Protection of the term Financial Planner/Financial Adviser
After over a decade of advocacy by the FPA, the use of the terms financial planner and financial adviser are restricted within the law to those authorised to provide financial advice and listed on the ASIC register.
To be listed on the Register an individual must meet the new education and experience standards, pass an exam, maintain CPD 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 Corporations Amendment (Professional Standards of Financial Advisers) Bill 2016 restricting the use of the terms was passed by parliament on 9 February 2017 and will commence on 1 January 2019.
We are always keen to hear your valuable feedback and suggestions. Please let us know if there are any policy issues or concerns that affect you.