The provision of extra time to complete new education requirements will reduce disruption for advisers and provide more time to adjust to the changes, according to the SMSF Association.

The federal government has extended the time available for financial advisers to complete the mandatory adviser exam by a year and has also granted a two year extension to meet Financial Adviser Standards and Ethics Authority (FASEA) education requirements. The extensions will, however, only apply to those considered as existing advisers at the end of […]

Advisers have been thanked for undertaking further education and meeting new professional standards, but have not been offered an extension of time in which to complete that work.

New education and professional standards for advisers need to be viewed as providing a consumer benefit first instead of only improving adviser reputations.