Shaun Weston-Cole

The Financial Planning Association of Australia (FPA) has exempted Certified Investment Management Analyst® (CIMA®) certificants from a core component of the Certified Financial Planner® (CFP®) program.

The exemption offers Australian CIMA certificants an accelerated path to CFP certification, and supports growing recognition of CIMA certification as the peak international, technical portfolio construction certification program, for investment and wealth management practitioners and advocates.

Following an independent assessment of the CIMA program, the FPA has awarded “advanced standing” status to CIMA certificants for the CFP 4: Investment Strategies unit. CFP 4 focuses on the development of investment strategies in accordance with the personal circumstances of clients, and constitutes one of four modules which non-exempt CFP candidates must complete, prior to final assessment. Exemption from CFP 4 will be granted to CIMA certificants who meet the entry requirements for CFP, and who request advanced standing when they enrol in the CFP program.

Advanced standing for CFP 4 brings several benefits, allowing exempted CFP candidates to save an estimated 120 hours of study time, and reducing course fees by as much as A$1,550 (based on the charging structure for 2017).

The exemption additionally provides independent confirmation that CIMA certification meets level nine of the government-managed Australian Qualifications Framework, and that CIMA designees have therefore completed a master’s degree-level educational program.

“The FPA’s decision is a welcome recognition of the high educational standards of the CIMA program,” said Graham Rich, managing partner and dean of PortfolioConstruction Forum, which manages and delivers the CIMA program in Australia. “Advanced standing is good news for CIMA certificants who want to use their investment skill and knowledge as a financial planner, and for certificants who work in business development and who wish to gain a greater understanding of the financial planning role.”

Shaun Weston-Cole, head of education at the FPA, said: “The FPA welcomes the addition of the Certified Investment Management Analyst (CIMA) certification to the list of quality education providers approved for advanced standing for the CFP 4 unit of the CFP Certification Program.”

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Mr Weston-Cole’s focus will be on the CFP® Certification Program student experience as he leads the introduction of new technologies in the delivery of the program.

Commenting on the appointment, FPA CEO Dante De Gori CFP®, said: “Shaun brings considerable experience to the FPA and we are excited to have him join the team.

“We know our program content is world class and now we want to focus on delivering the best possible student experience. In addition to this, we want to develop a solution for financial planners who need to undertake further study to meet the forthcoming education requirements.”

Mr Weston-Cole said he was very excited about joining the FPA, especially with the current focus on education in financial planning.

“Education has a key role to play in raising the standard of professional financial advice and ensuring that the lives of more Australians are enriched.

“Tremendous opportunities exist for financial planners to utilise education and professional development programs to broaden their professional and technical skills and differentiate themselves within the market,” he said.

Before joining the FPA, Mr Weston-Cole drove learning content design and development for the College of Law, where he also oversaw the implementation of a new learning management system for all academic programs across the Asia Pacific region. Prior to the College of Law, he worked for CCH Australia, which provides information solutions to accounting, legal and employment and safety professionals.

Mr Weston-Cole replaces Howard Cook, who has transitioned into the role of FPA Head of Academic Relations. In this role, Mr Cook will be responsible for bolstering the FPA’s existing relationships with academic institutions and ensuring that financial planning becomes a growing element of the Australian university curriculum.

Earlier this year, the FPA also appointed Andrew Cooper to lead engagement with students and get financial planning on the career agenda.

Commenting on the team changes, FPA CEO Dante De Gori CFP®, said: “We’re passionate about supporting the development of the financial planning curriculum in Australia.

“We are also excited to build on our relationships with universities and ensure the foundations are in place to support budding financial planners on their career journey.”

Enrolments for Semester 2 of the CFP® Certification Program open 1 June. Visit www.fpa.com.au/cfp to find out more.

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