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The Financial Planning Association of Australia in its submission to Treasury this week recommended the “experience pathway” for financial advisers only be available to professionals 55 and over and who have “at least 15 years’ experience gained in the past 20 years, and be sunset in 10 years’ time”.

Chief Executive Sarah Abood said “While experience is an important factor in competence to provide a professional service to a consumer, education is also universally identified as a key component of professional competence,”.

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