Risk Regulatory Update

‘Experience pathway’ laid out for existing advisers

A pathway has been carved for advisers with 10+ years of full-time experience in the financial advice industry, as an alternative to completing a bachelor’s degree. The latest policy paper, Education Standards for Financial Advisers, explains that individual advisers with 10 or more years of full-time experience working as a financial adviser across the past 12 years must only complete the tertiary level unit of the Code of Ethics to continue providing advice.

Advisers using the ‘experience pathway’ must have a clean record prior to 1 January 2026. Anyone who doesn’t meet the requirements must complete a bachelor’s degree or higher with at least eight units in a related field of study in any combination.