The 2022 Financial Adviser Standards and Ethics Authority (FASEA) exam extension will apply to only a few eligible advisers and Senator Jane Hume is encouraging advisers to sign up for the November exam.
The minister for financial services, superannuation and the digital economy, Senator Jane Hume, said: “The financial advice industry has been on an extraordinary journey over the last few years, striding toward professionalisation and removing some from the industry that gave many terrific planners a poor name.
“Over 16,800 advisers have passed the FASEA exam to date. For those who have yet to do so, the last opportunity in 2021 to register is fast approaching.”
The November exam would be held on 11 to 16 November and registrations would close today.
“Please note there is no extension. For those who have made a legitimate effort, and attempted the exam at least twice, there will be limited opportunity to attempt the exam again in 2022. But this is a very limited option for a small number of people,” Hume said.
“Thank you to the industry for your partnership on this journey. I appreciate this has been a challenging transition.
“But I know for so many of you, it has also been a source of pride. High quality, accessible and affordable financial advice is vital for Australian prosperity.”
Comments
"Please note there is no extension" said Hume, before going on to outline yet another extension.
Was this woman born a pathological liar? Does she have absolutely zero awareness of what she is saying? From her "Single Disciplinary Body" which is actually one of a multitude of disciplinary bodies, to her "harmless Tik Tok financial advice" which is actually incredibly harmful in many cases, she seems to really struggle with the concept of truth.
Get lost Jane. You have decimated our profession, and left financial advice out of the reach of ordinary australians. It is not a source of pride that we have passed an exam that we should never had had to take in the first place! It is more ignorance on your part that the 'entrance' exam is totally prejudiced against risk advisors, good advisors that we NEED to stay around - but who have no hope of passing the exam even on third time around. I'm smart, really smart, and I found this to be one of the most confusing, ambiguous and therefore hardest exams I have ever had to sit in my life! Imagine the risk advisors going through the same experience when more than half of what is examined is not even relevant to them. Shame on you Jane! Yes "High quality, accessible and affordable financial advice is vital for Australian prosperity.” So why are you doing your damndest to jeaoparise that?????
I think that's a bit harsh. Senator Hume is doing a good job, along with several other senior government and public servants are trying to improve the public image of financial planner from the train wreck that financial planners created from poor advice. Professional financial planners passed the FASEA exam early with little issue, hence the high pass rate from an exam that is rather easy. Australians who need financial advice and see the value in it will still seek it. No different from the past.
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