ASIC RG 146: Licensing: Training of Fin. Product Advisers
This guide is for advisers (i.e. Australian financial services (AFS) licensees and representatives who provide financial product advice to retail clients), and providers of training and education for advisers.
ASIC has set minimum standards for the training of financial product advisers (training standards): see RG 146.1–RG 146.3.
The training standards are sets of knowledge and skill requirements that vary depending on the adviser’s activities: see RG 146.6–RG 146.7 and Section C.
All natural persons who provide financial product advice to retail clients must meet the training standards, unless they fall within certain limited exemption categories: see RG 146.4–RG 146.5 and Section B.
In general, advisers will meet the relevant training standards by satisfactorily completing training courses assessed as meeting the training standards by an authorised assessor and listed on the ASIC TrainingRegister. As an alternative, experienced advisers can demonstrate their competence through individual assessment by an authorised assessor: see
RG 146.8–RG 146.13 and Sections D–E.
Licensees must implement policies and procedures to ensure that they and their advisers undertake continuing training: see RG 146.14–RG 146.15 and Section F.
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