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
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
