Existing Adviser Requirements
Existing Adviser Definition
Financial advisers are an ‘existing adviser’ if they:
- have been ‘current’ on ASIC’s Financial Advisers Register (FAR) at any time between 1 January 2016 and 1 January 2019; and
- were not prohibited from providing advice on 1 January 2019 (either through a banning/disqualification/ enforceable undertaking); or
- 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
- 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:
- Pass the exam by 1 January 2021.
- Complete an approved qualification by 1 January 2024.
- From 1 January 2019, meet continuing professional development requirements.
- 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
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.