- Yes (59%)
- No (36%)
- Not sure (5%)
Our latest poll seeks your view on the Government’s proposed 10-Year ‘Experience’ Pathway, which was announced last week (see: ‘Experience Pathway’ Proposed…)
Since the Government’s announcement that it would consult with the sector around its proposed experience pathway, there appear to have been two distinct reactions from the adviser community.
Some advisers and other industry stakeholders support the move to offer the experience pathway for 10-year advisers of good standing as a way to stem the current and future exodus of advisers from the sector, which in turn would mean more Australians, especially those represented in the ‘mums and dads’ demographic, would have access to the financial advice that would make such a difference for many.
Elsewhere, another group of advisers is disappointed with what they consider to be a retrograde step in the pathway to establishing financial advice as a profession in the mind of the consumers they serve. This group of advisers considers the establishment of an experience pathway would also be a retrograde move in terms of rebuilding trust in financial advice and financial advisers following the fallout from the Global Financial Crisis and the revelations aired during the Financial Services Royal Commission.
Neither of these perspectives is right or wrong. Rather, they represent valid points of view held by many advisers.
Which side of the coin represents your own view? Are you in favour of the creation of an experience pathway for 10-year advisers of good standing? Should this pathway have always been included by FASEA when it was developing its minimum education standards?
Or do you hold that introducing the experience pathway will only delay the achievement of ‘professional’ status’ for the sector – not just in the view of those within the industry (or profession) but also in the mind of those who advisers seek to serve?
Tell us what you think and we’ll report back in the New Year…