The degree will include the CFP certification capstone as an elective option, which counts towards its Master of Financial Planning.

CFP certification units 1, 2, 3 and 4 have been mapped against the masters units at Deakin Business School.

Deakin Business School’s head of the department of accounting, Peter Carey, said the goal was to provide the highest quality study options for financial planners.

“At a time when all financial planners are grappling with the need to satisfy new education standards and demonstrate the highest level of professionalism and competence with their clients, this partnership demonstrates our commitment to working closely with the profession,” Mr Carey said.

FPA chief executive Dante De Gori said the move would allow financial planners to combine their study requirements into one single course.

“This is a significant win for financial planners, who will now be able to graduate with both an academic qualification and the highest global professional designation in financial planning, which is recognised in 27 countries around the world,” Mr De Gori said.

“This partnership is designed to offer choice and flexibility to financial planners and brings the education options in line with other professions, like accounting, who already embed designations into their academic programs.”