Local Financial Planning in Noonamah NT

How financial planning is regulated

2017 was a big year for the financial planning industry. It introduced measures in the corporations act that raised the education, training and ethical standards of financial planning advisors to protect the layman from buying products they didn’t understand. Here’s a brief summary of the requirements of personal financial planners.

• Providers must have a relevant bachelor or higher degree, or have an equivalent qualification.
• They need to pass an exam for ethics and knowledge.
• Advisors must meet continuing professional development requirements each year.
• New planners need to undergo a full year of training and supervised work.
• Finally they must comply with code of ethics and be covered by a compliance scheme that monitors and enforces the advisor’s compliance.

Only if compliant with the above requirements, can a provider advertise financial planning for retirement and other advice. Find a qualified financial planner from a financial planning company or firm from one of our listings today!