The exam is scheduled to be offered across 327 separate sessions in those months, and advisers will have a choice of a remote online or face to face exam option, subject to meeting COVID-19 requirements.
Each exam will be offered over multiple days with sittings proposed in both metropolitan and regional venues. In person sittings will only occur if COVID-19 requirements allow. Advisers who do not wish to attend a physical venue can sit the exam remotely on-line at any time across those sitting days.
There will be five sitting days from 13 to 18 August, with eight metro and 14 regional physical locations and 156 sessions across the five days. That exam is open for registration until 24 July with over 2,200 advisers registered.
There will be five sitting days from 8 to 13 October, with seven metro and eight regional locations and 87 sessions across the five days.
Eighty-five sessions will be offered from 5 to 10 November across seven metro and seven regional locations.
To date approximately 10,250 advisers have sat the exam. Fifty-five per cent (12,450) advisers registered with ASIC have sat the exam or have registered to sit it at future 2020 sittings. FASEA will offer further exams with multiple sitting days in 2021.
I wonder how many of the remaining 45 per cent plan to hand in their AFSL.
I did and feel great about it !!
If accountants can give ‘execution only advice’ without an AFSL then why don’t we. Clients don’t want $3000 SOAs that’s for sure.
Lets boycott all the red tape and focus on what clients actually want. Just make it clear it’s just education and facts – not intending to influence their decision about any specific financial product.
Any good analyst can see that having money in an advice business in Australia is a very bad investment indeed. Give yourself good “product advice” and exit. Government will then panic and be forced to sort something out. We have 200,000 Australians hitting age pension age per year. And only 12,000 advisers willing to put up with the dysfunctional operating model regulators have forced on us.
yep yep yep. Its a WTF moment.
i will be joining you as part of the exodus.
i have other business interests that make much more money with less stress.
Good riddance to the both of you. The whole FASEA process is very frustrating, and extremely poorly executed, but it was a lot easier to just suck it up and get it done.
If you really cared about your clients you would get educated, pass the exam and abide by the law.
This was all designed to get rid of those not committed to the industry. Case and point.
SD – I’m not running a charity
ASIC research shows customers are only willing to pay a few hundred dollars for advice.
The only case IN point is people like you rolling over and continually sucking it up is what has created this whole mess. Advisers have had enough of the BS and red tape suffocating this industry. I’m out too, while you SD, can keep sucking it up for the next decade cause it isn’t going to end here!!.
80% of Australians have clearly boycotted all the red tape – they simply don’t engage with planners.
That is a poorly considered rebuke. For many advisers who have dedicated a lifetime of learning (both book and real life) to their clients, staff and the community, to have to invest so much more time, energy and financial resources to meeting this ill thought out FARCE is life changing. To idly talk about not being committed to someone who has navigated their way for over 30 years through numerous iterations of government and industry and technology change from the days of self regulation to licensing and CFP is manifestly disrespectful. You might consider taking some extra classes in grammar …the saying is “case in point”.
You watch the numbers pull out left right and centre now that the extension has been confirmed…