The most effective way to prepare for the FASEA exam is to: understand the proposed question format of the exam, the concepts and ideas that will be examined, be mindful of where other participants have struggled, and then use this information to reverse engineer a Personal Exam Strategy. Click on the image below to access …
Nail the FASEA Exam in 2021 – FREE DOWNLOAD “Exam Tips & Insights” Read More »
Stockbrokers and Financial Advisers Association (SAFAA) – Newsletter DECEMBER Edication – DOWNLOAD full article here The most effective way to prepare for the FASEA exam is to understand the proposed question format of the exam, the concepts and ideas that will be examined, be mindful of where other participants have struggled, and then use this …
How do you prepare for the “one size fits all” FASEA Exam? Read More »
This article highlights the confusion and conflicting opinions on the legal certainty of financial advisers providing ‘scaled advice’. Some believe scaled advice breaches the BID obligations and Standard 6[1] of the FASEA Code of Ethics, whilst others believe scaled advice is permissible and fully supported by ASIC and the legislation. We explore ASIC’s view on …
I’m often asked by Advisers as they prepare for the exam… Question: “Personal advice needs to be financial product advice. Your notes also follow this. However, RG175 suggests that client (personal) advice may not be product specific.” ANSWER: Personal advice is given when the adviser has considered the person’s specific objectives, situation or needs, or …
FASEA Exam Questions: When is it Personal Advice, General Advice or Factual information? Read More »
In the NOVEMBER Edition of our FASEA Standards Newsletter, we discuss: FASEA Exam: August Results & Analysis Over 50% of Advisers have sat the ExamOver 11,180 advisers have sat the exam with 9 in 10 demonstrating they have the skills to apply their knowledge … to the practical scenarios tested in the exam? Regulations: FASEA Code …
FASEA recently released exam results from the Exam held in August 2020. Result highlights include: * 82% of candidates passed the August exam, * 65% of advisers re-sitting the exam passed on their second attempt, * 1,521 advisers sat the exam compared with an average of 1600 across all exams * Over 11,180 advisers have …
IFA.com.au analysed my recent video regarding Standard 3 of the FASAEA Code of Ethics (see full video here.) The article summarises a key aspect of the video content, which is the fact that Advisers receiving other forms of remuneration outside of a fixed salary can ensure they are FASEA compliant by following a simple test. …
Bonuses & Referrals can be FASEA compliant (IFA Article – Joel Ronchi) Read More »
In the SEPTEMBER Edition of our FASEA Standards Newsletter, we discuss: Legal Issues: ASIC takes on well-known Boutique Advisory ASIC enforces its “why not litigate” mantra Do you want to see what it looks like when ASIC goes after a LICENSEE and its FINANCIAL ADVISERS who alledgedly breached Section 961 of the Corps Act? Regulations: Single Disciplinary …
In this video from myIntegrity’s recent FASEA Exam Prep Masterclass (Webinar) Program, I explain how Standard 3 of the FASEA Code of Ethics operates. Importantly, I explain how Standard 3 operates in conjunction with Standard 7 of the Code, as well as how Financial Advisers can still take in to account the requirements of Standard …
FASEA Code of Ethics – Standard 3 Explained (Video) Read More »
Financial Advisers may not be aware of the fact the Mortgage Brokers will have a similar BEST INTEREST DUTY, CONFLICT PRIORITY RULE, & CONFLICTED REMUNERATION framework imposed on them through legislation, effective the 1st January 2021. Similar to s961 of the Corps Act, the relevant legislation is s158 of the NCCP (Credit) Act in which …
Best Interest Obligations (BIO) – Mortgage Brokers & Financial Advisers in the same boat Read More »