The Financial Adviser Standards and Ethics Authority (FASEA) will provide advisers with assistance in matching their previous education and training with new standards as part of a soon-to-be-launched assessment service.
The new service was announced today by FASEA chief executive Stephen Glenfield at the SMSF Association National Conference 2019 in Melbourne and comes in response to a high level of inquiries from advisers about what education pathways were applicable to them.
“On education, most of the input we receive is around the desire to have certainty on what advisers have to do and what is coming to assist them in doing that work,” Glenfield said.
“As such, we will launch a degree assessment service for advisers who are having difficulty assessing what their required education pathway will look like.”
As part of the service, advisers will be able to take course transcripts and evidence of any education they have completed to FASEA, which will provide information on the education pathway applicable to them.
Glenfield said FASEA had also written to the major industry associations to ask them to benchmark any coursework related to their designations and, where appropriate, to apply for recognition of that work within the education pathways.
“We are, as a priority, assessing those applications as they are received so advisers can get certainty around the recognition of prior learning credits attached to the work they have done,” he added.
FASEA had also written to higher education providers asking them to provide advice on which historical degrees should be recognised as approved degrees, with Glenfield adding this work was ongoing, and asking advisers to inform the authority about any courses they believe should also be included on the recognised degree register.