As the Dec. 31 deadline for Financial Adviser Standards (FAS) education approaches, Kaplan Professional has revealed that nearly 1,000 financial advisers in Australia still need to complete their required studies.
These advisers, who do not qualify for the 10-year experience exemption, risk being removed from the Financial Adviser Register (FAR) if they do not fulfil the education requirements on time.
To help advisers meet the regulatory deadline, Kaplan Professional has introduced two final six-week intensive study periods.
The Spring Intensive begins on Oct. 6, with early access to materials from Sept. 22, while the Summer Intensive starts on Oct. 27, with early access from Oct. 13.
The Summer Intensive, in particular, is positioned as the last chance for advisers to complete their studies before the end-of-year cut-off – with enrolments closing on Nov. 5 and results released by Dec. 15.
Each intensive period allows advisers to enrol in any of the eight core subjects required for the Graduate Diploma of Financial Planning.
While the recommended approach is to complete one subject per intake, advisers with multiple outstanding requirements may be able to take on more, depending on their capacity.
Advisers who do not finish the required coursework by the end of 2025 must remove themselves from the FAR before the deadline.
They may return to the register after completing their studies, but those who miss this process will be treated as new entrants, subject to additional entry requirements.
Kaplan Professional is also offering a final standard 12-week study period, running from Oct. 13 to Jan. 16. However, this intake will not enable advisers to meet the FAS deadline and is aimed at new entrants or those seeking further qualifications.
Recognition of Prior Learning (RPL) applications are encouraged for advisers who intend to return after ceasing or who wish to complete a full qualification.
Credits for prior experience or study must be secured before the end of 2025, as these will not be available after the deadline.
Brian Knight, CEO of Kaplan Professional, highlighted the urgency for advisers to act.
“We know the pressure advisers are under as the deadline approaches – that is why the Summer Intensive matters. It is a final, flexible six-week sprint to the finish line, and our team is ready to work with every adviser, whatever their situation,” he said.
Knight also referenced the strong demand for intensive study options.
“The response to our first intensive was extremely strong, with higher-than-expected enrolments and an excellent level of student commitment. It is clear this format is a vital avenue for advisers who need a flexible, accelerated option to complete their studies and meet the deadline,” he said.
He added: “The time for waiting is over – advisers need to act. By enrolling now, committing to a disciplined approach and leveraging the support we provide, there is still a clear path to meeting the Dec. 31 deadline.”
