Continuing Professional Development Standard

The Continuing Professional Development Standard commenced on 1 January 2019. From this date all Financial Advisers are required to participate in development programs and activities that ensure they maintain and extend their professional capabilities, knowledge and skills including keeping up to date with all regulatory, technical and other developments relevant to professional financial advice.

Financial advisers are required to complete 40 hours of CPD each year of which 70% must be approved by their licensee (including a maximum 4 hours of professional reading). The minimum hours for CPD across the mandatory categories are:

  • Technical – 5 hours
  • Client Care and Practice – 5 hours
  • Regulatory Compliance and Consumer Protection – 5 hours and
  • Professionalism and Ethics – 9 hours

The balance up to 40 hours must consist of qualifying CPD.

Transition arrangements for 2019 will be on a pro-rata basis for licensees whose CPD year does not commence on 1 January 2019.

FASEA provides relief for advisers whose ability to complete CPD requirements has been impacted by COVID-19. Advisers have been granted an additional 3 months to meet the 40-hour CPD requirement as a one-off recognition of difficulties faced this year.  Refer to CPD Relief Legislative Instrument below. 

CPD Policy

CPD Requirements

CPD Log Book template

Guide to a CPD Log book template

CPD Legislative Instrument & Explanatory Statement

CPD Relief Legislative Instrument & Explanatory Statement

CPD 3-month Relief

FAQ’s

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...

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.