Fair point, sorry to hear you've been through all that. I don't think any of us should have to have sat this exam to keep out jobs.

You Still do not get it

We aren't saying it to be mean. But realistically, what was the point of the exam then? We all stressed about it and studied hard. And the goal posts have moved (again) after we've completed it. It's not that I don't have sympathy to those that haven't passed...but realistically, they've now had over two years (is it 6+ opportunities to sit and pass the exam now??). As I said in my earlier post, under extenuating circumstances, there should perhaps be an exemption process, but a blanket extension??? I don't think that's sensible at this point.

This is not a fair assessment, as there are those of us who do not cope well in an exam situation. I have sat the exam and I felt very stressed during it (even cried during the process as I felt very overwhelmed), still awaiting results but don't feel confident. Even as a highly competent and compliant adviser having been in the advice industry for over 20 years and highly compliant, I feel that this is unfair that we have to sit an exam to continue practicing and helping the clients that we love.

Then none of us should have had to do it....if it's not the appropriate benchmark for a "good adviser"...we all stressed and studied with this deadline looming!

Hypocrisy is the order of the day.
Pollies and ASIC forcing FASEA study and ethics on Advisers but not themselves.
Pollies and ASIC forcing multiple FDS Optins on Real Advisers but not Intra Fund Advice / sales.

some people have trouble doing exams for one reason or another and are still really wonderful financial planners. You can’t put everyone in the same boat.

quote=Anonymous]This is a kick in the guts to those of us who got onto it early. If people have had numerous attempts and have been unable to pass, they should ask themselves if this is the right career for them. If people have left it this late in the game to even have a first attempt (short of extenuating circumstances such as illness), they shouldn't be receiving an extension.... [/quote]

Agree with you- you just lose faith in regulators when they keep crying wolf and then keep compromising - what next? ... if you have 3 failed attempts and are 5 years from retirement you can keep practicing?

Is it the 1st of April !!!!!!!!!!!!!!!!!!

Why dont you mean speaking so called advisers have some compassion to those that have needed a few attempts to pass. There may be valid reasons and they may have more experience than yourselves. Be constructive.

Peter Johnston is right on the money here. It is utter stupidity borne out of a desire to punish financial advisers for the transgressions shown in the Royal Commission.

The legislation works. It is making the life of financial advisers an expensive and distracting misery.

However, it is the same as if we asked doctors to work with one hand tied behind their back - they could see many fewer people and would do a worse job, harming the clients.

The same is happening here. Distracted and needlessly occupied advisers have to charge their clients more and let more clients go and many have left insurance advice altogether.

It is not the government's fault. It is the demand for revenge expertly fanned by the Royal Commission and caused by the product providers' greed and the advisers' acquiescence to the compromised position they allowed, so that the Australian public is now cutting off its nose to spite its face.

Hume is incorrectly assuming people are like her ie “a high level of contemptuous stupidity”.

At least there are some reasonable people here... Absolutely correct mate

Senator Hume, do you not know yet that the only "invisible" fees are those charged by Industry Super Funds? My clients have not had "invisible" fees for over 20 years. None of them are in Industry Super Funds. Don't keep repeating the mantra (whether straight out or by implication) that advisers are thieves and cheats. We are NOT. Don't keep treating advisers as big bad bogies (or chickens in the hen house). We are NOT. Stop attacking the very people who are doing their damnedest despite the barriers being placed in their way to just give their clients the very best advice available. Look beyond the Hayne Royal Farce, beyond the media trial of a very few rogue advisers, and see the great work that is being done, by increasingly fewer conscientious advisers. In other words, GET REAL Senator Hume.

Yes!!!

what a mean thing to say about your colleagues. Most advisers have a degree of empathy, clearly you dont.

Sowing division. I wonder why.

Does this mean that a existing adviser will not be deregistered on the 1st Jan 2022

This is a kick in the guts to those of us who got onto it early. If people have had numerous attempts and have been unable to pass, they should ask themselves if this is the right career for them. If people have left it this late in the game to even have a first attempt (short of extenuating circumstances such as illness), they shouldn't be receiving an extension....

Simply unbelievable. I'm so glad I made the effort to do it in the time allotted.