FAAA adds to approved specialisations program

Five key areas have been added to the Financial Advice Association Australia’s (FAAA’s) approved specialisations program, enabling more educators and providers of designations and qualifications to become a recognised provider of an ‘FAAA Specialism’.

Previously only available for providers offering specialisations in Aged Care, Life Risk and the Fellow Chartered Financial Practitioner (FChFP) designation, the program will now accept applications from providers with programs in the areas of Estate Planning, Retirement, Money Therapy, Self-Managed Superannuation Funds (SMSFs) and Responsible Investing.

“There is increasing demand from consumers for advisers with demonstrated expertise in specific advice areas,” Anne Palmer, FAAA’s General Manager of Education, said. 

“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. Licensees with advisers focusing on aged care or SMSF for example, often mandate further education in these fields for their advisers.

“An FAAA endorsed specialisation ensures the education content is of sufficient standard and that advisers holding the specialisation are continuing to undertake at least 5 hours of CPD per year in staying up to date in that field.

“By expanding the Specialisations Program, we are helping advisers distinguish themselves professionally and partnering with quality education providers to raise the standard of advice across the industry. Recognising high-quality specialist education is one way we can make that pathway clearer, more rewarding, and more accessible.”

The FAAA also encouraged educators or designation providers in other relevant “specialist fields” to apply to join the program.