The Government has proposed an “experience pathway’ that will mean financial advisers with 10+ years of full-time experience gained over the last 12 years will be exempt from obtaining a university degree.
The policy paper ‘Education Standards for Financial Advisers’ released by the Treasury last month sought to streamline the minimum education requirements and recognise on-the-job experience, while ensuring there was a base level of knowledge across the financial advice industry and the quality of financial advice was at a high standard.
Interested parties are invited to comment on the proposals and stakeholder feedback will help to inform the Government’s policy and whether any changes are required to the current legislation.
Further information including the policy paper, submission guidelines and details on how to respond can be found on the treasury website.
Feedback is required by 1 February 2022.