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
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
