FASEA exam advisers’ major area of concern
The wellbeing hotline set up by the Financial Planners Association (FPA) has not being utilised enough, according to FPA chief executive, Dante De Gori, with less than a couple of dozen calls in July.
Earlier in the year, the FPA launched a hotline for members to use if they were stressed or concerned.
“There was a lot of talk that had been raised over the concerns, but the usage of the services like the hotlines are not as great as we’d thought they’d be,” De Gori said.
“We did think there would be a larger uptake, but that could be for a number of reasons.”
“In the month of July we’ve had 17 – we have a membership base of 14,000 – and 17 people have used our confidential hotline.”
Because of this, De Gori said they don’t have the data to back up the concerns from financial planners directly, but it also doesn’t mean those concerns aren’t there.
He said most of the calls were from those concerned or anxious about the clarity of information.
“The exam that was launched with the first round in June, has been the greatest source of calls and emails from members,” De Gori said.
“There’s a lot of anxiety from people who have never sat an exam or it’s been decades since sitting an exam, and this is for something there future and livelihood depends on.”
AUTHOR
Chris Dastoor
Recommended for you
Compared to four years ago when the divide between boutique and large licensees were largely equal, adviser movements have seen this trend shift in light of new licensees commencing.
As ongoing market uncertainty sees advisers look beyond traditional equity exposure, Fidante has found adviser interest in small caps and emerging markets for portfolio returns has almost doubled since April.
CoreData has shared the top areas of demand for cryptocurrency advice but finds investors are seeking advisers who actively invest in the asset themselves.
With regulators ‘raising the bar’ on retirement planning, Lonsec Research and Ratings has urged advisers to place greater focus on sequencing and longevity risk as they navigate clients through the shifting landscape.
