{"id":9310,"date":"2019-04-05T17:58:12","date_gmt":"2019-04-05T06:58:12","guid":{"rendered":"http:\/\/www.dbalawyers.com.au\/?p=9310"},"modified":"2019-07-11T15:17:28","modified_gmt":"2019-07-11T05:17:28","slug":"the-many-roads-that-lead-to-meeting-faseas-education-standards","status":"publish","type":"post","link":"https:\/\/www.dbalawyers.com.au\/announcements\/the-many-roads-that-lead-to-meeting-faseas-education-standards\/","title":{"rendered":"The many roads that lead to meeting FASEA\u2019s education standards"},"content":{"rendered":"

Daniel Butler (dbutler@dbalawyers.com.au<\/a>), Director, DBA Lawyers<\/em><\/p>\n

\"\"<\/p>\n

The Financial Adviser Standards and Ethics Authority (\u2018FASEA\u2019) has finalised the acceptable pathways that advisers can take to meet FASEA\u2019s education standards.<\/p>\n

We outline below how existing and prospective advisers can meet FASEA\u2019s education standards under the Australian financial services licence (\u2018AFSL\u2019) regime. Each adviser should consider their own circumstances and decide which pathway is most suitable for them.<\/p>\n

1 What are the pathways for existing advisers?<\/strong><\/h4>\n

The Corporations Act 2001<\/em> (Cth) broadly defines an existing adviser (referred to as an existing provider in the legislation) as a person who was an authorised adviser under the AFSL regime between 1 January 2016 and 1 January 2019 and is not banned, disqualified or suspended on 1 January 2019.<\/p>\n

Existing advisers will need to meet FASEA\u2019s education standards by no later than 1 January 2024, and there are five ways this can be done.<\/p>\n

1.1\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Approved degree pathway<\/p>\n

Existing advisers who have completed a FASEA approved graduate diploma qualification or higher will only need to complete an ethics and professionalism bridging course to meet FASEA\u2019s education standards.<\/p>\n

The FASEA approved degree list can be found on FASEA\u2019s website and broadly includes graduate diplomas relating to accounting, commerce, business, finance or others that have an emphasis or major in financial planning.<\/p>\n

1.2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Relevant degree pathway<\/p>\n

Existing advisers that have completed a graduate diploma qualification or higher in a related field of study that contains at least eight courses in one or more of FASEA\u2019s designated field of studies (e.g, financial planning, investments, accounting, tax law, finance, etc) and do not have recognition of prior learning (\u2018RPL\u2019) will need to complete four courses being:<\/p>\n