IFA fights for CFP rights
Lyn McMorran, IFA president, said while the industry body was generally pleased with the draft code, it wanted some of the alternative qualification rules "tidied up".
In its code submission released yesterday, the IFA called for holders of the CFP and CLU designations to be exempt from achieving educational standard set C, which concern adviser's practice and processes.
The industry body says advisers who have completed the group's two-year mentoring program should also be exempted from completing standard set C.
As well, the IFA says CFPs should be considered as having already attained standard set D, which relates to investment knowledge, as the educational mark shows they have demonstrated "competence and understanding of investment theory and the fundamentals of investment".
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