Aged care partnership provides financial planning degree accreditation

From

Louise Biti

Deakin’s financial planning students now have the opportunity to complete an industry-based program in aged care advice and have it accredited towards their degree.

The new partnership between Aged Care Steps and Deakin’s Master of Financial Planning (MFP) program means that students who have successfully completed eight of MFP’s core units can enrol in the Aged Care Steps Accredited Aged Care Professional™ program as one credit point elective.

MFP Course Director Marc Olynyk said the partnership provided students with the opportunity to graduate with two qualifications and be eligible for the Financial Planning Association of Australia’s (FPA) Aged Care Specialist™ designation.

“Australia’s ageing population means advisers now need to understand what aged care is, and increasingly, have the knowledge, skills and confidence to appropriately support and advise their clients,” Mr Olynyk said.

“Having a professionally-recognised designation is important for financial advisers seeking to provide a comprehensive client service.”

As a market leader in aged care advice, Aged Care Steps supports financial advisers and other advice professionals with the resources and tools needed to deliver efficient and accurate aged care advice. Their organisation and education excellence have been recognised through industry awards and nominations.

Aged Care Steps Director Louise Biti said more than half a million Australians were aged 85 or over and, together with their families, represented a cohort that needed expert financial advice.

“Aged care is complicated to navigate alone, and great advice can make a difference,” Ms Biti said.

“By completing the Aged Care Steps Accredited Aged Care Professional ProgramTM as part of the Deakin qualifications, advisers can build their competency and credibility to service clients across all phases of retirement planning, including the ‘frailty years,’ as they take steps to satisfy the FASEA obligations.”

The industry-based aged care program incorporates five pre-reading modules, an interactive workshop program (online or face-to-face), and formal assessments including multiple-choice and short answer questions, and a comprehensive case study.

Mr Olynyk said the combination of Australia’s ageing population and complex aged care accommodation rules increased the importance and need for informed advice.

“Financial planners are uniquely placed to provide objective knowledge and support for clients who are often in a vulnerable and frail situation,” Mr Olynyk said.

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