AMP and Griffith University have expanded their joint education offering to help financial advisers meet the FASEA education standards, including a bachelors’ degree, postgraduate courses for existing AMP advisers and scholarships for talented students.

AMP is also offering its advisers a free, online training course to prepare them for postgraduate study.

The Financial Adviser Standards and Ethics Authority (FASEA) has started releasing the new education, training and ethical standards for financial advisers.

The standards, which will be finalised following a consultation period, give advisers and education providers clarity on the content that must be covered in a tertiary qualification for it to be approved by FASEA.

From 1 January 2019, all new advisers must have met the FASEA standards while existing advisers will have until 31 December 2023.

AMP Head of Advice Education, Capability & Careers Rod Edge said education and professionalism were key to a strong, sustainable future for financial advice.

“AMP is committed to advice and we want to ensure advisers have a clear pathway to FASEA compliance”, Mr Edge said.

“In particular, we understand that it can be challenging returning to study while running an advice practice, which is why we have built flexibility into the course programs.”

Griffith is accepting enrolments for 2019 in the new Bachelor of Applied Financial Advice, designed for future advisers. FASEA approval will now be sought for this degree.

Current advisers in the AMP network will have access to flexible postgraduate qualifications.

• The 2-4 year Graduate Diploma is for existing advisers who do not have a degree or whose degree is not in a discipline related to advice
• The 1-2 year Graduate Certificate is for AMP advisers with a degree in a related discipline such as accounting or economics who have been determined as eligible for recognition of prior learning

The FASEA standards for bridging courses will allow the content for these two qualifications to be finalised and AMP advisers will know how their existing qualifications and recognised experience will be credited. Enrolments for the Graduate Certificate and the Graduate Diploma are expected to open in early 2019 once they receive FASEA approval.

AMP and Griffith have been pioneers in developing financial advice as a discipline at the tertiary level, launching a Master of Financial Planning in 2014.

Griffith Business School Pro Vice Chancellor Professor David Grant said: “Griffith University is a leader in the field of personal finance and financial planning and we welcome the FASEA education standards.

“The partnership between AMP and Griffith merges the best of two worlds - existing industry and academic content, practical training and a supported coaching model from AMP along with Griffith’s blended learning technologies, rigorous assessment, accreditation frameworks and strong education and research expertise.

 “Griffith Business School’s focus on improving ethical standards and integrity through both research and education will play an important role in helping to restore confidence in the sector,” Professor Grant said

Pictured, top: Griffith Business School Pro Vice Chancellor Professor David Grant