A major insurer is now also moving into the adviser education space as the deadline for compliance with the Financial Adviser Standards and Ethics Authority's (FASEA's) regime draws nearer, with TAL offering a training course on the Code of Ethics.
Almost 500 advisers attended the first training course, run by TAL national technical manager, David Glen, showing the demand for greater resources and clarity around meeting FASEA’s requirements.
The TAL training focused on helping advisers fulfil their education requirements under FASEA, as well as prepare for the mandatory exam to be imposed by the Authority.
“Currently, there are very few resources available to support financial advisers in understanding the code of ethics and how it applies to their day-to-day business dealings and customer interactions,” TAL head of licensees and partnerships, Beau Riley, said.
“Through our TAL Risk Academy ethics course, we want to equip advisers with a solid understanding of the scope of the code of ethics and the procedures they need to put in place to ensure they adhere to the code and demonstrate their adherence to others.”
Under FASEA’s regime, advisers would have to complete nine Continuous Professional Development (CDP) hours in Professionalism and Ethics, as well as passing a section on ethics in the compulsory exam.