Posts tagged Education
Where FASEA gets it right: Training and Competency

Smarter Compliance. Effective education and ongoing training is the bedrock of every profession. So how can an advice profession emerge from an industry that prefers validation and convenience over development, engagement and deliberate practice? In our view, it can’t. In this article, we explore Continuing Professional Development from a different perspective - the sustainability of advice businesses - and argue that FASEA are right to push for tailored, engaging and challenging CPD.

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"A game of snakes and ladders": FASEA, degrees and equivalent qualifications

Smarter Compliance. In a previous article we discussed Continuing Professional Development requirements under the Financial Adviser Standards and Ethics Authority (FASEA). In this article, we’re focusing on qualifications and, in particular, the completion of a bachelor or higher degree, or equivalent qualification, approved by the standards body. FASEA’s requirements appear deceptively simple, but the path to compliance with their requirements can conceal dead-ends, reversals and unanticipated complexity. Assured Support can guide you through.

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FASEA: Changing CPD requirements mid-flight

Smarter Compliance. The new Continuing Professional Development (CPD) Standards released by the Financial Adviser Standards and Ethics Authority, provide useful guidelines for transforming the profession. Unfortunately, depending on your perspective, they were delivered either too late or too early for most licensees. One could complain, but, when you’re in mid-flight, your only real option is to adapt to the conditions and do everything you can to ensure you stick the landing. Sure, the flight metaphor is overworked but the article quotes David Bowie and is packed with the analysis and insights you need to operationalise these requirements. Hurry, 31 March 2019 will be here before you know it.

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The examined life: FASEA, facts and the future of advice

Smarter Compliance. We are now on the eve of the implementation of the Corporations Amendment (Professional Standards of Financial Advisers) Act. FASEA and this legislation will significantly change the training, education and ethical standards for financial advisers and reshape the advice profession. This article explores the significance of the proposed change in education standards, maps out the practical differences and draws on similar examples to highlight the facts that advisers will need assured support to weather these changes.

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The Great Divide: RG146, training and education

Smarter Compliance. In this guest post, education expert, Angelique Aksenoff, introduces the great divide in competency standards and asks “what will happen to RG 146 and Tier 2 advisers with the uplift to financial adviser education and training standards?”. Identifying that shifting Tier 2 standards will have a far more profound impact than many anticipate, the author explores the challenges and likely consequences of these essential reforms.

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"We don't need no education": Reflections on competency, training and education

The popular view of acceptable 'training and education' for financial advice professionals seems to increase with each new licensee failure and public scandal. 

While most advisers admit the initial base was quite low,  expectations have increased dramatically. Now, with new education standards looming on the horizon, the landscape of financial advice looks to change forever.

This is a great outcome for the emerging advice profession.

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7 ways to pick a better Adviser (Part One)

Most Australians would significantly benefit from receiving financial advice, but relatively few ever receive the financial advice they need. Cost, complexity, inconvenience and apathy all play their part, but consumer apprehension, the fear of being “ripped off”, is also a significant contributor to this outcome. This article won’t provide personal recommendations, but it will outline seven practical considerations that would help identify a better financial adviser. Individually, none of them is sufficient, but together these seven aspects will help weed out the pretenders and point consumers in the direction of the professional advice they need.

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