69% pass May FASEA exam
The May sitting of the Financial Adviser Standards and Ethics Authority (FASEA) exam has a seen a 69% pass rate – the same as the previous sitting in March.
Over 14,850 advisers have passed the adviser exams held to date representing 74% of advisers on the Australian Securities and Investments Commission’s (ASIC’s) Financial Adviser Register (FAR).
Overall, 89% of advisers who have sat the exam have passed and 1,918 unsuccessful candidates had re-sat the exam with 65% passing at a re-sit.
Around 74% of candidates sitting the exam for the first time passed the May exam (compared with an average of 82.4% across all exams).
The exam saw 1,894 advisers sit compared with an average of 1,437 across all exams.
Stephen Glenfield, FASEA chief executive, said: “Over 16,700 advisers have sat the exam with nine-in-10 demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.
“FASEA congratulates successful candidates on completing an important component of their education requirements under the Corporations Act."
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.
