Will the proposed FASEA extensions have a positive impact on your plans for the future of your advice business?
- Yes (53%)
- No (36%)
- Not sure (10%)
Our latest poll asks you to consider the impact of the proposed FASEA time extensions on your business.
Announced (eventually!) at last week’s AFA Conference, the extensions, which must still be passed by both Houses of Parliament, will now require advisers to:
- Complete the FASEA-approved exam by 1 January 2022 (one additional year)
- Meet FASEA’s qualification requirements by 1 January 2026 (two additional years)
To what extent will these concessions have an impact on you and your advice business? Will it offer you the breathing space you need to pass the exam and achieve your minimum education qualifications while still managing to operate your business as well as maintain a life outside your business?
If so, we presume this will be a positive development for you and for your business in what – for many – is a particularly difficult transition period, given the volume and scope of recent regulatory reforms imposed on the advice sector.
We appreciate the underlying opposition from many advisers to the FASEA exam and the new minimum education standards, but given there appears to be no turning back, will these time extensions make a difference for you?
Let us know what you think and we’ll report back next week…