I had an idea for a F&D campaign where the PCs are the students of a very old master that frequently sends them out on various missions into the galaxy. These range from meeting with Black Market contacts to tomb raiding to delving deep into forgotten temples, all with the goal of bringing back some relic to the master. Whenever the PCs bring back a holocron, text, or whatever he spends time training each of them individually. In game terms that basically means that they get an XP discount after every mission, so long as what they are spending the XP on is something that he could reasonably train them in.

Unusually for me this campaign wouldn't have an overarching story, more of an episodic layout than a three act layout. While I could easily see this working for AoR and to an extent EotE, I'm not yet sure how much F&D lends itself to an episodic format. Has anyone run a F&D game that didn't have a big bad or any of the stereotypical layouts?

As a final note: this mentor is irreverent to the whole Jedi/Sith and light/dark dichotomies, all he cares about is learning new things. He claims to have forgotten his birth name but tells the PCs that they are to call him Occlus.

I don't think there is anything specifically about FaD that necessitates an overarching campaign as opposed to a more episodic format. It is going to be down to whether or not your group wants that format, and to what extent. It really is the same idea as running a mission by mission AoR game, some players will enjoy that and others would prefer something with a more progressive story line.

Force and Destiny should work fine in an episodic fashion. You shouldn't encounter any mechanical or thematic problems.