Study pathways to financial advice for new advisers

If you are starting out as an adviser there are several pathways you might take to becoming a qualified practitioner.

Basically, you need to complete an approved degree at either Bachelor level or Postgraduate level.

In addition, you will need to pass the Financial Adviser Exam, complete a Professional Year with a licenced advice business, abide by the Financial Adviser Code of Ethics and complete annual CPD (continuing professional development) requirements.

Approved Bachelor degrees are 24 units, typically completed over three years full-time or six years part-time. 

Alternatively, you will need to undertake an approved postgraduate degree which is eight units (for a Graduate Diploma of Financial Planning) or 12-16 units (Master of Financial Planning) – each unit typically takes 10 weeks.

The cost of the Graduate Diploma ranges from around $16,000 to around $32,000.

You will need to check with the institution for more information on fees. Some discounts are provided to FAAA members and the prices above reflect these.

If you are changing careers and have accounting, stockbroking, investment or similar qualifications or designations you may be able to obtain credits for this study. Your first move should be to get an approved degree.

Find out more about how to join the financial advice profession here.