18/07/2014 - 15:36

CommBank will only employ qualified planners

18/07/2014 - 15:36

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Commonwealth Financial Planning's announcement that it would only employ degree-qualified financial planners in the future has been strongly supported by academics.

CommBank will only employ qualified planners

Commonwealth Financial Planning's announcement that it will only employ degree-qualified financial planners in the future has been strongly supported by academics.

In a joint statement with the Federal Planning Association, the Commonwealth Bank will require all of its senior financial planners to hold certified financial planner accreditation by June 30 2017, with all new planners to be degree qualified, as part of the group’s move to boost educational standards across its wealth management division.

Deakin University senior lecturer Adrian Raferty, who teaches financial planning and superannuation, applauded the announcement and encouraged others to follow.

“We expect other financial institutions in the planning industry to follow CBA’s lead and make similar announcements in coming weeks,” Mr Raferty said.

He said Deakin University was well placed to welcome the senior financial planners at Commonwealth Bank to enrol in their master of financial planning course.

“The masters of financial planning course at Deakin is one of the strongest in the country and has been specifically designed to meet the education needs of the financial planning industry,” Mr Raferty said.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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