One of the big changes to come out of the Royal Commission into Banking, Superannuation and Financial Services in 2017, was the raising of scholastic standards for advisers. This was in response to findings that only 8,704 out of approximately 25,000 registered advisers had completed a degree at a bachelor level.
The Financial Adviser Standards and Ethics Authority (FASEA) has certainly raised the bar. They know that many advisers will retire and change jobs rather than go back to school. But the people who are passionate about their profession will roll up their sleeves and commit to gaining the qualifications they need.
At Elston, we have always believed in delivering quality advice, setting the highest of ethical standards and putting our clients at the centre of every decision we make. We are very happy to see lazy advisers move out of the industry. And we are dedicated to supporting the advisers at Elston who work hard to achieve recognised qualifications and credentials.
In the last three years we have helped over 40 advisers to undertake the extra burden of study. Hitting the books at night and on weekends can be tough, especially when you’ve got a family at home.
That’s why we offer leave for study and exams. Our senior advisers step up to mentor other people in the team. And we make sure we celebrate not just the successes, but the sacrifice and commitment each person is making.
While our advisers have been striving for university qualifications and their CFP credentials, our Asset Management team has been pushing themselves just as hard.
To become a CFA (Chartered Financial Analyst) is no mean feat. Samantha Woodham recently passed Level 3 of her CFA, something that around 60% of her cohort failed to do.
A big congrats to everyone. We love your work.
If you would like more information please call 1300 ELSTON or contact us to speak to one of our advisers.