Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Advisers should study beyond FASEA requirements

FASEA/advisers/Kaplan/

6 August 2021
| By Chris Dastoor |
image
image image
expand image

Advisers should study beyond the Financial Adviser Standard and Ethics Authority (FASEA) requirements to capitalise on the predicted increased demand of financial advice. 

Luke Knight, Kaplan head of corporate sales, said the education provider encouraged advisers to continue to study beyond their FASEA requirements.  

“This is a current gap in the industry which we think can only be addressed by those who understand and practice with the right qualifications to support the growth and continuity of the industry,” Knight said. 

“It’s [Kaplan’s] opinion that advisers who meet the education sooner and progress beyond it would be positioned to capitalise on the predicted economic upswing in a post-COVID environment, while also being able to make the most of opportunities afforded by the increased demand for financial advice.” 

When it came to study load, Knight said it was most common to see working professionals complete three subjects a year over four years. 

“It’s the ideal time for advisers to build up momentum towards meeting the FASEA education standard,” Knight said. 

“Yes, there’s a fair bit of time to the end of 2025, but it will creep up and we don’t want to sit around waiting until the very end and try to cram in subjects whilst manging businesses.” 

The most popular course taken up was the ethics component, likely to help candidates prepare for the FASEA exam. 

“From the data we have, there is quite of a lot of advisers that have now passed the industry exam plus have completed [the] ethics [subject],” Knight said. 

“A lot of advisers use the ethics [subject] as an exam preparation tool for the industry exam, which was a really great approach.”  

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

2 weeks 6 days ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

3 weeks 6 days ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 1 day ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

3 weeks 4 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

6 days 21 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND