Exam Extension Eases Pressure But Mental Health Concerns Remain

Financial advisers breathed a sigh of relief this morning when the bill containing the long-awaited extension to the deadline to pass the FASEA exam was passed by parliament. The deadline to pass the FASEA exam is now 1 January 2022, and advisers will also get an additional two years to meet FASEA's qualification requirements. The education requirements now have to be met by 1 January 2026. The extension will temporarily ease pressure and anxiety for advisers, but concern for the mental health and wellbeing of those in the industry remains. More than half of people from the financial and insurance services industries surveyed last year indicated they have experienced a mental health condition.