From www.smsfadviser.com: Financial Services Minister Stephen Jones has announced reforms to the education requirements for financial advisers to create a sustainable pathway for new entrants to the profession.

The proposed changes will allow prospective advisers to hold a bachelor’s degree in any discipline while still requiring relevant study in financial concepts, reducing the time and costs associated with entering the field.

Additional existing requirements, including completing a professional year and passing an exam, will remain unchanged, and the government will halt the second stage of the adviser registration process to simplify compliance.