The government has shifted its tone on adviser numbers, with the financial services minister Jane Hume explaining that it is necessary to keep experienced advisers in the industry with new entrants lacking.
Both financial services ministers rejected the notion the education carve-out is a “watering down” of professionalism and that advisers “shouldn’t feel sore” about commencing potentially unnecessary education requirements.
Senator Jane Hume acknowledged the current system may not be fit for purpose with the required 40 hours being excessive. “Financial advisers do 40 hours of CPD which is quite extraordinary,” she said. “Lawyers do 10.”
Senator Jane Hume acknowledged the current system may not be fit for purpose with the required 40 hours being excessive. “Financial advisers do 40 hours of CPD which is quite extraordinary,” she said. “Lawyers do 10.”
Both financial services ministers rejected the notion the education carve-out is a “watering down” of professionalism and that advisers “shouldn’t feel sore” about commencing potentially unnecessary education requirements.