Educational requirements

Professional standards apply to financial advisers who provide personal advice on relevant financial products to retail clients.

The professional standards require financial advisers to:

  • have an approved qualification
  • pass the financial adviser exam
  • participate in 40 hours of continuing professional development (CPD) each year
  • comply with the Financial Planners and Advisers Code of Ethics 2019 (Code of Ethics) – a set of principles and core values in the areas of ethical behaviour, client care, quality process and professional commitment.

Anyone wanting to become a financial adviser must also complete a full-time professional year that includes at least 1,500 hours of work activities and 100 hours of structured training (a total of 1,600 hours).

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Last updated: 19/04/2023 12:31