The next sitting will take place from 12-16 May, with enrolments to open from 4 April and close on 26 April.
This will be followed by a sitting from 28 July to 1 August and finally the last for 2022 which will go ahead on 3 November.
The news comes after ASIC confirmed last year that during 2022, examinees sitting the first three exams could choose to sit the exam in an exam centre or through remote proctoring. From 1 October 2022, exams will only be available via remote proctoring.
In January, BT revealed that completing the exam was identified as the top priority for advisers in 2022.
“The implication, based on current law, is that these advisers will have been removed from the Financial Adviser Register as at 1 January 2022, and will no longer be able to provide personal advice to a retail client,” BT’s head of financial literacy and advocacy Bryan Ashenden said.
“It’s important to point out that they can still provide advice to wholesale clients, and help with running successful financial planning practices.
“Furthermore, whilst they cannot be the supervisor of a new entrant undertaking their professional year, they can still act as a mentor – and so advice practices can still benefit from these advisers’ experience and expertise,” he added.
We are and have always been an industry (not a profession yet) that always wants a carve out.
Too lazy to do the exam or thinking the rules would be changed and two and half years to do it.
This should have been black and white.
Finally we are at the cusp of being professional and advisers still want a hand out.
Can we stop pandering to the lowest common denominator an start looking after the majority who have passed and will make Financial Planning a profession.
We will never be “a Profession”, whilst Dealer Groups exist with their vertically integrated business models.
True. Nor will we be a profession when our so called “professional associations” still cling to their industry association past and refuse to reform.
The FPA to their credit has recommended the removal of AFSLs (and hence dealer groups) for financial advice. However until the FPA gets in own house in order, government and regulators will continue to ignore it.
The FPA must cease all relationships with corporates, limit its membership to individual practicing financial planners, and overturn the CFP grandfathering sham. Only then will there be any chance of the FPA being taken seriously as a professional association.
Anyone who didn’t pass the exam by December 21 should definitely not be advising clients.
Any “financial adviser” who cannot manage their own affairs and pass an exam within 2 years, definitely should not be “advising” anyone on their financial affairs.
FASEA was a chance to get rid of the duds but all we have done is make it easier for them to stay!
Why aren’t life companies getting behind new entrants AND older advisers and marrying them up in a mentor fashion? I retired in December and would gave been very interested in such an arrangement. After 36 years as a risk adviser you feel like you still have something to offer, even if the politicians, banking/insurance elites and special interest groups are eager to toss you aside because you haven’t passed some arbitrary, irrelevant and academically focused so-called laughing stock ‘ethics exam’. In retrospect I am so glad I left this quagmire of a once-great-industry but I already miss my clients.
When will they be announcing the final sitting dates for 2023?