57% pass adviser exam in November
Fifty-seven per cent of financial advisers have passed the adviser exam in November.
The Australian Securities and Investments Commission (ASIC) released the results of the adviser exam in November, announcing that 282 advisers had sat the November exam with 161 passing.
43% of candidates were resitting the exam for at least the second time.
According to ASIC, to date 20,309 candidates have sat the exam. Over 92% of candidates who have sat the exam have passed, demonstrating they have the skills to apply their knowledge of advice construction, ethics and legal requirements to the practical scenarios tested in the exam.
Of those who have passed:
- Over 15,850 are recorded as current financial advisers on ASIC’s Financial Adviser Register (FAR), representing 99% of current advisers on the FAR.
- Over 2,700 are ceased advisers on the FAR and may be re-authorised in the future.
- Over 800 were new to the industry.
The next exam sitting will be held on 16 February 2023.
Surely the exam now is irrelevant. should be part of the education curriculum. Such a waste of time exam that provided what? I don’t think it proved if you are a worthy planner or not, just that you could regurgitate a wide broad set of no curriculum information.
As a financial planner we don’t make stuff up we look it up and research information before providing advice. This has been a sham from the get go. We been abused from bureaucrats long enough and we are without a voice who can stand up for us.
Not a joke a sham to advisers. A class action is due from advisors for a government that stole 20 to 30 years of hard work to have a worthless business model going forward. There is ZERO value add to any client out there. Scams have increased 10 fold since adviser numbers dropped to less than half…