FASEA have announced that registrations are now open until 31 May 2019 for financial advisers to notify their intention to sit the FASEA exam.
What you need to know
The exam will be available to new entrants and existing advisers between 20 June 2019 and 24 June 2019.
Subsequent exam sittings in 2019 will be in September and December.
Further subsequent exam sittings will be held in 2020 during February, April, June, August, October and December.
||Exams will be held across Australia in nine locations: Sydney, Canberra, Brisbane, Townsville, Melbourne, Adelaide, Perth, Darwin and Hobart.
|Preparing for the exam
||FASEA has released guidance to help prepare for the exam, which includes detail on the curriculum, reading list and practice questions.
|How to register
||You can register to sit for the exam via the FASEA website.
Support for FPA members
To help you stay up to speed, we’re already working on updates to FPA Return to Learn to include the new information from FASEA. Return to Learn is your online education hub bringing together what you need to know to be FASEA compliant.
We know that for many of you it may have been a while since you prepared for and sat an exam, so you’ll find lots of tips and resources to help you get ready on Return to Learn.
We’re also reviewing the FASEA exam preparation guidance and we’ll provide further insights on the topics and areas of the exam shortly.
For further details on the FASEA exam announcement, please refer to the FASEA website.
The Financial Adviser Standards and Ethics Authority (FASEA) has set the following standards for financial planners:
- Code of Ethics – commencement 1 January 2020
- Degrees, Qualifications and Courses Standard
- New financial planners must meet the relevant requirements of this standard from 1 January 2019
- Existing financial planners (as at 30 December 2018) must meet the relevant requirements set in this standard by 1 January 2024
- Foreign Qualifications Policy – financial planners who are relying on completed foreign qualifications to meet the education standard, must follow the process set in this standard.
- Examination Standard
- New financial planners must pass the exam before commencing quarter 3 of their Professional Year
- Existing financial planners must have passed the exam by 1 January 2021
- Continuing Professional Development Standard – This standard applies from the commencement of the licensee’s CPD year during 2019. FPA members should also continue to meet our CPD obligations.
- Work and Training (Professional Year) Standard –
- From 1 January 2019, all new financial planners must meet this standard before being authorised to provide financial advice to retail clients. New financial planners must meet the education standard requirements prior to commencing their professional year.
- This standard sets requirements for existing financial planners who are supervisors of new financial planners undertaking their professional year.
- Provisional Relevant Provider Expression – From 1 January 2019, new financial planners who have met the course requirements and are undertaking their professional year, may use the terms “Provisional Financial Adviser” or “Provisional Financial Planner”
We are always keen to hear your valuable feedback and suggestions. Please let us know if there are issues or concerns that affect you.