FASEA Poll Results

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Do you think FASEA's qualification requirements for existing advisers are fair and reasonable?
  • No (76%)
  • Yes (19%)
  • Not sure (5%)

Advisers have generally rejected the notion that FASEA’s proposed qualification requirements for existing practitioners are fair and reasonable, despite apparent concessions to industry course work already undertaken.

This poll was released following Assistant Treasurer, Stuart Robert’s comments at the 2018 AFA National Adviser Conference relating to credits for prior learning/course work (see: Latest Poll…). Notwithstanding the Minister’s comments acknowledging credits will be applied for Advanced Diploma in Financial Planning and CFP/FChFP course work, two key outcomes have emerged:

  1. These concessions do not translate into acceptance by most advisers that the minimum qualifications proposed by FASEA are now fair and reasonable. As we go to print, 70 percent think the minimum qualifications are not fair and reasonable.
  2. There remain unanswered questions about whether any cut-off date applies to ADFP studies – and if there is a cut-off, what that cut-off date may be.

While the Minister indicated FASEA would be making futher announcements in a matter of weeks regarding future minimum qualifications for existing advisers, Riskinfo continues to seek clarity around the circumstances attaching to what prior learning, especially relating to ADFP studies, will (or will not) be granted credits under the proposed new regime.

In the meantime, we welcome your vote in this poll – given what you know today, and will stay in touch with you as this critical narrative unfolds in the coming weeks…



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2 COMMENTS

  1. There should be a correlation between prior learning and experience.

    The intellectual elite who have made their living from education ( though sadly for many of them, they have never made it past the theoretical world and attained REAL world experience ) are always going to push their barrow for higher education, that is how they get paid.

    The reason why literacy and numeracy levels in Australia are declining, is the Education elites do not listen, or get some practical experience to find the cause, instead they continue with their outdated mantra that their theory, works.

    The easy way for a theorist to be toppled, is to challenge their thinking and demand hard facts to back up their theory, which can show their model is like a house built on sand with insufficient footings.

    The whole FASEA fiasco, is controlled by and the agenda set by, theorists.

    Why would they want to listen to experienced practitioners at the coal face, when clearly the way forward, is more theoretical study that feathers their own nests.

    • Spot on Jeremy. The so called ‘Educators’ aren’t teaching the old dog any new tricks, as the old dog, in most cases, will know far more than the educator due to their current education and most importantly their experience dealing with real life clients day in and day out. It is nothing more than a money grab, pure and simple. Also a good way for the government to keep the employment numbers looking good, as more ‘educators’ may need to be found and yet another level of tax hauling for them. And who pays for all of this? A combination of advisers and clients. It is farcical.

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