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fpa cpd education programs   |  1

CPD Education Programs

Cutting edge professional development

when you’re

Finished with

learning you’re finished.


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cpd education programs

At the end of 2010, we defined and articulated why we exist, what we stand for, our goal and why it matters. PURPOSE To help the financial planning industry become a universally respected profession. VALUES Professionalism Standards | Processes | Governance Accountability Commitment | Responsibility | Delivery Integrity Ethics | Transparency | Respect MISSION The Financial Planning Association acts in the public interest by setting, promoting and enforcing the highest standards of professional conduct among its members. VALUE PROPOSITION The Financial Planning Association provides vision, leadership and resources to raise the professional standards and community standing of its members.


fpa cpd education programs   |  1

FINANCIAL PLANNING IN AUSTRALIA

IS COMING OF AGE – FPA MEMBERS ADHERE TO

HIGHER STANDARDS THAN REQUIRED BY LAW, & WE BELIEVE OUR CODE

IS WORLD-CLASS. Maintaining these standards is crucially important for the future of our profession and CPD education is at the heart of our drive to win the community’s trust and respect. The FPA’s range of tailored CPD programs are developed by the country’s leading experts and they are delivered in many different ways, from face-to-face to DIY online courses.


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cpd education programs

LEADING THE FINANCIAL PLANNING PROFESSION The Financial Planning Association (FPA) represents the interests of the public and Australia’s professional community of financial planners. We are unrivalled in our: • reach of the financial planning market • influence on government and regulators • standards set through our world-class Code of Professional Practice • unique position as the certification body in Australia for the global CFP® designation, and • reputation for quality professional development. With more than 10,000 members and affiliates, of whom 7,500 are practising financial planners and a 20-year legacy, the FPA represents the changing face of financial planning, from industry to a profession. The FPA has five key roles to play: 1. To represent professionals:  to become a member of the FPA, financial planners need to meet higher standards than the minimum levels required by law, so we represent the true professionals in the financial planning industry. 2. To advocate and advance the profession:  we represent the collective voice of our members and their clients when lobbying government, the opposition, the regulator and other bodies. 3. To set and maintain high standards:  we set and enforce professional and ethical standards for our members to make sure that they conduct business to the highest quality. 4. To award certifications:  we are the only Australian body that assesses and awards the Certified Financial Planner® or CFP® designation, which is the highest certification available to financial planners worldwide. 5. To foster professional development:  we design and offer an industry-leading range of training programs to help financial planners keep their knowledge and skills up to date.


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Why choose the FPA for your CPD? FPA members deserve professional development that encourages them to grow in all dimensions of their professional life, BEYOND THE MINIMUM REQUIREMENTS OF REGULATORY COMPLIANCE (RG146). Our CPD programs enable members to take ownership for their development through engaging and relevant learning experiences.

Our commitment Our commitment is to enhance the professional capabilities of financial planners. To fulfil this, the FPA offers members access to CPD education of the highest quality as defined by the FPA CPD Policy and Accreditation guidelines. The FPA ensures members are able to gain best practice knowledge as defined by the FPA Code of Professional Practice through an industry-leading range of relevant and differentiated professional development opportunities. When you participate in any CPD course delivered by the FPA you can be assured that it will contain relevant content delivered by leaders in the field which is easily implemented in your day to day business.


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Redefining the meaning of being a professional CPD programs are designed for financial planners at different stages of their professional development. FPA practitioner members must undertake CPD as part of the professional obligations they agree to meet in order to retain membership and use of designations. How the FPA CPD Policy helps our members The FPA CPD Policy has purposely moved beyond the competency areas identified in RG146 and instead broadened its definition of professional development to encapsulate a more complete and multi-dimensional model of what it means to be a professional. The Professional Dimensions model was developed by the FPA for this purpose. It is captured in the FPA CPD Policy which was launched in 2009 by the FPA following extensive consultation with FPA members, regulators and the education community. The Policy encourages broader development and recognition of activities for FPA members that support them in being a well-rounded professional no matter what stage they may be at in their career. The Policy specifically aims to encourage FPA members to: • consider that CPD is not a compliance challenge but an opportunity to maintain personal and professional confidence and proficiency • broaden the range and type of acceptable CPD activities undertaken • take opportunities to reflect upon their own professional practice • participate in learning activities which meet the legal and ethical obligations of the profession, and • pursue opportunities for engagement with the profession and the wider community.


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Adding another dimension To professional development At the FPA we develop CPD that covers SIX dimensions to allow our members to experience depth and variety through programs that are relevant to all aspects of professional development. Being a professional is more than being technically competent. It’s about being a well-rounded individual with the ability to think critically and respond to client needs in a professional way. The Professional Dimensions describe the holistic SKILLS and KNOWLEDGE that it takes to be a professional. The FPA’s CPD Policy encourages members to identify development opportunities across the six professional dimensions. In our view any and all educational activity can fall under one or more of the dimensions.

Capability

The technical, legal, product and industry knowledge that it takes to advise clients and run a business.

Professional Conduct

All the skills and knowledge that go into making good, informed clientcentred decisions according to professional and ethical expectations.

Critical Thinking

The skill of how to process complex information and create new solutions.

Reflective Practice

Skills in developing others and yourself – thinking about the professional and personal needs of others as well as your own.

Interdependence

Engagement with the profession, the industry and peers in ways that instill consumer confidence.

Attributes and Performance

Skills in building professional relationships and improving professional performance.


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cpd requirements for fpa members The following chart details the CPD requirements for FPA members. CFP® Professionals

Financial planners (AFP®) Professionals

120 points every 3 years* with a minimum of 35 points each year

90 points every 3 years* with a minimum of 25 points each year

Capped at 60 points every 3 years*

Capped at 45 points every 3 years*

Minimum of 3 points every 3 years* in the Professional Conduct Dimension specifically covering Ethics

CPD activities undertaken must be captured in a Professional Development Record

The following records must be kept for 5 years: • Professional Development Record (or CPD register) • Professional Development Plan • Additional evidence for non-accredited activity

* CPD points are calculated on a financial year basis from July 1 to June 30 on set three-year periods, called a ‘triennium’, as follows: Start date:

July 1, 2009

July 1, 2012

July 1, 2015

End date:

June 30, 2012

June 30, 2015

June 30, 2018

As an FPA member, when you renew your membership each year you will be asked to declare that you have met the CPD requirements in order to maintain your membership and, if applicable, your CFP® Certification.


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CPD education tailored to fit your requirements CPD points may be earned through a variety of delivery methods, including face-to-face workshops, webinars, selfpaced study and personal study. Decide which combination suits you best. CPD Webinars These interactive sessions are presented live by leading financial, technical, compliance and business experts, directly to you in your chosen location. You and your colleagues can participate from any location with a broadband internet connection. You can ask questions throughout the session, share ideas and communicate directly with the presenter and other participants. The webinar environment is a convenient way to meet the experts, and is an enjoyable, stimulating and informative experience. Accredited Professional Reading Some CPD points may be earned by FPA members through private study and professional reading. Every quarter you will find a dedicated ‘CPD Quarterly’ supplement in Financial Planning magazine. Simply read the articles and answer 16 multiple choice questions based on these articles to earn extra points. CPD Recordings If you miss a live webinar or simply want to catch up with the content from a webinar that has already run, the FPA has an extensive library of CPD webinar recordings that cover a wide range of topics. You still get to enjoy many of the benefits of live training. You will experience the questions being asked through the training session and the interaction between the presenters and delegates. Session notes may also be available for download. Self-Paced Training CPD self-paced training provides members access to online professional development solutions that you can complete at your own pace. You can decide where, when and how long you take to complete the training and the program will give you opportunities to check your learning as you progress. Face-to-Face Training Our face-to-face experiences are designed to give you high quality, practical training in an interactive format. You will be working closely with peers and facilitators to work through role plays and case studies, with plenty of opportunity for questions and supervised hands-on practice. Visit www.fpabestpractice.com.au/learn to find out about our latest programs and CPD quarterly quiz.


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Learn at your own pace and on your own terms The FPA offers a valuable library of recorded online programs to practitioners with preferential pricing for members.

Preparing for FoFA Series

FPA Professional Dimensions: Capability, Attributes and Performance, Professional Conduct

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C PD Poi n ts

Beyond the Shadow Shopper

Recorded 21/5/12 | 2 points (90 mins)

Dr Deen Sanders (FPA) and Evan Kinter (ASIC) talk through the findings of the 2011 Shadow Shopper research and identify the unique elements that made the advice experience for the participants good, adequate and poor. FoFA in practice – Your implementation guide Recorded 27/4/12 | 1.5 points (90 mins)

Claire Wivell-Plater will guide you through the final FoFA legislation and provide guidance on the practical steps you will need to take to meet the new requirements. Value creation for fee-for-service professionals Recorded 27/7/11 | 1.5 points (90 mins)

Christina Foster explains what ‘value creation’ now means for FPA professionals and how it can help support you to transition existing customers to the new fee-for-service structure and attract new clients. Your fee proposition – Why value for money is more important than fees Recorded 28/10/10 | 1.5 points (90 mins)

Jim Stackpool reveals his approach to getting your fee proposition right. 10 Steps to creating the right fee model Recorded 25/8/10 | 1.5 points (90 mins)

Sue Viskovic CFP® gives you the practical steps you need to undertake to create your new pricing model, and then implement it through your practice in order to make a successful transition to fee-for-service.

Price per program | Members: $49, Non members: $99 PricE FOR THIS SERIES | Members: $200, Non members: $400


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4. 5

Client Communication series

C PD Poi n ts

FPA Professional Dimensions: Attributes and Performance First appointment interview techniques for different clients Recorded 30/5/12 | 1.5 points (90 mins)

When meeting clients for the first time, it is critical to get the conversation right from the start. In this session, Wayne Lear CFP® and Helen Parker (currently undertaking a PhD in Emotional Intelligence for Financial Planners) will share with you their techniques, words and approaches. Top client retention and connection strategies Recorded 16/9/11 | 1.5 points (90 mins)

In this session you will be shown proven retention drivers to keep connected to your clients. Rachel Staggs will share with you what she knows works and plenty of ideas on how and what to communicate to your clients to position yourself effectively in these changing times. A day in the life of an emotionally intelligent planner

Recorded 12/7/11 | 1.5 points (90 mins)

Helen Parker and Wayne Lear CFP® will explore how to effectively bring emotional intelligence (EI) skills to your client relationships, blending the latest cutting edge research with extensive industry experience.

Price per program | Members: $49, Non members: $99 Price FOR THIS SERIES | Members: $130, Non members: $260

Communicating your value proposition series FPA Professional Dimensions: Attributes and Performance, Capability Jim Stackpool on new conversations for greater value Recorded 13/6/12 | 1.25 points (75 mins)

In this webinar Jim will reveal how to maximise each interaction with your clients to sharpen your value and deepen trust. Value propositions for tight times

Recorded 30/11/11 | 1.25 points (75 mins)

Jim Stackpool will share his experience working with Australia's best advisers who have lifted their revenues and performance despite market uncertainty. This webinar will help you better position the value you add to your clients. Marketing yourself and your practice online Recorded 5/5/11 | 1.5 points (90 mins)

Rachel Staggs provides valuable insights into the ways in which you can use your website and social media channels to attract new clients and keep you connected to existing ones!

Price per program | Members: $49, Non members: $99 Price FOR THIS SERIES | Members: $130, Non members: $260

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C PD Poi n ts


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Investment series

fpa Professional Dimensions: Capability

6

C PD Poi n ts

ETFs Part 1 – The industry landscape and portfolio construction opportunities Recorded 24/8/11 | 1.5 points (90 mins)

This first session of a two-part series will introduce ETFs, look at the substantial growth that is occurring, and identify different types of ETFs and the broad array of ETFs that are now available on a global basis. ETFs Part 2 – Alpha and beta strategies using ETFs Recorded 20/9/11 | 1.5 points (90 mins)

This second session on ETFs explores how the rapidly developing ETF market in Australia dovetails nicely with the imminent regulatory changes in the advice market and provide advisers, regardless of their business model, as an opportunity to enhance their clients investment experience. Value investing in Australia with Roger Montgomery Recorded 22/2/11 | 1.5 points (90 mins)

This presentation invites you to a rare opportunity to learn and apply the three principles that highly regarded equity analyst and successful portfolio manager, Roger Montgomery, uses to identify extraordinary businesses and establish the appropriate price to pay for shares. Portfolio construction – Integrating front-line investment thinking into your advice proposition Recorded 17/11/10 | 1.5 points (90 mins)

In this session you will discover the principles of portfolio construction, including key fundamentals of risk and return, and learn more about the strengths and weaknesses of the investment theories that have shaped portfolio construction for decades. You will be shown how to integrate portfolio construction thinking into your dealings with clients and provide you with the know how to deliver true value.

Price per program | Members: $49, Non members: $99 Price FOR THIS SERIES | Members: $150, Non members: $300

Estate Planning series

FPA Professional Dimensions: Capability

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C PD Poi n ts

Estate and succession planning – Fee models and advice propositions Recorded 16/5/12 | 1.5 points (90 mins)

The types of strategic advice you can provide, and how you can create value for you and your client, improving client relationships through the process. Implementing a family wealth management system into your practice Recorded 16/3/11 | 1.5 points (90 mins)

This webinar has been designed to provide you with an insight into the value proposition behind estate planning and help you to implement this highly productive specialist area of advice into your practice.

Price per program | Members: $49, Non members: $99 Price FOR THIS SERIES | Members: $80, Non members: $160


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Aged Care and Retirement Advice series

3

C PD Poi n ts

FPA Professional Dimensions: Capability, Critical Thinking Aged care technical update

Recorded 28/3/12 | 1.5 points (90 mins)

Louise Biti CFP® covers the essential rules that form the foundations of advice in aged care, including current aged care trends, fee calculations, and tips for building aged care advice into your value proposition. Making sense of retirement homes Recorded 15/9/10 | 1.5 points (90 mins)

Richard Andrews shows you how to develop a new advice service to retirees or their families who are considering the purchase of a retirement home.

Price per program Price FOR THIS SERIES

| Members: $49, Non members: $99 | Members: $80, Non members: $160

Risk Advice series

FPA Professional Dimensions: Capability Threats to discretionary trusts

4.25

C PD Poi n ts

Recorded 16/3/12 | 1.25 points (75 mins)

Discretionary or family trusts have been used comprehensively by clients as effective structures to protect assets in a flexible, tax effective way. However, changes heralded by the ATO have raised serious concerns about the future use of trusts, presenting new challenges for advisers’ clients. Insurance advice for small business owners Recorded 21/6/11 | 1.5 points (90 mins)

Sue Laing covers the technical areas required to professionally assess small to medium business succession risks associated with death, illness and injury. She will show you what needs to be delivered in your SME clients’ advice process in order to ensure the solutions necessary to protect the estates, maintain lifestyle and assure business continuity, in the event of the unforeseen. Your life risk value proposition

Recorded 10/3/11 | 1.5 points (90 mins)

Sue Laing will share with you where the ‘value’ really is in your risk proposition and how you communicate it to your clients in an engaging and effective way.

Price per program | Members: $49, Non members: $99 PricE FOR THIS SERIES | Members: $130, Non members: $260


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ETHICS SERIES

FPA PROFESSIONAL DIMENSIONS: PROFESSIONAL CONDUCT (ETHICS) FPA Code of Professional Practice induction program

6.5

C PD Poi n ts

Self paced program | 2 points (approximately 120 mins) FREE FOR FPA MEMBERS

Adhering to high professional standards is integral to your work as a trusted financial planner. To this end, the FPA has created an interactive, online training program which will equip you with the knowledge of the Code and you can bring the Code to life in your business. FoFA and the Code of Professional Practice – Essential compliance guidance Recorded 22/6/12 | 1.5 points (90 mins)

Dr June Smith will examine how the FPA Code of Professional Practice responds to FoFA and how to comply. If you haven’t registered for the live session you can register for the recording. Inside the Code – Your professional obligations Recorded 09/7/10 | 1.5 points (90 mins)

This webinar recording of Dr June Smith gives members an overview of their professional obligations under the Code. FPA Code of Professional Practice – Client first and terms of engagement Recorded 30/09/2010 | 1.5 points (75 mins)

At a time when many financial planning practices are revisiting their professional service offer in contemplation of a fee-for-service environment, join Dr June Smith for an interactive discussion about how you can enhance your client value proposition using client first principles and good engagement management practice.

Price per program | Members: $49, Non members: $99 Price FOR THIS SERIES | Members: $130, Non members: $300


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June 2012


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abn 62 054 174 453 GPO Box 4285 Sydney NSW 2001

Members call 1300 337 301 Consumers call 1300 626 393

Phone 02 9220 4500 Fax 02 9220 4580

fpa@fpa.asn.au www.fpa.asn.au

CFP®, CERTIFIED FINANCIAL PLANNER® and CFP Logo Mark are certification marks owned outside the U.S. by Financial Planning Standards Board Ltd. Financial Planning Association of Australia Limited is the marks licensing authority for the CFP Marks in Australia, through agreement with FPSB.


FPA CPD Education Programs