FASEA exam rated challenging but fair
Those financial advisers who have sat the Financial Adviser Standards and Ethics Authority (FASEA) exam may have been sworn to secrecy about its nature and contents, but the bottom line appears to be that it is challenging but do-able.
The first two sittings of the exam were conducted last Thursday and yesterday (Monday) with feedback from those who sat it suggesting that it represented a tough but fair test of their knowledge.
A consistent theme appeared to be that the exam was not overly technical and demanded a broad rather than niche knowledge of advice.
Advisers sitting the exam have been obliged to enter into confidentiality arrangements around its content.
Recommended for you
It can be extremely hard to realise the gains from financial advice M&A, according to Peloton Partners’ Rob Jones, and more could be gained from firms looking inward at their own practice.
With platforms reporting their quarterly results, there is a clear divide in the adviser markets they are targeting, according to platform specialist Recep Peker, and which would be right for your clients.
The Federal Court has imposed a $10 million penalty on Macquarie Bank for failing to prevent and control unauthorised fee transactions by third parties including financial advisers.
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.