CFP certification IMPORTANT ANNOUNCEMENT BACHELOR DEGREE REQUIREMENT FOR CFP

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					                                                                         CFP®
                                                                 certification


                IMPORTANT ANNOUNCEMENT
           BACHELOR DEGREE REQUIREMENT FOR CFP
                      CERTIFICATION



EFFECTIVE 1 JANUARY 2007

From 1 January 2007, in addition to satisfying the education, examination, experience
and ethics requirement for CFP certification, a bachelor’s degree will be required in
order to be eligible for CFP certification.

The bachelor’s degree requirement will be waived in the following circumstances:

    •   Individuals who have met all certification requirements prior to 1 January
        2007
    •   Individuals who enrol in the CFP program for the first time before or during
        Semester 1 2005 and meet all certification requirements prior to 31 December
        2007.

Application for CFP certification must be received by the FPA within 30 calendar
days of the respective deadline.

SPECIFIC SITUATIONS

Individuals without a bachelor degree are required to have met the education,
examination and experience requirement by 31 December 2006 (31 December 2007
for individuals who commenced the CFP program before/during Semester 1 2005).
Application for CFP certification must be received by the FPA by 30 January 2007
(30 January 2008).

Individuals without a bachelor degree who have not met the three year experience
requirement by 31 December 2006 (30 December 2007), will be required to have a
bachelor degree.

Individuals without a bachelor degree and eligible for CFP Certification
Assessment are encouraged to enrol in CFP Certification Assessment in semester 1

CERTIFIED FINANCIAL PLANNER ™ and CFP® are marks owned by the Certified Financial Planner Board of
Standards, inc. (USA) and used by the FPA under license.



  FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED                                                1
                                                                         CFP®
                                                                 certification
2006 at the latest, to avoid the pressure of having only one last chance to pass
Certification Assessment.

Individuals without a bachelor degree who enrol in CFP Certification Assessment
for the first time in semester 2 2006 and do not reach the standard, will be required to
have a bachelor degree. (Exception – individuals who commenced the CFP program
before/during Semester 1 2005 who enrol in the CFP Certification Assessment for the
first time in semester 2 2007 and do not reach the standard, will be required to have a
bachelor degree)

Individuals without a bachelor degree, even after 1 January 2007, may complete
the education and examination requirement, but they must then complete a degree
within 5 years after passing Certification Assessment in order to be CFP certified.


The charts on the following pages provide further guidelines on the education and
examination requirement for CFP certification:




CERTIFIED FINANCIAL PLANNER ™ and CFP® are marks owned by the Certified Financial Planner Board of
Standards, inc. (USA) and used by the FPA under license.



  FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED                                                2
INDIVIDUALS WITHOUT A BACHELOR DEGREE

Education pathway                                       Up to 31 December 20061                   Effective 1 January 2007
FPA Diploma of Financial Planning (pre-                 Satisfies education & examination         Semester 1 2007 only
1998)                                                   requirements for CFP certification        6 years practitioner experience
                                                                                                  Entry to CFP program
                                                                                                  CFP program (including Certification
                                                                                                  Assessment) to be completed within 5 years of
                                                                                                  commencement (December 2011)
                                                                                                  From Semester 2 2007
                                                                                                  Bachelor degree in any discipline (within 5
                                                                                                  years of completing CFP program)
FPA Diploma of Financial Planning (post                 Satisfies education & examination         Semester 1 2007 only
1998) PLUS CFP education program                        requirements for CFP certification        6 years practitioner experience
(commenced before July 2003 and completed                                                         Entry to CFP program
by December 2005)                                                                                 CFP program (including Certification
                                                                                                  Assessment) to be completed within 5 years of
                                                                                                  commencement (December 2011)
                                                                                                  From Semester 2 2007
                                                                                                  Bachelor degree in any discipline (within 5
                                                                                                  years of completing CFP program)
FPA Diploma of Financial Planning (post                 Satisfies education requirement for CFP   Bachelor degree in any discipline (within 5
1998) PLUS CFP education program                        certification.                            years of completing CFP certification
(commenced during/after July 2003 and                   Successfully complete CFP certification   assessment)
before June 2005)                                       assessment


1
    Up to 31 December 2007 for individuals who commence CFP program in semester 1 2005




                                                                                                                                              3
Education pathway                               Up to 31 December 20061                  Effective 1 January 2007
Advanced Diploma of Financial Services          Entry to CFP program                     Semester 1 2007 only
(Financial Planning)                                                                     6 years practitioner experience
                                                                                         Entry to CFP program
                                                                                         CFP program (including Certification
                                                                                         Assessment) to be completed with 5 years of
                                                                                         commencement (December 2011)
                                                                                         From Semester 2 2007
                                                                                         Bachelor degree in any discipline for entry to
                                                                                         CFP program

Post-graduate education pathway                 Up to 31 December 2006                   Effective 1 January 2007
(commenced up to and including semester 2
2005)
Master of Commerce (Financial Planning) –
Curtin University
                                                                                         Semester 1 2005
Master of Commerce (Financial Planning) –
                                                                                         CFP Certification Assessment
Deakin University
                                                                                         PLUS
Master of Business Administration (Financial
                                                                                         Bachelor degree in any discipline (within 5
Planning) – Deakin University                   Semester 1 2005 only
                                                                                         years of completing CFP Certification
Master of Financial Planning – Griffith         CFP Certification Assessment
                                                                                         Assessment)
University                                      From Semester 2 2005
                                                                                         Semester 2 2005
Master of Business Administration (Advanced     CFP1 plus CFP Certification Assessment
                                                                                         CFP1 plus CFP Certification Assessment
Financial Planning Specialisation) – Griffith
                                                                                         PLUS
University
                                                                                         Bachelor degree in any discipline (within 5
Master of Business (Financial Planning) –                                                years of completing CFP Certification
RMIT                                                                                     Assessment)
Master of Financial Planning – University of
the Sunshine Coast




                                                                                                                                          4
Post-graduate education pathway                Up to 31 December 2006                   Effective 1 January 2007
(commenced up to and including semester 2
2005)
Master of Commerce (Financial Planning) –                                               Semester 1 2005
University of Western Sydney                                                            CFP Certification Assessment
Graduate Diploma of Applied Finance and                                                 PLUS
Investment – Securities Institute                                                       Bachelor degree in any discipline (within 5
Graduate Diploma in Financial Planning –       Semester 1 2005 only                     years of completing CFP Certification
Securities Institute                           CFP Certification Assessment             Assessment)
Graduate Diploma in Personal Financial         From Semester 2 2005                     Semester 2 2005
Planning – University of Southern Queensland   CFP1 plus CFP Certification Assessment   CFP1 plus CFP Certification Assessment
Graduate Diploma of Financial Planning –                                                PLUS
University of the Sunshine Coast                                                        Bachelor degree in any discipline (within 5
                                                                                        years of completing CFP Certification
                                                                                        Assessment)




                                                                                                                                      5
INDIVIDUALS WITH A BACHELOR DEGREE

Education pathway                            Up to 31 December 2006                    Effective 1 January 2007
FPA Diploma of Financial Planning (pre-      Satisfies education & examination         Satisfies education & examination
1998)                                        requirements for CFP certification        requirements for CFP certification
FPA Diploma of Financial Planning (post      Satisfies education & examination         Satisfies education & examination
1998) PLUS CFP education program             requirements for CFP certification        requirements for CFP certification
(commenced before July 2003 and completed
by December 2005)
FPA Diploma of Financial Planning (post      Satisfies education requirement for CFP   Satisfies education requirement for CFP
1998) PLUS CFP education program             certification                             certification
(commenced during/after July 2003)           Successfully complete CFP certification   Successfully complete CFP certification
                                             assessment                                assessment
Advanced Diploma of Financial Services       Entry to CFP program                      CFP program (including Certification
(Financial Planning)                                                                   Assessment) to be completed with 5 years of
                                                                                       commencement
Advanced Diploma of Financial Services       Satisfies education & examination         Satisfies education & examination
(Financial Planning) plus CFP education      requirements for CFP certification        requirements for CFP certification
program (commenced before July 2003 and
completed by December 2005)
Advanced Diploma of Financial Services       Satisfies education requirement for CFP   Satisfies education requirement for CFP
(Financial Planning) plus CFP education      certification                             certification
program (commenced during/after July 2003)   Successfully complete CFP certification   Successfully complete CFP certification
                                             assessment                                assessment




                                                                                                                                     6
Post-graduate education pathway                 Up to 31 December 2006                   Effective 1 January 2007
(commenced up to and including semester 2
2005)
Master of Commerce (Financial Planning) –
Curtin University
Master of Commerce (Financial Planning) –
Deakin University
Master of Business Administration (Financial
Planning) – Deakin University
Master of Financial Planning – Griffith
University
Master of Business Administration (Advanced
Financial Planning Specialisation) – Griffith
University                                      Semester 1 2005 only                     Semester 1 2005 only
Master of Business (Financial Planning) –       CFP Certification Assessment             CFP Certification Assessment
RMIT                                            From Semester 2 2005                     From Semester 2 2005
Master of Financial Planning – University of    CFP1 plus CFP Certification Assessment   CFP1 plus CFP Certification Assessment
the Sunshine Coast
Master of Commerce (Financial Planning) –
University of Western Sydney
Graduate Diploma of Applied Finance and
Investment – Securities Institute
Graduate Diploma in Financial Planning –
Securities Institute
Graduate Diploma in Personal Financial
Planning – University of Southern Queensland
Graduate Diploma of Financial Planning –
University of the Sunshine Coast




                                                                                                                                  7
Challenge Status                          Up to 31 December 2006                       Effective 1 January 2007
CPA                                       Semester 1 2005 only                         CFP program including Certification
                                          CFP Certification Assessment                 Assessment
                                          From Semester 2 2005                         Subject to evidence of bachelor degree
                                          CFP program including Certification
                                          Assessment

CPA (Financial Planning Specialisation)   Semester 1 2005 only                         CFP1 plus Certification Assessment
                                          CFP Certification Assessment                 Subject to evidence of bachelor degree
                                          From Semester 2 2005
                                          CFP1 plus Certification Assessment
CA                                        Semester 1 2005 only                         CFP program including Certification
                                          CFP Certification Assessment                 Assessment
                                          From Semester 2 2005                         Subject to evidence of bachelor degree
                                          CFP program including Certification
                                          Assessment

CA (Financial Planning Specialisation)    Semester 1 2005 only                         CFP1 plus Certification Assessment
                                          CFP Certification Assessment                 Subject to evidence of bachelor degree
                                          From Semester 2 2005
                                          CFP1 plus Certification Assessment
PNA                                       Semester 1 2005 only                         Candidates awarded PNA on basis of
                                          CFP Certification Assessment                 Diploma/Graduate Certificate accounting
                                          Semester 2 2005                              studies will require a bachelor degree in any
                                          CFP1 plus Certification Assessment           discipline PLUS Advanced Diploma in
                                          Candidates awarded PNA on basis of           Financial Services (Financial Planning) for
                                          Diploma/Graduate Certificate accounting      entry to CFP program including Certification
                                          studies will require a Advanced Diploma in   Assessment
                                          Financial Services (Financial Planning)




                                                                                                                                       8
CFA   Semester 1 2005 only                  CFP program including Certification
      CFP Certification Assessment          Assessment
      From Semester 2 2005                  Subject to evidence of bachelor degree
      CFP program including Certification
      Assessment




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