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 education credits for CIMA and CFA coursework to attain a Professional Designation

MEDIA RELEASE The Standards Authority has approved applications for the recognition of coursework to attain a professional designation from the Portfolio Construction Forum and CFA Societies Australia as part of its education standards...

FASEA Approves Three Bridging Courses for Queensland University of Technology

MEDIA RELEASE FASEA has today confirmed its approval of three bridging courses for Queensland University of Technology. The bridging courses are available for existing advisers to meet the Education Standard. FASEA’s review of the courses...

FASEA releases June Exam Results

MEDIA RELEASE FASEA today released exam results from the inaugural Financial Advisers Exam. Result highlights include: the exam was held in nine centres across Australia from 20 June to 24 June 579 advisers sat the exam the exam was...

FASEA announces regional locations for December exam sitting

MEDIA RELEASE FASEA has confirmed 10 regional locations for the December exam sitting to provide advisers across Australia with opportunities to sit the exam at many geographical locations. In addition to the 8 metropolitan locations...

Update from FASEA on the Financial Adviser Examination

MEDIA RELEASE FASEA has been working with ACER to ensure the exam registration process is streamlined, accessible and effective and exam sitting opportunities are optimised. Marking and Results of June Exam Results for the inaugural FASEA...

FASEA approves education credits for CPA and CAANZ coursework to attain a Professional Designation

MEDIA RELEASE The Standards Authority has today approved applications for the recognition of coursework to attain a professional designation from the Certified Practicing Accountants (CPA) and Chartered Accountants Australia and New...

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.