FASEA gives first guidance
In what represents some of its earliest guidance to the financial planning industry the Financial Adviser Standards and Ethics Authority (FASEA) has confirmed the nature of the degree pathway which will apply to new entrants from January, 2019.
The board resolved that the pathway would entail an AQF Bachelor degree covering fields that include ethics, professional attitudes and behaviours, financial planning and advice process and technical requirements.
It said this would entail up to 24 courses of which 12 would be core.
It said that career changers would be expected to pursue further pathways at the post-graduate level covering the same fields.
Commenting on the announcement, FACEA chair, Catherine Walter said that in the first instance, and to provide direction for employers, education providers and standards, the authority would be adopting the Financial Planning Education Council framework.
Recommended for you
The new financial year has got off to a strong start in adviser gains, helped by new entrants, after heavy losses sustained in June.
Michael McCorry, chief investment officer at BlackRock Australia, has detailed how investors are reconsidering their 60/40 portfolios as macro uncertainty highlight the benefits of liquid alternatives.
Having reset its market focus to high-net-worth advisers, Praemium’s administration solution has been selected by Bell Potter in a deal that increases the platform's funds under administration by $6 billion.
High transition rates from financial advisers have helped Netwealth’s funds under administration rise by $3.7 billion in the fourth quarter of FY25.
