The newly re-elected Morrison Federal Government will be asked to act to give financial planners the promised full two years preparation time for the Financial Adviser Standards and Ethics Authority (FASEA) examination.
Both the Financial Planning Association (FPA) and the Association of Financial Advisers (AFA) have confirmed to Money Management that the FASEA timings were a priority issue which had been raised with the Government prior to the Federal Election and would be raised again.
Both FPA chief executive, Dante De Gori and AFA chief executive, Phil Kewin confirmed the importance of financial planners having the full two years preparation time which had been originally outlined by the Government.
De Gori said this was in circumstances where the processes and timeline which had been followed by FASEA meant that the time-frame being allowed to planners meant they were only going to get around 18 months preparation time.
The comments by De Gori and Kewin come less than a week after FASEA announced that both new entrants and existing advisers would have until 31 May to notify their intention to participate in the first sitting of the exam and outlined the dates and locations for the examinations.
Kewin said that when the matter had been raised with the Government prior to the election it had received a positive response, and that it would be looking to achieve greater clarity around the time-table.