It is important to remember there is nowhere to hide on this. There is no two-year safe haven or transition period for being compliant and meeting the legislation, regulation and code that came into play earlier this year. The transition period only applies to obtaining a full FAP licence and to competence relating to advice provision.
Some large corporates have developed inhouse training to upskill employees to meet this need. For others, Strategi Institute’s Closing the Gaps course is designed specifically to enable FAPs, financial advisers and nominated representatives to quickly get to grips with the regulatory changes and prove they have undertaken appropriate training. Closing the Gaps can be completed, online, via Zoom or in a conventional classroom. It is only a half day course, plus reading of the workbook and the Regulatory guide for the financial services industry edition 5. Assessment is via 30 open book multichoice and scenario-based questions.
Pricing ranges from $250-$350 plus GST depending on the study option selected.