FASEA unclear why advisers are quitting

FASEA is quite disconnected from the realities of the Market place and now is seeing the first signs of failure of its exam process. The over-all numbers of people passing will now continue to drop as advisers decide its all too hard and leave the industry. Some will just not bother with the exam and leave it to the Government to sort out while they try and get the economy going again.

The drop in respect for FASEA with exam papers full of double meaning questions is also understandable. Why not simply have questions in plain english rather than generated by some twisted academic convolution . 1400 advisers quit in 5 months - it should tell the head of FASEA something.

If all these people with no idea actually listened to the advisers they would know the reason for this mass exodus which I fear will only get worse.

The exam is not fair not by a long shot. To much of it relates to full financial planning issues that a huge majority of advisers do not do or have no idea about. That's why 21% failed. I am more than certain that 99.9% of them all have ethical values under control although from what Ive seen there are too many "trick" questions in trial exams where two or more answers could also be taken as correct?

And you then want these advisers { some with 30 or more years experience } to become educated at great expense and time to do things they are never likely or even want to be involved in. Your asking a GP to become a brain surgeon.

Problem A NO ONE IS REALLY LISTENING

Problem B NO ONE SEEMS TO CARE ANYWAY SO NOTHING GETS CHANGED.

Dear me We have just beaten a monumental plague but cannot sort out a useless exam.

Until there is some real change and thought put into this it will only get worse.

Hello! 'Not sure why advisers are quitting'? FASEA and its promulgators really do live in ivory towers, don't they? With reduced commissions for new business, massively overkill compliance and insanely over-the-top qualifications for advisers, especially for those who specialise in life-risk, in 30 seconds I've given you three key reasons why advisers are quitting. And with all of academia pondering this, why don't they pull their heads out of the sand and in short order they would find the reasons. Better still, take note of what we've said here.

Should have been completed through normal on-line CPD.

The need for an exam to be completed for advisers who have been in the industry for many years makes no sense.

What other profess suddenly says do this exam or you can no longer practice until you pass.None.

I am one of many who will simply not sit the exam under protest.

Of course the head of FASEA can't say why so many are leaving. FASEA is the problem.