Financial Adviser Standards and Ethics Authority

The Corporations Amendment (Professional Standards of Financial Advisers) Act 2017 established the Financial Adviser Standards and Ethics Authority (FASEA) in April 2017, to set the education, training and ethical standards of licensed financial advisers in Australia.

The new requirements commenced on 1 January 2019.

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New Entrants are required to hold an Approved Degree before they commence their Work and Training (Professional Year) requirement. They must be mid way through their Professional Year before they are eligible to sit the Financial Adviser exam and commence using the term Provisional Financial Adviser or Provisional Financial Planner.

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The annual requirement for 40 hours Continuous Professional Development commenced on 1 January 2019. Provisional Financial Advisers will be required to undertake CPD after completion of their Professional Year.

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Existing Advisers have until 1 January 2022, to pass the Financial Adviser Exam and until 1 January 2026, to reach an education standard equivalent to an Approved Degree.

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The Code of Ethics will commence on 1 January 2020, with all Financial Advisers required to adhere to the Code from that day onwards.

New Entrant

I would like to enter the financial advice industry and want to know where to start

Existing Adviser

I am an Existing Adviser and want to know what I need to do to meet the standards

Higher Education Providers

I am a Higher Education Provider looking to offer accredited courses

FASEA Standards

View details of FASEA’s standards for New Entrants and Existing Financial Advisers

FASEA provides remote October Exam sitting option for financial advisers in Melbourne due to Covid-19 restrictions

MEDIA RELEASE Following the reimposition of Stage 4 stay at home restrictions for metropolitan Melbourne and the continued closure of exam venues, FASEA advises that Melbourne metropolitan physical location exams will not be offered for...

FASEA confirms dates and venues for 2021 Exam sittings

MEDIA RELEASE FASEA confirms that, subject to COVID-19 restrictions, it will run six Financial Adviser exam sittings in 2021 in 31 locations across metropolitan and regional Australia.  Alternatively, advisers may elect to sit the Exam...

FASEA approves additional electives for the Securities Institute Graduate Diploma of Applied Finance and Investment

MEDIA RELEASE FASEA has today confirmed its approval of the following additional financial planning electives for the Securities Institute Graduate Diploma of Applied Finance and Investment (GDAFI) from 1991 until 2007: E114 Technical...

FASEA releases draft amendments to the Education Legislative Instrument

MEDIA RELEASE During the course of 2020 FASEA has announced the approval of a number of current degrees and bridging courses and the recognition of prior learning of advisers through the approval of historic degrees and awarding of credit...

FASEA approves University of New South Wales Graduate Diploma and bridging courses

MEDIA RELEASE FASEA has today confirmed the Graduate Diploma of Financial Planning for the University of New South Wales offered from 1 July 2019 as an approved degree. Advisers who complete this course of study will meet the education...

FASEA releases June Exam Results

MEDIA RELEASE FASEA today released exam results from the sixth Financial Advisers Exam held in June 2020. Result highlights include: due to COVID-19 restrictions, the exam was held online from 11 to 16 June 84 percent of candidates passed...

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The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.

 

 

The Financial Adviser Standards and Ethics Authority Limited was established in 2017 to set the education, training and ethical standards of financial advisers in Australia.