If they change the rules, can they refund me for the 8 subjects I have paid for, and those of my advice team our business has also funded.
This is absolute bull dust, we have all had plenty of time to do what is required, and if u have left it till now, it should be too late.,

Actually it has been more than 3 years since the first exam sitting.

If you have not yet passed the FASEA examination then you should not be advising the public. That is self evident.

Well said. It is time to get on with making the industry a profession. This involves increasing education and showing that we understand the ethics standards our clients expect of us. The delays and potential for changes (never promised) are causing the stress. Just do it

Absolutely right! And the industry groups fighting against the needed requirements, just to maintain membership numbers, need to show respect for the industry, and public, and tell those advisers who are refusing to do the exam or aren't able to pass to leave the industry. Lobbying for something that is wrong degrades their "industry association" status.

You are the type of person the industry, and the public, needs.
I just don't understand, nor respect, the advisers who haven't simply got on with the job and are foolishly waiting for the next grandfathering clause.

If the Government does a backflip, then a class action should be started to compensate advisers like myself who spent over $15k + lost revenue

How many more deferrals do we need Peter Johnston? We have had so long already….I’ve been in the industry for 30 years, sat the third FASEA exam and passed and had to complete 8 subjects…done….and I truly believe the industry is better for all of this….I’m a dinosaur but I’m not extinct!

Funny how Jones said if Labor get in he will change the education requirements and it shouldn't take long or be a problem to do.

Now its a consultation process which is code for we just wanted to get elected and will blame that process for not doing what we said pre-election.

Plenty of posters said not to trust Labor.

It gets rid of people who shouldnt be advising on financial matters. Anyone who cannot pass FASEA after 3 years and unlimited attempts is by definition unqualified to advise clients

Will those who did extra study be reimbursed their tuition fees if it's no longer needed? Just pick a strategy and stick to it!

The exam is getting rid of the right people in my opinion. Anyone with 25 years of "experience" who cannot pass the FASEA exam should definitely not be advising anyone about financial matters.

With a bit of luck they will streamline themselves out of a job

Do not allow product issuers to be financial advisers and you won't have a problem!

Getting a bit sick of advisers moaning about having to pass FASEA this year. You have had 2 years to pass the exam and if you haven't done so you should not be advising anyone about how to manage their financial affairs

Jones fiddles while Rome burns...

100%

Previously an adviser with over 10 year experience was in a management role when the changes came in and was not authorized to get study exemptions.

Currently hold Bachelor of Commerce (Economics), Diploma Financial Planning, Advanced Diploma Financial Planning, CFP Designation and Masters of Applied Finance. To become an adviser again would need to do 6 subjects of graduate diploma and professional year. A fresh uni graduate has a higher recognition than all of the above its a joke.

I'm pretty much done and thinking about leaving the industry.

Email me Alex, gmail is fine.

Indeed, very well said!