to study with Kaplan are employers

Education Pathways & Developments

the Campus AFA programs and accreditations

AFA accreditation and on to Masters

Designed as a mini MBA for Financial Advisers

your individual business:

Education Pathways & Developments

Education Pathways & Developments

Associate Chartered Financial Practitioner (AChFP);

Financial Services (Financial Planning)

or ChLP designations

Education Pathways & Developments

Fellow Chartered Financial Practitioner (FChCP) & Chartered Life Practitioner (ChLP);

Diploma of Financial Services (Financial Planning) AND Three years experience as a practising adviser

Strategy / AFA 3 Advance Advice Solutions or AFA 3 Advanced Risk Solutions / AFA

4 Professional Conduct & Governance for Financial Advisers

Kaplan’s Masters of Financial Planning

Education Pathways & Developments

The Full Picture

© 2013 Kaplan Education Pty Ltd ACN 089 002 371 trading as Kaplan Professional Education All rights reserved This publication contains information in summary form which is current at the time of publication and is therefore intended for general guidance only It is not intended to be a substitute for detailed research or the exercise of professional judgment This publication must not be used, disclosed or distributed in any way without Kaplan Professional Education’s prior written consent Kaplan Education Pty Ltd disclaims all responsibility and liability (including, without limitation, for any direct or indirect or consequential costs, loss or damage or loss of profits) arising from anything done or omitted to be done by any party in reliance, whether wholly or partially, on any information provided in this publication Any party that relies on that information does so at its own risk For more information about us please visit www.kaplanprofessional.edu.au