Protection of the term Financial Planner/Financial Adviser
After years of advocacy by the FPA, the government has committed to restricting use of the terms financial planner/adviser to those listed on the ASIC Financial Adviser Register. To be listed on the Register an individual must meet the new education and experience standards, pass an exam, and adhere to a Code of Conduct.
This is a major leap forward for consumer protection and the future of the financial planning profession. The commitment was made by the Assistant Treasurer in the government’s response to the Financial System Inquiry (FSI).
Draft legislation to protect the terms within the Corporations Act was included with the Education and Professional Standards package.
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