A new training course has been developed by TAL, which will help financial advisers fulfil their FASEA education requirements.
The first session of the ethics training course, which has been designed to help advisers understand and apply the FASEA requirements, had almost 500 advisers in attendance.
TAL head of licensees and partnerships Beau Riley said the course had been developed to help advisers fulfil their educational requirements set by FASEA and prepare them for the FASEA examination.
“From 1 January 2020, financial advisers must comply with a code of ethics and be covered by a scheme under which their compliance with the code of ethics will be monitored and enforced,” said Mr Riley.
“Additionally, financial advisers must obtain nine continuous professional development (CPD) hours in ‘Professionalism and Ethics’ and pass a FASEA examination, which consists of a section on ‘Applied Ethical and Professional Reasoning’.”
The course was part of TAL’s commitment to supporting a well-informed industry, said Mr Riley, as currently there was a lot of confusion surrounding the requirements.
“Currently, there are very few resources available to support financial advisers in understanding the code of ethics and how it applies to their day-to-day business dealings and customer interactions,” he said.
Advisers needed to know how FASEA would affect them as it would allow them to deliver optimal client outcomes and inspire consumer confidence, said Mr Riley.
“Through our TAL Risk Academy ethics course, we want to equip advisers with a solid understanding of the scope of the code of ethics and the procedures they need to put in place to ensure they adhere to the code and demonstrate their adherence to others,” he said.
The course is run by TAL national technical manager David Glen and it is available on-demand and free to attend.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]
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