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).
- 27 Mar 2023: ASIC releases February 2023 financial adviser exam results
- 08 Dec 2022: ASIC releases November 2022 financial adviser exam results
- 30 Nov 2022: ASIC releases sitting dates for 2023 financial adviser exams
- 01 Sep 2022: ASIC releases July and August 2022 financial adviser exam results
- 20 Jun 2022: ASIC releases May 2022 financial adviser exam results
- 25 Mar 2022: 22-065MR ASIC releases February 2022 financial adviser exam results
- 20 Dec 2021: Important information for financial advisers yet to pass the exam and their licensees
- 22 Sep 2021: New information about the Financial Advisers Exam for advisers practising prior to 1 January 2019