What are you really doing post-FASEA?

The Financial Adviser Standards and Ethics Authority (FASEA) may have rolled out an education pathways policy but do financial advisers, as yet, have enough information to make a decision about their futures?

Money Management is asking financial planners and other financial services participants to complete this short survey to determine not only whether advisers feel they have received enough information from FASEA but how many have already made decisions and initiated either their pursuit of more qualifications or their exit from the industry.

Surveys conducted last year by both the Financial Planning Association (FPA) and the Association of Financial Advisers (AFA) suggested that more than 30 per cent of financial planners may be preparing to exit the industry, but more recent feedback has pointed to planners already seeking to enrol in the degree courses identified by FASEA.

Please take the time to complete the survey and Money Management will share both the results and the anonymous sentiments of respondents over coming weeks.

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Like many others, I will be succumbing to the FASEA extortion racket purely to protect my livelihood.

The results of this survey should NOT be misinterpreted to conclude that advisers who understand the FASEA requirements and will be reluctantly complying with them, accept those requirements or believe that FASEA has acted reasonably, honestly or ethically.

I commenced my Masters Study October 2014 as I thought we would need this for the future. I have now completed it, all done, BUT, now unsure whether I want to continue working in the Profession following the Royal Commission disclosures last year. It is sad that the minority tarnish the majority and make us feel unwanted and unloved. And the FASEA disruption will only make things worse for those who have to start now.

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