84% of advisers pass FASEA June exam
The Financial Adviser and Ethics Authority (FASEA) has released the results for June exam with 84% of candidates passing.
This compared to 79% in April, which was the first remotely held FASEA exam due to the COVID-19 pandemic, with over 2,200 advisers sitting the June exam compared to 470 in April.
Overall, 85% of advisers who had sat the exam had passed, which represented 40% of advisers in the Australian Securities and Investments Commission (ASIC) Financial Adviser Register (FAR).
Over 1,600 advisers had registered for the August exam, which would be held on 13-18 August, with only Melbourne sitting being held online.
Registration was open for the October exam which would be held on 8-13 October, and the November exam would be held on 5-10 November.
Subject to COVID-19 restrictions the exams would be offered in physical locations as well as online.
Stephen Glenfield, FASEA chief executive, said: “FASEA is pleased to present the outcomes of the sixth exam and congratulates successful candidates on completing an important component of their education requirements under the Corporations Act during the current extraordinary circumstances.
“Over 10,000 advisers have sat the exam with close to nine-in-10 demonstrating they have the skill to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.”
Recommended for you
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
Sequoia Financial Group has seen a top-level reshuffle as the chair of the board, John Larsen, steps down after five years in the position.
As statements of advice move into the rear-view mirror, Vital Business Partners explores how financial advisers are adopting innovative documentation strategies.
Adviser Ratings has explored whether there is a financial benefit to advice firms seeking to have a specialised client base in terms of client assets and fees charged.
