Kaplan Professional has proposed a new framework for continuing professional development (CPD) – challenging the current 'compliance-focused, process-driven, and time-based' model and recommending a system measuring the quality of learning.
The new framework for financial CPD requirements, assessment, and accreditation – embedded in Kaplan's recently published white paper – recommends the following:
- A point-based system for determining an individual’s CPD requirements. This allows learning to be acknowledged based on quality of learning and thinking skills; and enables a scale of differentiation between learning activities.
- The allocation of points based on outcomes, and not on the hours spent or number of words. This enables and encourages advisers to choose the learning that best suits their needs at different experience or career points.
- The assessment of learning events and allocation of points based on learning outcomes; and
- Providers can have learning events assessed and points awarded for CPD.
The framework also explores the use of technologies, such as micro-learning, adaptive learning, and artificial intelligence (AI), to provide personalised CPD.
Jennifer Hornsey, Kaplan Professional head of CPD, said the publication of the white paper and framework aimed at improving the status quo and lifting the standard of CPD across the industry.
“We want to change the value of CPD beyond compliance and move towards a lifelong-learning mindset, standardise recognition and accreditation models, and recognise innovative CPD delivery methods,” Jennifer Hornsey, Kaplan Professional head of CPD.
Brian Knight, Kaplan Professional CEO, said the framework would enable advisers to continually broaden and deepen their knowledge wherever they are in their career journey.
“Advisers will be able to learn in the most effective and efficient way, while being able to tailor their learning to their own personal needs, level of experience, and career aspirations,” Knight said. “Many advisers have careers of 30-plus years, so it is vital we provide them with the best opportunity to continue to learn and grow throughout their journeys. It also creates consistencies and clearly defines the accreditation and measurement of CPD.”
Knight encourages the industry to consider the framework.
“It is an independent framework, educationally sound, forward-looking, and accommodates both current and future delivery methods,” he said. “It is practical, flexible, and embeds lifelong learning for a profession of the future,” he said.
The framework was developed by drawing on industry feedback and insights from Kaplan's 30,000 Ontrack subscribers, as well as by utilising various current CPD accreditation models in Australia and around the world.
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