Australia, India Boost Cross-Border Opportunities For Certified Financial Planners
Certified Financial Planners (CFP) Professionals in India and Australia can now work in both countries and get international exposure thanks to the collaboration between FAAA and FPSB India. It paves new pathways for employment, education and professional development.
Financial Advice Association Australia (FAAA) and FPSB India have entered an agreement to improve professional development and cross-border mobility for Certified Financial Planners (CFP) professionals and aspirants in both countries. Sarah Abood, CEO, FAAA and Krishan Mishra, CEO, FPSB India signed the memorandum of understanding (MoU).
The strategic alliance between the financial planning communities of both countries will allow a seamless transition for financial advisers, CFP professionals, and students in India and Australia.
The two partners have agreed to bridge the educational content and alliance with institutes in India and Australia to establish certification pathways for aspirants and their professional growth. Under the agreement, while seeking employment, the CFP professionals will be able to meet local regulatory across borders.
Krishan Mishra, CEO of FPSB India, said: "In our continuous efforts towards globalising financial planning standards and opportunities for our aspirants and professionals, this partnership is a crucial step. By collaborating with FAAA, Australian universities and firms, we aim to equip Indian CFP professionals with international competencies while ensuring a smooth transition across borders. It opens new avenues for our financial planning community to grow and thrive in a global market."
CFP Professionals In India, Australia To Get Professional Development And Global Exposure
FAAA and FPSB India will ensure professional development (CPD) opportunities for financial professionals in both countries. The Indian professionals will be able to access the FAAA-accredited CPD program in India so that before seeking employment or certification in Australia, they will be able to complete the required coursework. Moreover, Australian professionals will be able to get ready for financial employment in India.
The Indian CFP aspirants will get the qualifications for Australian financial planning. It includes study units as per the Australian legislative standards. The organisations are also trying to follow the FPSB’s cross-border certification policies and align the certification requirements as per the policies. It will help the Australian CFP professionals in professional exchange and seek certification in India.
CFP Professionals To Get Enhanced Networking, Employment Opportunities
Indian CFP professionals who are planning a transition to Australia will get help through networking opportunities with superannuation trustees, planning practices, and Australian financial services firms. The agreement will also help Indian professionals in the creation of their professional year placements. The partnership will help the professionals to expand their global career prospects and get valuable experience.
FAAA CEO, Sarah Abood, said: "This partnership with FPSB India will create pathways for financial professionals to move between Australia and India. The collaboration provides our members and aspiring professionals with opportunities to expand their expertise and gain international experience. Australia is one of the most multicultural countries in the world, with almost 30 per cent of the population born overseas. India is our second largest source of migrants (second only to England) and this initiative will also help our profession better serve this strong and growing community. The declining number of financial advisers in Australia is a well-known and serious issue. We hope this agreement with FPSB India will lead to more advisers working with Australians to help them achieve their financial goals.”
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