Education, Financial Planning

Advisers given FASEA preparation reminder

Online adviser portal Wealthdigital has underscored the need for financial planners to be well prepared for further postgraduate study requirements under the Financial Adviser Standards and Ethics Authority (FASEA).

Wealthdigital technical manager Rob Lavery said for some planners this study will be a first foray into degree-level education, while for others it will mean returning to study after a lengthy break.

The first thing planners should do is to know what further study is required of them, Lavery said.

“Until FASEA release their completed guidance for existing planners, there isn’t absolute certainty,” he warned.

“That said, the draft guidance on which FASEA already consulted will give planners a pretty good picture of their likely requirements.”

He said planners will need to choose a course provider, noting flexibility will be paramount for many.

“Distance education, with subjects offered in many different study periods over the course of the year will be appealing to these planners. Others will be more concerned with having clear structure and may need the added support provided by face-to-face study,” he said, adding planners must also be aware of prerequisite subjects.

“The prospect of further postgraduate study is a daunting one.

“The key is to not leave it until the last minute. Planners who start their study sooner will have more time to complete their course and will find it easier to fit their study around their life.”

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