FPA launches financial planning research grants for university academics.

The Financial Planning Education Council (FPEC) together with the Financial Planning Association (FPA) yesterday launched its inaugural round of financial planning research grants available to university academics, establishing the framework for an annual round of research grants in a partnership between the financial planning profession and academia.

The FPEC comprises academics and financial planning practitioners and is sponsored by the FPA. Together they have launched the grants to support higher education providers currently offering approved degrees that satisfy requirements for admittance to the CERTIFIED FINANCIAL PLANNER^®certification program. Currently 15 higher education providers have approved degree qualifications and others are in the process of accreditation.

The launch of the research grants was at the 2^nd Personal Finance and Investments Symposium held at Griffith University in conjunction with the biannual meeting of the Financial Planning Academics Forum.

Launching the Research Grants, Mark Rantall CFP^®, CEO of the Financial Planning Association said: “The FPA is proud to take a further step in ensuring a strong future for the financial planning profession. Our consultation with senior academics from across Australia has made it quite clear that the existence of academic research is essential to underpin quality university education in this discipline. In turn, financial support from the profession is the missing piece in the equation. Consequently, we have initiated the seed funding for this inaugural round of research grants and invite our Professional Partners to join us in this important initiative.

“An approved degree is a requirement for all new practitioner members of the profession and support for academics in this discipline is recognised as an essential part. We believe the funding will just be the start of a strong investment in universities by the profession. In working together to support the future CERTIFIED FINANCIAL PLANNER® of Australia we can ensure that more Australians than ever have access to quality financial advice.”

Associate Professor Mark Brimble, Co-Chair of the Financial Planning Academics Forum (FPAF), and Chair of the FPEC, said: “The grants scheme signals a further deepening of the relationship between the financial planning industry and the higher education sector as we work together to build the financial planning profession of the future. On behalf of my fellow Academic and Professional colleagues on the FPEC, I applaud the launch of these research grants as a critical part of the education landscape as we continue to build this community towards a strong professional future. There are significant benefits for all parties to engage in a program of rigorous, independent and timely research to inform practice and policy development. I commend our professional community for the support they have pledged to these grants and encourage my fellow academics to demonstrate its importance by applying for grants.”

Following a two stage application process, the first round of the grants will be awarded in March 2014. Initial Expressions of Interest will be accepted from November with a deadline of 8^th December 2013. The size of individual grants will be evaluated based on project needs and funding available. Initially, projects are eligible to receive up to $5,000.

The Financial Planning Education Council (FPEC) was established as an independent body chartered with the responsibility of raising the standard of financial planning education and promoting financial planning as a distinct learning area and a career of choice for new students and career changers.

The FPEC has representation of financial planning academics and CERTIFIED FINANCIAL PLANNER^® practitioners. It is sponsored by the Financial Planning Association of Australia and has representation from the Financial Planning Academics Forum (FPAF).

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