YOUR GUIDE TO THE CFP CERTIFICATION PROGRAM

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1 YOUR GUIDE TO THE CFP CERTIFICATION PROGRAM

2 The CERTIFIED FINANCIAL PLANNER designation is the highest designation for financial planners globally. As a CFP professional, you join a growing community of over 5,600 CFP professionals in Australia and 170,000 globally. Your commitment to a world-class professional code and best practice financial planning places you at the forefront of a growing profession. The Financial Planning Association (FPA) is the premium professional association for financial planners in Australia and the only association licensed to deliver and administer the CFP designation.

3 ABOUT THE CFP DESIGNATION The CFP mark represents a symbol of trust and mark of excellence. To your clients, it will provide reassurance that you work to the highest professional and ethical standards. Always putting their interests first. BE RECOGNISED AS A BEST OF BREED FINANCIAL PLANNER The FPA invests heavily in promoting the value of financial advice from a CFP professional. As more and more Australians know where to look for high quality advice, your designation will become your platform for a sustainable financial planning career. FUTURE-PROOF YOUR ADVICE The FPA Code of Professional Practice represents a world-class professional framework and standards that go far higher than those set by regulators. By default, adherance to our Code provides you with the ability to self-regulate and de-risk your advice. The CFP designation is well regarded by consumers and a great way to show them that I am serious about being a professional financial adviser. SHAPE THE FUTURE OF YOUR PROFESSION The FPA is a respected voice with Government and other key stakeholders. As a CFP practitioner member, you will have voting rights and countless channels whereby you can help us shape the future of your profession. This is your time to shine. SECURE YOUR PROFESSIONAL DIVIDEND Your CFP designation will literally open doors. Statistics show that CFP professionals earn $65,000 per annum more than other financial planners.* And if you decide to work abroad, your designation goes with you. CFP certification is recognised in 26 countries. Karina Capri AFP HOW TO APPLY PRE-ADMISSION The best way for us to learn about your personal circumstances and get you on the right path, is to complete the pre-admission application. Through this service, you ll find out more about your personalised pathway. Once successful, your place in the program is guaranteed. To get started, visit TALK TO US If you d prefer to start by asking us more questions about the CFP Certification Program, we d be delighted to help. Simply contact us on or us at education@fpa.com.au. * Source: fpa.com.au/2015-member-satisfaction-survey-result

4 ABOUT THE CFP CERTIFICATION PROGRAM A MODERN DAY PROGRAM FOR FINANCIAL PLANNING The CFP Certification Program is unlike any other. Each and every unit has been designed by some of Australia s most respected and experienced financial planners and academics. The content has been developed and is regularly updated, to ensure it remains relevant to current financial planning practice and the ever changing world of legislation. It will also empower you with modern and thought-provoking strategies to help you deliver leading edge advice to your clients. During the program, you ll be assessed on your competencies, knowledge and capabilities as a professional. The successful completion of the program demonstrates that you have met technical competency and exceptional standards across the Four Es set by the international Financial Planning Standards Board (FPSB) Ethics, Education, Examination and Experience. PROGRAM STRUCTURE The CFP Certification Program is split across five units. Each unit is designed to advance your existing knowledge and expertise, and ensure you meet the standards of excellence required for the designation. CFP 1: FPA PROFESSIONALISM Students are usually in full-time employment and are busy with personal commitments, therefore we structure the program in a way that provides flexibility and freedom. The annual program intake includes two semesters and a summer semester. We recommend enrolling into one unit per semester, so that you can manage your study time around your existing commitments. Typically, the program takes 2-3 years to complete. CFP 2: APPLIED STRATEGIES 1 CFP 3: APPLIED STRATEGIES 2 CFP 1 - CFP 4 require approximately 10 hours of study per week. The CFP C unit will require a minimum of 10 hours of study per week. Compulsory units Advanced standing can apply CFP 4: INVESTMENT STRATEGIES CFP C: CERTIFICATION ENTRY REQUIREMENTS In order to enrol onto the CFP Certification Program you must have 12 months minimum relevant industry experience or have completed an FPA approved degree. We do understand that each student s pathway is different and you may not fit into the road map. To discuss your individual circumstances, contact us at education@fpa.com.au.

5 ADVANCED STANDING Recognition of prior learning for CFP 2-4 Academic Credits may be available for CFP 2, CFP 3 and CFP 4 or a combination. If you are a member of CPA Australia/Institute of Chartered Accountants in Australia and you have completed their professional financial planning specialisation education requirement and hold the designation. Students who have completed post graduate studies in Financial Planning. A list of pre-approved course are available on our website. Students who have completed post graduate studies in Financial Planning, and the course is not listed on our Approved Degree List. In such case, you can apply for a transcript review. If you have successfully completed the Certified Investment Management Analyst (CIMA) certification, and hold the designation. (CFP 4 only) If you have successfully completed the Certified Financial Analyst (CFA) certification and hold the designation. (CFP 4 only) Please note, there is no advanced standing for CFP 1 or CFP C. Advanced standing (credit) and recognition for prior learning will be given for relevant learning completed within a period of 10 years. Advanced standing for further study Some education providers will allow you to count CFP Certification units towards a Masters as cross credits. This means that if you complete the CFP Certification Program with us you may be granted advanced standing for further Masters level study at university. Please visit to see our Approved Degree List for further information.

6 THE PROGRAM The FPA is the only professional body in Australia licensed to deliver the CFP Certification Program. As part of our licensee agreement with the Financial Planning Standards Board, we must ensure that the high standard of this global designation is maintained, and that the CFP marks are used correctly. Put simply, it is our role to protect the designation in Australia. There are currently over 170,000 CFP professionals worldwide, and over 5,600 in Australia. The designation is recognised in 26 countries, and therefore in some ways, is transportable. To achieve the designation, you ll need to meet the FPA Professional Standards Framework of the four Es : ETHICS EDUCATION EXAMINATION EXPERIENCE Description Admission requirements Designation requirements ie. to enter the program ie. to sucessfully complete the program and use the CFP mark ETHICS Your capacity to make decisions in the best interest of your client and a formal commitment to ethical practice. Current voting FPA member and committed to the FPA Code of Professional Practice. Current voting FPA member and committed to the FPA Code of Professional Practice and successfully completed CFP 1. EDUCATION EXAMINATION The formal technical competencies, knowledge and capabilities required by the profession. The systematic and regular monitoring and testing of knowledge and capabilities to ensure your expertise is maintained. Approved degree OR Australian finance degree & Diploma of Financial Planning OR Non-finance related degree or international degree & Advanced Diploma of Financial Planning OR Advanced Diploma of Financial Planning & working towards a degree OR 8 subjects from an approved Master s (Graduate Diploma) Sucessfully completed technical units CFP 2 - CFP 4 or achieved Advanced Standing for CFP 2-4. Successfully completed the CFP Certification assessments including the examination. EXPERIENCE The practical, on the job learning and skills development that confirms professional practice. 12 months minimum relevant industry experience or completed an FPA approved degree. Three years full time or equivalent part time industry experience within the last five years, comprising: Two years full time or equivalent part time indirect experience; and A minimum of one year full time or equivalent part time direct client facing experience following the six steps of financial planning.

7 PROGRAM OUTLINE CFP 1 FPA Professionalism This unit provides the building blocks to best practice financial planning and world class professional standards. As such, the unit is compulsory for all students. Topic 1: Professionalism Introduction Topic 2: Professionalism and Ethics Topic 3: The CFP Practitioner: Client Relationship Topic 4: The CFP Practitioner: Stakeholder Relationship CFP 2 Applied Strategies 1 This unit is the first of three units on strategy development, a fundamental part of your role as a financial planner. You will learn to develop integrated strategies for each client and formulate recommendations based on the ethical and professional standards of the industry and regulatory framework. Topic 1: Introduction to Strategy Development Topic 2: Applied Structures Topic 3: Risk Management Strategies Topic 4: Debt Management Strategies Topic 5: Salary Packaging Strategies CFP 3 Applied Strategies 2 This unit focuses on strategy development, relating to leaving the workforce. Whilst the unit covers superannuation and estate planning, you will also cover specific issues relating to clients leaving the workforce, pension and benefit strategies, plus strategies for expatriate clients too. Topic 1: Leaving the Workforce: Issues and Strategies Topic 2: Superannuation Strategies Topic 3: Pension and Benefit Strategies Topic 4: Estate Planning Strategies Topic 5: Strategies for Expatriates This unit focuses on the development of investment strategies, based on the personal circumstances of your client. The topics within the unit cover a wide range of modern day strategies and the risks and benefits that come with each. CFP 4 Investment Strategies Topic 1: Advice Process of Portfolio Construction Topic 2: Asset Allocation and Risk Topic 3: Investment Strategies and Structures Topic 4: Investment Managers and Products Topic 5: Alternative Investments Topic 6: Exchange-Traded Products Topic 7: Applied Decision Making Successfully completing the CFP Certification unit will verify that you have mastered the knowledge and practical application required to become an accomplished CFP professional. CFP Certification Assessment This unit comprises: 1. a financial plan case study 2. a four hour multiple choice examination 3. supervised meetings with clients; and 4. a detailed record submission of your experience

8 ASSESSMENT SNAPSHOT Below is a summary of the CFP Certification Program, which must be completed within four years from when you first enrol into the program. CFP 1 CFP 2 CFP 3 CFP 4 CFP C Assignment Yes Yes Yes Yes Yes Final weighting 100% 40% 40% 100% Need to pass Assignment length 6,500 word count 5,000 word count 5,000 word count 5,500 word count 55 pages (excludes appendices) Pass mark 70% 70% 70% 70% 75% Examination Not applicable Yes Yes Not applicable Yes Final weighting Not applicable 60% 60% Not applicable Need to pass Examination type Not applicable Open book Short answers and online multiple choice test Open book Short answers and online multiple choice test Not applicable Open book Multiple choice Passmark 70% 70% Observation Not applicable Not applicable Not applicable Not applicable Yes Record of Experience Not applicable Not applicable Not applicable Not applicable Yes * (One year practising as a financial planner) CPD hours 30 hours 40 hours 35 hours 37 hours 35 hours Timeframe 1 semester 1 semester 1 semester 1 semester 1 semester or 2 semesters LEARNING APPROACH AND TOOLS Our learning approach is designed to develop the advanced skills and understanding required at a postgraduate degree level. To help achieve this, our approach focuses on the following areas: Extension of existing and new learning through analysis of complex, modern-day case studies. The thinking processes involved in developing, selecting, presenting and reviewing client-focused, holistic strategies. Individual and independent research and reading, beyond your study material. IMPORTANT You can take CFP 1 to CFP 4 in any order. Before you commence CFP C you must successfully complete all other units. Thorough analysis of essential issues and fundamental ethical principles with a strong focus on compliance. To complete the program successfully, you ll need to bring your experience and expertise to your studies, but also the motivation for self-directed and autonomous learning. External research is the key to a successful result.

9 STUDENT RESOURCES FPA Learn is our online learning platform. This will be the key to access your learning materials, chat rooms and where you submit assessments FPA Learn offers a range of support mechanisms allowing you to interact with subject experts as well as other students. By leveraging these tools you will be able to expand and strengthen your learning. STUDY GROUPS You can form and take part in a study group with other students on the CFP Certification Program. CHAT ROOM We encourage you to communicate with other students, to exchange ideas and study techniques. You can post questions about the content, assignment or examination. Whilst we always encourage discussion and sharing ideas, any work you submit must represent your own interpretation and thinking. We recommend you visit the chat room regularly for the latest information. SUBJECT EXPERTS To help you understand the technical content of the learning material, we appoint a Subject Expert to each unit. The Subject Expert is available to assist you with any issues you have. Simply post your questions in the Chat Room and the experts will respond. Our experts are practising financial planners who are committed to giving back to the financial planning community. Please allow two working days for a response. LIVE TUTORIALS You will have the opportunity to participate in online live tutorials with our subject experts. These sessions are designed to explore further the technical content of the unit while providing practical case studies. Tutorials are recorded and available to view again. You will also be awarded CPD hours.

10 EXPERIENCE REQUIREMENTS The practical application in the workplace of the technical knowledge gained through formal study is a key characteristic in the development of a professional financial planner. Completion of work experience under supervision will provide you with the support, expertise and advice of an experienced member of the financial planning profession and provide further public confidence in the quality of the advice offered by CFP professionals. To complete the CFP Certification Program and apply for the CFP designation, you will need to have three years full time or equivalent part time industry experience within the last five years, comprising: Two years full time or equivalent part time indirect experience: and A minimum of one year full time or equivalent part time direct client facing experience. You must also be authorised to give financial planning product advice for the period of the direct experience for a minimum of 12 months. This experience needs to be obtained in the five years immediately preceding the date of application for your CFP designation. CROSS BORDER ARRANGEMENTS If you are certified in one of the countries affiliated with the Financial Planning Standards Board and are currently authorised to use the CFP marks in that country, you can apply for CFP Certification in Australia. To do this you will need to provide us with the following: Your overseas CFP designation A copy of your degree A letter of good standing from the CFP Certification body in the country you gained your CFP designation. Completion of the Diploma of Financial Planning (RG146 compliant) Proof of Australian residency. Once we have this documentation and you have become an FPA member, you can then enrol into the Australian CFP Certification Program. You will then need to successfully complete CFP 1 followed by CFP Certification (exam only).

11 PRICING AND IMPORTANT DATES Below is a list of prices for each unit within the CFP Certification Program and important dates for Semester 1. Subject Unit Price Includes tutorials, course materials and assistance Course fees Preferential rate for FPA Professional Partners and Practices CFP 1, CFP 2, CFP 3, CFP 4 $1,550 per unit $1,240 per unit CFP Certification $1,850 $1,480 CFP 1, with advanced standing from CFP 2-CFP 4 Including course materials for CFP 2 - CFP 4 $1,850 $1,480 Partial withdrawal refund before advertised date $550 $240 Repeat Subject Unit Price Includes tutorials, course materials and assistance Course fees Assignment $1,100 Exam $950 Repeat Assignment & Exam $1,200 Remarks CFP 1 - CFP 4 $450 Resubmission CFP Certification $450 Important Dates Semester 1, 2018 Enrolments open Final enrolment date Semester start Full refund withdrawal Partial refund withdrawal No refund withdrawal 10 Jan 12 Feb 26 Feb Before 12 Feb 13 Feb - 30 Mar From 2 April Assessments due CFP 2 & CFP 3 Assignment CFP 1 & CFP 4 Assignment CFP Certification Assignment CFP Certification Observations & Record of Experience 11 April 9 May 26 April 11 April Examination (excluding CFP 1 & CFP 4) and Online Test for CFP 2 & CFP 3 only Result release 15 May one week prior to exam date 15 June

12 WHAT S NEXT PRE-ADMISSION The best way for us to learn about your personal circumstances and get you on the right path, is to complete the pre-admission application. Through this service, you ll find out more about your personalised pathway. Once successful, your place in the program is guaranteed. To get started, visit TALK TO US If you d prefer to start by asking us more questions about the CFP Certification Program, we d be delighted to help. Simply contact us on or us at education@fpa.com.au. ABN GPO Box 4285 Sydney NSW education@fpa.com.au Financial Planning Association of Australia Limited