Financial advisers who cease to be authorised before or after 1 January 2026 have been warned they should try to meet the required education standards before that date to prevent losing their status.
SMSF Association policy manager Keddie Waller said there was still some confusion about how the standards will apply to an adviser who ceases to be authorised before or after the first day of 2026.
In a blog post on the association’s website, Waller pointed out advisers who meet the definition of a relevant provider but ceased to be authorised could still meet the education and training standard set out in section 921B of the Corporations Act by completing an approved degree or completing courses that give existing providers equivalent qualifications.
“There is a no specified time limit on when the study must be completed so long as the financial adviser is not authorised on 1 January 2026, the study can be completed at any time,” Waller said.
“After 1 January 2026, an existing financial adviser must have completed the required study before they can become authorised again.
“To comply with the education standards and be eligible to continue to be authorised from 1 January 2026, existing providers must pass the financial adviser exam and complete an approved degree and/or approved bridging courses.
“The only exception to meeting these requirements is if the existing financial adviser instead meets the requirements under the experienced provider pathway.”
Waller, however, highlighted there were a number of caveats to these conditions that may prevent advisers from gaining qualifications in time and she urged practitioners to act swiftly.
“Post 1 July 2026, it is likely that approved education providers may wind back or cease offering approved bridging units,” she said.
“If a financial adviser who is an existing provider fails to complete their required study and is authorised on or after 1 January 2026, they not only lose access to the existing adviser pathway and the professional-year exemption, their authorisation as a relevant provider also becomes void.
“The current education standards have been the subject of several consultations in recent years, indicating there is a chance they may be revised in some manner in the future.
“This is another factor financial advisers should monitor if they are considering a break from being authorised.
“For those who will continue to be registered into 2026, time is running out. You need to ensure that you will meet the education requirements as they apply to you. Don’t leave it to the last minute.”
