Exactly correct. The fact that FASEA cannot provide a definitive list of the 24 units required by a new intern, is a disgrace. We have several now wanting to transfer across from the Finance & Accounting program, but it is simply impossible to guide them currently on this.
Existing advisers should have an extended time, but be required to do 1 unit per year, until completed. That may take 6 to 8 years from 2019.
In relation to exams, providing your statement of advice meets ASIC requirements & you have full backup from a top rate Tech Services Dept, and exam proves very little in providing top advice to clients. You could pass your exam & still get locked up for criminal behaviour. The way all of this regulation against advisers is going, it has crossed my mind to take a case to the High Court on a range of basic discrimination issues & unnecessary administrative costs that these regulations impose. Its high time advisers took up the fight against forces that are attempting to build a monopoly for certain fund providers. Their real game is to eliminate advisers, and when that has been achieved, watch them ramp up the fees on fund members.
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