{"id":40087,"date":"2018-03-06T22:20:55","date_gmt":"2018-03-06T11:20:55","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=40087"},"modified":"2018-03-11T15:40:58","modified_gmt":"2018-03-11T04:40:58","slug":"adviser-education-requirements-some-clarity","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2018\/03\/06\/adviser-education-requirements-some-clarity\/","title":{"rendered":"Adviser Education Requirements &#8211; Some Clarity?"},"content":{"rendered":"<div id=\"polls-196\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>This is my status leading into the new minimum Professional Standards regime:<\/strong><\/div><div id=\"polls-196-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>I expect I'll need to achieve additional professional\/tertiary qualifications to meet the new standards <small>(38%)<\/small><div class=\"pollbar\" style=\"width: 38%\" title=\"I expect I'll need to achieve additional professional\/tertiary qualifications to meet the new standards (38% | 159 Votes)\"><\/div><\/li>\n\t\t<li>I still have no idea what I'll be required to do! <small>(36%)<\/small><div class=\"pollbar\" style=\"width: 36%\" title=\"I still have no idea what I'll be required to do! (36% | 151 Votes)\"><\/div><\/li>\n\t\t<li>I'm degree qualified but expect I'll need to undertake bridging courses <small>(19%)<\/small><div class=\"pollbar\" style=\"width: 19%\" title=\"I'm degree qualified but expect I'll need to undertake bridging courses (19% | 77 Votes)\"><\/div><\/li>\n\t\t<li>I'm qualified in a relevant degree and am confident I will already meet the new minimum standards <small>(7%)<\/small><div class=\"pollbar\" style=\"width: 7%\" title=\"I'm qualified in a relevant degree and am confident I will already meet the new minimum standards (7% | 28 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_196_nonce\" name=\"wp-polls-nonce\" value=\"5011a01bac\" \/>\n<\/div>\n\n<p>In a rare second-week turnaround, our latest poll results suggests more advisers may now be developing a clearer picture of what their future minimum educational requirements will be.<\/p>\n<p><!--more-->After two weeks running our poll, the overall result can be seen above. If we split these results, however, there is a rare significant difference comparing adviser responses in weeks one and two.<\/p>\n<p>One reason for this difference may relate to industry activity and more adviser engagement on this critical issue. We initially released this poll on 21st February and during the course of its first week (where most votes were received in the first few days) the Association of Financial Advisers spoke to around 1,300 advisers in four states as part of its 2018 Connect Tour.<\/p>\n<p>The second-week poll results, which followed the completion of the AFA&#8217;s main roadshow series, delivered a much different result to the same question:<\/p>\n<figure id=\"attachment_40131\" aria-describedby=\"caption-attachment-40131\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-40131 size-full\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Pre-28.jpg?_t=1520335175\" alt=\"\" width=\"1200\" height=\"578\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Pre-28.jpg 1200w, https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Pre-28-300x145.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Pre-28-768x370.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Pre-28-1024x493.jpg 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-40131\" class=\"wp-caption-text\">Poll results to end of 27th February 2018 (week 1)&#8230;<\/figcaption><\/figure>\n<p>But the week 2 poll results delivered this outcome:<\/p>\n<figure id=\"attachment_40130\" aria-describedby=\"caption-attachment-40130\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-40130 size-full\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Post-28.jpg?_t=1520335208\" alt=\"\" width=\"1200\" height=\"578\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Post-28.jpg 1200w, https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Post-28-300x145.jpg 300w, https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Post-28-768x370.jpg 768w, https:\/\/riskinfo.com.au\/news\/files\/2018\/03\/Post-28-1024x493.jpg 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-40130\" class=\"wp-caption-text\">Poll results since 28th February 2018, following AFA Connect Roadshow Tour (week 2)&#8230;<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>One of the key presentations to advisers in all states except NSW was made by AFA GM Policy and Professionalism, <strong>Phil Anderson<\/strong>. Anderson outlined to his audiences an analysis of the current &#8216;state of play&#8217; on minimum education standards, including this chart:<\/p>\n<table style=\"padding: 10px !important;border: solid 1px #666 !important;margin-bottom: 20px !important\" border=\"1\" width=\"100%\" cellspacing=\"1\" cellpadding=\"10\">\n<tbody>\n<tr>\n<td width=\"33%\"><strong>Education Category<\/strong><\/td>\n<td width=\"33%\"><strong>What we Know<\/strong><\/td>\n<td width=\"33%\"><strong>Probable Action<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Financial Planning Education Council Approved Financial\u00a0 Planning Degree<\/td>\n<td width=\"202\">Already approved<\/td>\n<td width=\"201\">No Further Action Required<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Non-approved Financial\u00a0 Planning Degree<\/td>\n<td width=\"202\">Education Institutions can\u00a0 apply to FASEA for\u00a0 retrospective recognition<\/td>\n<td width=\"201\">Wait to see what happens,\u00a0 however contact your\u00a0 education provider to make\u00a0 sure that they are going to\u00a0 apply<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Relevant Degree\u00a0 (Commerce, Finance,\u00a0 Business, Accounting,\u00a0 Economics or Law)<\/td>\n<td width=\"202\">FASEA will make available\u00a0 bridging courses<\/td>\n<td width=\"201\">Wait to see the detail on the\u00a0 \u00a0bridging course options,\u00a0 \u00a0which is expected to be\u00a0 \u00a0noticeably less than doing the\u00a0 \u00a0full Graduate Diploma<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">Unrelated Degree (Arts,\u00a0 Science, Teaching etc)<\/td>\n<td width=\"202\">FASEA will make available\u00a0 bridging courses<\/td>\n<td width=\"201\">Wait to see the detail on the\u00a0 \u00a0bridging course options,\u00a0 \u00a0which\u00a0 is expected to be less\u00a0 \u00a0than doing the full Graduate\u00a0 \u00a0Diploma<\/td>\n<\/tr>\n<tr>\n<td width=\"198\">No Tertiary Qualifications<\/td>\n<td width=\"202\">FASEA have proposed an eight subject Graduate Diploma<\/td>\n<td width=\"201\">You can start now, however, it is probably better to wait until FASEA have approved some specific financial advice Graduate Diplomas<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>AFA members were also updated via email earlier in February, but it appears Anderson&#8217;s roadshow message may have had an impact, with many more advisers in the second week of our poll having a more definitive idea of where they&#8217;re positioned in relation to their future education requirements.<\/p>\n<p>The broader message to advisers from Anderson and the AFA is to wait a while longer. Anderson said he believed most advisers who would be required to undertake additional educational courses would be able to achieve that outcome. He encouraged AFA members and other advisers to wait to until the details on the nature of bridging courses were released before making any decisions about their future.<\/p>\n<p>Those details will probably emerge in the second half of 2018 because the <a href=\"https:\/\/fasea.gov.au\/\" target=\"_blank\" rel=\"noopener\">Financial Adviser Standards and Ethics Authority<\/a> will be consulting industry about its proposed standards until Friday 29 June.<\/p>\n<p>Meanwhile, we&#8217;ll continue this poll for one more week if you haven&#8217;t yet voted or if you would like to contribute to the ongoing debate on issues surrounding the new minimum Professional Standards regime&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a rare second-week turnaround, our latest poll results suggests more advisers may now be developing a clearer picture of what their future minimum educational requirements will be.<\/p>\n","protected":false},"author":3,"featured_media":40166,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,241,3,49],"tags":[4247],"class_list":["post-40087","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-conferences-and-events","category-general","category-polls","tag-feature"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/40087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=40087"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/40087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/40166"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=40087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=40087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=40087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}