The CEO of the AIOFP, Peter Johnston, gives his personal opinion on the way the FASEA EXAM format may go if the ALP get into power.

Hi, here are my personal views on the way the FASEA EXAM format may go if the ALP get into power.

  • Stephen Jones has already commented publicly that the one size that fits all approach to FASEA is unfair and he will change it.
  • Risk, Stockbroking, SMSF and Investment Advice are 4 specific fields we have suggested that needs to be addressed in an exam format where it is less about ethics and more about relevant knowledge to deliver consumer advice.
  • Jones agrees with an Exam format so unfortunately we don’t see it being abolished any time soon but he has changed his view on risk commissions once presented with the facts.
  • I think Jones can see that the Libs intention was to ‘kill advisers’ with an exam format that was purposely ambiguous and difficult.
  • Jones is acutely aware of the ‘cliff’ on September 1 2022 for literally thousands of risk advisers to pass the Exam.
  • ASIC have informed us that the Minister has discretionary power to amend the Exam conditions, NO NEED for Parliament to get involved – this is a good aspect.
  • The Libs are waiting to criticize anything the ALP suggests, the optics of changing an ‘ethics’ exam is politically dangerous for them THIS side of the election [therefore don’t expect anything around this issue until after the election]

Please be assured that we will be pushing hard for the format to be changed immediately after the election in preparation for the September ‘cliff’ to be mitigated.

Stephen Jones and his key Adviser will be attending our Darwin JUNE 6 – 10th Conference hopefully as our Minister which will help our collective cause to change this unfortunate situation.

THAT’S WHY WE NEED AS MANY THERE AS POSSIBLE…..please reconsider if you are not attending, it may just be life changing for many.

Jones needs to personally see the faces of those who are facing extinction at the hands of the Liberal Party and their donors, we will organize a private meeting to ensure this happens in Darwin.


Peter Johnston | Executive Director
Association of Independently Owned Financial Professionals
Suite 1211, 1 Queens Road, Melbourne VIC 3004
P 1800 111 203, d 03 9863 7574, m 0418 857 621 | Download my business card

This message is presented as a service to our community. Knowledgemaster International (KMI) or its owners and employees are not a member of any group associated with the “sale of advice” profession, any regulatory bodies, product manufacturers or hold or supply any consultancies to any government instrumentalities or lobby groups. Any actions or inactions taken as a result of reading this message are the sole responsibility of the reader.