{"id":65754,"date":"2023-05-16T13:43:37","date_gmt":"2023-05-16T02:43:37","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=65754"},"modified":"2024-10-30T08:40:33","modified_gmt":"2024-10-29T22:40:33","slug":"experienced-adviser-pathway-your-say","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/05\/16\/experienced-adviser-pathway-your-say\/","title":{"rendered":"Experienced Adviser Pathway &#8211; Your Say"},"content":{"rendered":"<div id=\"polls-302\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Which of these statements most closely reflects your position on the proposed Experienced Adviser Pathway?<\/strong><\/div><div id=\"polls-302-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>I support the Pathway as currently proposed. <small>(37%)<\/small><div class=\"pollbar\" style=\"width: 37%\" title=\"I support the Pathway as currently proposed. (37% | 67 Votes)\"><\/div><\/li>\n\t\t<li>I do not support the Experienced Pathway. <small>(21%)<\/small><div class=\"pollbar\" style=\"width: 21%\" title=\"I do not support the Experienced Pathway. (21% | 38 Votes)\"><\/div><\/li>\n\t\t<li>I will only support the Pathway if it includes both the sunset clause and the Code of Ethics unit. <small>(19%)<\/small><div class=\"pollbar\" style=\"width: 19%\" title=\"I will only support the Pathway if it includes both the sunset clause and the Code of Ethics unit. (19% | 35 Votes)\"><\/div><\/li>\n\t\t<li>I will only support the Pathway if it also includes a 10-year sunset clause. <small>(14%)<\/small><div class=\"pollbar\" style=\"width: 14%\" title=\"I will only support the Pathway if it also includes a 10-year sunset clause. (14% | 25 Votes)\"><\/div><\/li>\n\t\t<li>I will only support the Pathway if it includes the requirement to complete the Code of Ethics unit. <small>(7%)<\/small><div class=\"pollbar\" style=\"width: 7%\" title=\"I will only support the Pathway if it includes the requirement to complete the Code of Ethics unit. (7% | 12 Votes)\"><\/div><\/li>\n\t\t<li>I remain unsure. <small>(2%)<\/small><div class=\"pollbar\" style=\"width: 2%\" title=\"I remain unsure. (2% | 3 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_302_nonce\" name=\"wp-polls-nonce\" value=\"e5230fc918\" \/>\n<\/div>\n\n<p>The debate over the nature of the Government&#8217;s proposed Experienced Adviser Pathway forms the basis for our latest poll.<\/p>\n<p>As the Financial Advice Association continues its <a href=\"https:\/\/faaa.au\/2023-fpa-afa-united-association-roadshow\/\" target=\"_blank\" rel=\"noopener\">2023 United Association Roadshow<\/a> this week, both FAAA adviser members and the broader financial advice community are listening to and contributing to the debate around what constitutes a fair and reasonable solution where the intention is to better recognise experienced financial advisers of good standing.<\/p>\n<p>One of the key bones of contention for those opposing the wording of the <a href=\"https:\/\/treasury.gov.au\/consultation\/c2023-384538\" target=\"_blank\" rel=\"noopener\">exposure draft bill<\/a> for the Experienced Adviser Pathway relates to those advisers who have grasped the nettle to undertake the minimum education levels required under the former FASEA mandate, which involved significant commitments of time and money for many. &#8216;I&#8217;ve made the effort, so why shouldn&#8217;t the rest of my peers?&#8217;<\/p>\n<p>Also of concern for many is the potential perception that if the Experienced Adviser Pathway is implemented, not every practising adviser will be required to meet the minimum education standards previously imposed by FASEA, which may in turn generate trust issues among the public.<\/p>\n<p>To counter some of these concerns, the FAAA has proposed two amendments, which are:<\/p>\n<ul>\n<li>Applying a 10-year sunset clause, to avoid planners currently in their 30s to continue to practice indefinitely with no further qualifications required<\/li>\n<li>Requiring all advisers to have completed the Code of Ethics Graduate level subject introduced by FASEA<\/li>\n<\/ul>\n<p>According to the FAAA, its membership is evenly divided in its support for the Experienced Adviser Pathway in its current form, but this support grows to 70% if both the sunset clause and Code of Ethics subject requirement are incorporated into the legislation (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2023\/05\/09\/support-for-a-better-targeted-experienced-pathway\/\" target=\"_blank\" rel=\"noopener\">Support for a Better-targeted Experienced Pathway<\/a>).<\/p>\n<p>Where do you stand on this issue? Are you ok with the Government&#8217;s current wording, or would you only confer your support if one or both of the two proposed amendments are applied? Then again, perhaps you reject the Experienced Pathway proposal outright, and believe it should not be implemented at all.<\/p>\n<p>That&#8217;s enough from us for the time being. Tell us what you think and we&#8217;ll report back next week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The debate over the nature of the Government&#8217;s proposed Experienced Adviser Pathway forms the basis for our latest poll. As the Financial Advice Association continues its 2023 United Association Roadshow this week, both FAAA adviser members and the broader financial advice community are listening to and contributing to the debate around what constitutes a fair [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":65763,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,49],"tags":[],"class_list":{"0":"post-65754","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-associations","8":"category-compliance-regulation","9":"category-polls"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/65754","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=65754"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/65754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/65763"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=65754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=65754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=65754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}