Guides: Financial Planning: Professional Services Firms

Professional standards for financial advisers

From 1 January 2019, a new education, training and ethical standards regime for financial advisers commenced, under the Corporations Amendment (Professional Standards of Financial Advisers) Act 2017.

The professional standards require financial advisers to:

have an approved qualification
pass the financial adviser exam
participate in 40 hours of continuing professional development (CPD) each year
comply with the Financial Planners and Advisers Code of Ethics 2019 (Code of Ethics) – a set of principles and core values in the areas of ethical behaviour, client care, quality process and professional commitment.

Read more about financial standards on the Australian Securities & Investments Commission website.

ASIC's Professional Registers
ASIC's professional registers provide information about professionals, including liquidators, auditors and licensees.
MoneySmart - Financial Advisers Register
This is a register of people who provide personal advice on investments, superannuation and life insurance. Use this register to find out where a financial adviser has worked, their qualifications, training, memberships of professional bodies and what products they can advise on.
Responsible Investment Association Australasia
The Responsible Investment Association Australasia (RIAA) is the peak industry body representing responsible, ethical and impact investors across Australia and New Zealand.
Tax Practitioner's Board Register
Financial advisers who provide tax advice or advice on tax consequences must be registered with the TPB.