- Yes – it will be a relief to have the additional time (81%)
- No – the extra time won’t make any difference to me (16%)
- Not sure yet (3%)
Advisers appear to be breathing a huge sigh of relief at the expected Senate support for extensions to the FASEA adviser exam and qualification requirements.
In late April the AFA reassured its members the intended extensions to the time-frames for advisers to undertake the exam and complete new minimum education standards will be passed by the Senate this year. (See: AFA reports Bipartisan Confirmation on FASEA Extensions).
A significant 82 percent of participants in our latest poll agree it will be a relief to have the additional time, while only 15 percent say the extra time won’t make any difference to them.
A mere three percent were not sure as yet.
Once the new requirements have been legislated, as is expected, advisers who were registered on ASIC’s Financial Adviser Register on 1 January 2019 will now have an extra year to pass the exam (by 1 January 2022) and an extra two years to complete their required studies (by 1 January 2026).
