Financial advice regulatory and legal requirements

• Demonstrating an understanding of the difference between personal advice, general advice and factual information and how they apply to different client scenarios
• Assessing whether advice recommendations meet the client’s best interests
• Assessing the impact conflicts of interest may have on advice recommendations

Financial advice construction

• Identification of client biases and how they may influence clients’ financial decisions and/or investment choices
• Understanding the context of client requests for advice and how this may impact advice construction
• Applied ethical and professional reasoning and communication
• Applying Standards 2, 4 and 12 of the Code of Ethics to advice scenarios
• Demonstrating an understanding of an adviser’s ethical obligations when advising on complex family structures

FASEA said around 700 advisers had registered for the October exam session so far and 1,200 had registered for the November session.