Advisers looking to provide SMSF advice should be required by FASEA to complete an SMSF-specific qualification, the SMSF Associations says.

Proof of compliance with the new FASEA Code of Ethics should not be verified by practitioners using the associated guidance document, a senior advice executive has said.

The draft 2019 determination of FASEA-approved courses has been released, including the latest qualifications to be approved by the education authority since the 2018 determination was registered.

New FASEA exam preparation program Cram 4 Exam has begun accepting enrolments for its first sessions, which will commence in October.

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.