FASEA upgrades pathways guidance


The Financial Adviser Standards and Ethics Authority (FASEA) has released new guidance on its education pathways proposals, confirming bridging courses for advisers with bachelor’s degrees in related fields such as accounting, business, commerce, law and economics.
FASEA has also issued a draft code of ethics for consultation dealing with ethical behaviour, client care, quality process and professional commitment, including a requirement that advisers uphold the ethical standards of the profession and hold their peers to account.
Commenting on the updated pathways guidance, FASEA chief executive, Deen Sanders said that advisers with a bachelor’s degree in a related field – that is, accounting, financial planning or advice, business, commerce, law or economics – would need to complete a bridging course of three study units to meet the standards.
He said this typically equated to less than a year of part-time study.
“Advisers with a bachelor’s degree and a postgraduate qualification in a related field will only need to complete a one-unit bridging course covering the FASEA Code of Ethics,” the FASEA announcement said.
It said all advisers with these types of degrees would be eligible for the relevant bridging course option, regardless of when they obtained their degree.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.