Time running out for unregistered planners
Financial planners and advisers who are not yet registered with the Tax Practitioners Board (TPB) that provide financial tax advice are running out of time and will not be able to take advantage of the transitional registration after the end of the financial year.
TPB chair, Ian Taylor, said all Australian financial services licensees, authorised representatives, corporate authorised representatives, and defined employee representatives could choose the option of a transitional registration, which would then allow extra time to satisfy requirements.
"To register under the transitional option you must have sufficient experience to be able to provide tax (financial) advice services to a competent standard — which is generally the equivalent of 18 months or longer of full-time experience," he said.
"If you wish to take advantage of the transitional registration option, it is only available until 30 June this year. After this time all registrations and renewals will need to meet the standard registration requirements."
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
