FINANCIAL PLANNERS – TRAINING OF – AUSTRALIA

AMP cautions against new US-style test

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 20-Feb-15

AMP CEO Craig Meller says there is widespread acceptance of the need for better standards of education for Australian financial advisers. However, Meller has questioned the need for financial planners to undertake a national exam if they already have a university degree. The Australian Securities & Investments Commission recently proposed an exam system modelled on the Series 7 exam that is used in the US

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, FINANCIAL INDUSTRY REGULATORY AUTHORITY INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

ANZ backs exam for financial advisers

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Original article by Joanna Mather, Joyce Moullakis
The Australian Financial Review – Page: 3 : 12-Jan-15

The ANZ Bank’s submission to a Senate inquiry has supported a proposal to subject financial planners to an annual exam of their skills and knowledge. The bank’s submission cites a US Financial Industry Regulatory Authority exam as a model that could be considered in Australia. Centrepoint Alliance and Choice are among the other organisations that support exams for financial planners, although the Financial Planning Association does not

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN CONSUMERS’ ASSOCIATION, CENTREPOINT ALLIANCE LIMITED – ASX CAF, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG