In this article about the Professional Year for Financial Adviser, I discuss…
- a NEW ENTRANT (NE) in the PY can be enrolled to sit the exam as soon as they have a NERN (New Entrant Registration Number)
- a person can COMMENCE the PY BEFORE completing a FASEA Approved Qualification (the “final stages” rule)… but must complete qualification to be register for Exam
- the NE must PASS the EXAM before being registered as PROVISION FINANCIAL Adviser
- the NE CANNOT commence Qtr 3 UNTIL the exam has been PASSED
- Licensees need to factor in Exam SCHEDULES, MARKING TIME, & possible FAILS … this may blow the PY out to 18 mths +
- New Entrants have SAT & FAILED the exam without the licensee being aware .. the YOUNG GUN paradox – fresh from completing FASEA Approved Degree, used to sitting exams, and then they come up against the FASEA Exam
- Licensee must make @ least 2 ETHICAL DILEMMA scenarios available to the NE in EACH of QTR 3 & QTR 4.
If you would like to have a chat about how to build an effective Professional Year Program, please feel free to reach out.