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
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
