Ethics Centre develops FASEA accredited ethics course for financial advisers

14 May 2019

The Ethics Centre has announced it is developing new Financial Adviser Standards and Ethics Authority (FASEA) accredited ethics course for financial advisers.

Both the pilot ethics and professionalism bridging course would be delivered in conjunction with an Australian university in late 2019, the organisation said, and they would aim to support advice practices in integrating the FASEA reforms into their operations.

All expressions of interest from higher-education providers to facilitate the course after the pilot is complete would be welcomed, the Ethics Centre said.

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The Ethics centre’s executive director, Simon Longstaff, stressed that the aim for the pilot course was to set the benchmark for ethics education for the financial advice community.

“Financial advisers should be encouraged to offer a competitive professional service in all areas but one – their ethics,” he said.

“The ideal is for this emerging profession to have a common ethical foundation, enriched by a common understanding informed by a common set of educational experiences.

“Our hope is that this new course will be widely embraced across the profession – for the good of society and the clients it serves.”

The story has been updated and amended to reflect the clarification from The Ethics Centre that their courses are under development and yet approved.

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Im waiting for Eithics courses to be rolled out to all Prisons within Australia, because apparently if you do an eithics course you will never offend again. Do they really think a course is going to stop unethical people doing as they do?

Yep. Remember our politicians and lawyers and educators understand the criminal mind.

Nice little earner - being of the FASEA board.

Surely its not ethical to sit on a government appointed board and run a outside company that benefits directly from that boards decisions?

Conflict of Interest? Is that "ethical?"

Surely not...many of the Fasea Board Members are participating in a "Conflict of Interest"...which should see them terminated from their position...

So how did is this the only Ethics Course that is FASEA accredited yet no announcement by FASEA? I hope a please explain is issued by FASEA and a press release similar to 22 June 2018 rebuking this claim. PS New FASEA website looks magnificent & a great use of resources & priority

I'm sure the gentleman stepped out of the board meeting for 3 minutes while this was discussed and approved. Nothing to see here.....

Now wouldn't that be "interesting" if the university they've partnered with is Griffith, given Dr Mark Brimble is also on the FASEA Board?

We all suspected FASEA created this superfluous educational requirement, which exceeds its mandate, so one of the board members could profit from his position on the board. Now it is here in black and white. What really makes me angry, is that the mainstream media will soon pick up on this bizarre, unethical and hypocritical conduct and the organisation which was supposed to raise the public standing of our profession, will become a laughing stock. The hard working men and women who do wonderful work as financial planners in the community, have endured enough. This is beyond the pale.

Do you think Fasea meets these definition of Corruption and Transparency ?

They have no credibility to make decisions, which impact thousands and will cost millions (which only benefit them)

Good one Conflicted. I just had a look at the website. In less than ten seconds, I found this quote:

HOW DO YOU DEFINE CORRUPTION? - Generally speaking as “the abuse of entrusted power for private gain"

Says it all.

not quite, because you have to prove they abused the power. And this is where the ethics of those coaching ethics slips into the murky grey. Because ethics is subjective. So people can justify their way through ethical dilemna in all sorts of creative ways. Hence it's a waste of time because decent people know what the smell test is, we don't need to be lectured on it, and it doesn't mean we won't always pass it ourselves, we are humans.

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