More than half pass adviser exam
Some 52% of financial advisers have passed the latest financial adviser exam, figures from the Australian Securities and Investments Commission (ASIC) show.
The results are for the 18th Financial Advisers Exam cycle, held in July and August 2022, and show that:
- 628 advisers sat the July and August exam;
- 328 (52%) of candidates passed the July and August exam;
- 76% of candidates were resitting the July and August exam for at least the second time.
ASIC also updated its overall exam results, revealing that 20,148 candidates have sat the exam to date.
Over 92% of these have passed, the commission said, “demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam”.
Of those who have passed:
- Over 15,800 are recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR), representing 95% of current advisers on the FAR.
- Over 2,500 are ceased advisers on the FAR and may be re-authorised in the future.
- Over 700 were new to the industry.
- Over 3,300 unsuccessful candidates have re-sat the exam, with 74% passing at a re-sit.
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
