Existing Adviser Requirements

Existing Adviser Definition

Financial advisers are an ‘existing adviser’ if they:

  1. have been ‘current’ on ASIC’s Financial Advisers Register (FAR) at any time between 1 January 2016 and 1 January 2019; and
  2. were not prohibited from providing advice on 1 January 2019 (either through a banning/disqualification/ enforceable undertaking); or
  3. at any time between 1 January 2016 and 1 January 2019, they provided personal advice in a foreign country to retail clients in relation to relevant financial products; and
  4. are not prohibited under the law of the foreign country from providing such advice on 1 January 2019.

If a person is an ‘existing adviser’, they will need to meet the following requirements:

  1. Pass the exam by 1 January 2021.
  2. Complete an approved qualification by 1 January 2024.
  3. From 1 January 2019, meet continuing professional development requirements.
  4. From 1 January 2020 comply with FASEA’s Code of Ethics.

Education Pathways

Education requirements

Continuing Professional Development

Annual CPD requirements
effective 1 January 2019

Code of Ethics

From Comply with the Code from 1 January 2020

Exam

One-off Exam requirement

FAQs

Existing adviser Frequently Asked Questions

FASEA approves additional Recognition of Prior Learning and Bridging courses

Recognition of Prior Learning – AFA and SAFAA The Standards Authority has approved applications for the recognition of coursework to attain a professional designation from the Australian Financial Advisers (AFA) and Stockbrokers and...

FASEA releases 2020 Legislative Instrument for Relevant Providers Degrees, Qualifications and Courses Standard

FASEA has registered the 2020 Legislative Instrument and Explanatory Statement for its Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2020 on the Federal Register of Legislation. This new...

FASEA releases December Exam Results

FASEA today released exam results from the third Financial Advisers Exam held in December 2019. Result highlights include: the exam was held in 8 metropolitan and 11 regional centres across Australia from 5 December to 11 December 2981...

FASEA Director Resignation – Ms Catriona Lowe

The Financial Adviser Standards and Ethics Authority confirms the resignation of Catriona Lowe as a director of the Standards Authority, effective January 31 2020. Catriona has been appointed to a full-time role as a State/Territory...

FASEA RELEASES PRELIMINARY RESPONSE TO SUBMISSIONS ON THE CODE OF ETHICS GUIDANCE

MEDIA RELEASE FASEA released FG002 Financial Planners and Advisers Code of Ethics 2019 Guidance document (the guidance) on the 18th October 2019. During November 2019 and December 2019, FASEA undertook broad stakeholder consultation on...

FASEA Welcomes New Director

MEDIA RELEASE The Financial Adviser Standards and Ethics Authority (FASEA) notes the Government’s announcement of the appointment of Will Hamilton to the Board effective 9 December 2019. On behalf of the FASEA Board, Chair Catherine...

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.