Government delays financial advisor exams

By AAP Newswire

Financial advisers working without qualifications have been given longer by the Morrison government to get the necessary education to meet industry standards.

Existing advisors now have until 2022 to pass an approved exam and until 2026 to meet education requirements, despite the plan being announced three years ago.

"This extension will ensure financial advisers have sufficient time to meet the new requirements, balancing the professionalisation (sic) of the industry with the need to maintain the ongoing flexibility and affordability of advice," assistant treasurer Michael Sukkar told parliament on Thursday.