Interest Rate: A rate which is charged or paid for the use of money. An interest rate is often expressed as an annual percentage of the principal. It is calculated by dividing the amount of interest by the amount of principal. Interest rates often change as a resul
FAAA Expands Specialisation Program to Elevate Financial Advice Standards
FAAA Expands Specialisation Program to Elevate Financial Advice Standards
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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
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