The TAL Risk Academy can help you reach your FASEA CPD requirements

The Financial Adviser Standards and Ethics Authority (FASEA) continuing professional development (CPD) standards legislative instrument has led to a change to the requirements for advisers for CPD. The TAL Risk Academy has evolved in 2019 to support licensees and advisers with the new standards.  

 

1. What are the requirements?

Advisers are required to complete 40 hours of CPD each year with minimum hours required for each of the following CPD areas:

  • Technical competence - five hours
  • Client care and practice - five hours
  • Regulatory compliance and consumer protection - five hours
  • Professionalism and ethics - nine hours
  • General (no minimum)

Part-timers with licensees' prior written consent are entitled to a 10% reduction to 36 hours.

 

2. Does CPD need to be approved by the licensee?

Yes. At least 70% of the CPD hours must be approved by the licensee (28 hours).  The remaining 30% (12 hours) does not need to be approved by the licensee.

 

3. How does formal education contribute to CPD?

Formal education, for example study to obtain a Graduate Diploma can be included but is capped at 30 hours of CPD.

 

4. What types of CPD activities are allowed?

The training approved by licensees (28 hours) must be a qualifying CPD activity which can include webinars, online training, seminars and conferences. 

 

5. What is a qualifying CPD activity?

A qualifying CPD activity:

  • has sufficient intellectual or practical content;
  • primarily deals with matters related to financial product advice, financial advice services and financial advice business;
  • is led or conducted by one or more persons who have appropriate and sufficient expertise and experience; and
  • is designed to enhance the adviser’s knowledge and skills in areas that are relevant to the provision of financial product advice and financial advice services.

 

6. How does TAL Risk Academy help with FASEA CPD obligations?

All TAL Risk Academy courses are independently reviewed and accredited by both AFA and FPA to confirm they meet the FASEA requirements for CPD including that each course is developed and presented by an appropriate and qualified subject matter expert.

The 2019 TAL Risk Academy curriculum breaks down the courses in alignment with the FASEA CPD Areas and provides over 100 hours of CPD learning with the minimum hours met for each of the FASEA CPD Areas. 

Each course includes an evaluation where upon course completion; a certificate is sent via email and saved on the Risk Academy system. A report can be run anytime when logged into TAL Risk Academy for all courses completed to help with maintaining records.

For more information on the FASEA legislative instrument, go to https://www.fasea.gov.au/cpd-legislative-instrument/   

To find out more about TAL Risk Academy, go to https://adviser.tal.com.au/risk-academy  or talk to your TAL Sales Manager.

 

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