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
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
