Financial advisers need to avoid ‘last-minute scramble’ for education deadline: Kaplan

Kaplan Professional has encouraged all financial advisers to avoid a “last-minute scramble” in meeting education requirements ahead of the upcoming deadline.

As previously stated by the Australian Securities and Investments Commission, financial advisers who are existing providers have until 1 January 2026 to meet the qualifications standard in the Corporations Act.

This can be met by either completing an approved qualification, by completing qualifications the minister has determined to be equivalent to an approved qualification for existing advisers, or by accessing the experienced provider pathway.

In the lead-up to this date, Kaplan is urging all existing advisers who do not meet the 10-year experience pathway to have a clear understanding of their individual requirements.

It reminded advisers that those who need to meet the education deadline have just five study periods or 10 months remaining next year to complete these requirements.

The five key study periods for 2025 are:

• Study Period 1 – starts 13 January 2025 (early access available from 16 December 2024).
• Study Period 2 – starts 10 March (early access available from 10 February).
• Study Period 3 – starts 5 May (early access available from 7 April).
• Study Period 4 – starts 30 June (early access available from 2 June).
• Study Period 5 – starts 25 August (early access available from 28 July).

With more than 300 individuals commencing their studies for the first time in each study period this year, Kaplan noted that there is still a substantial amount of study left to complete ahead of 31 December 2025.

Brian Knight, chief executive of Kaplan, said one of its major focuses this year and next year will be assisting advisers in meeting these requirements.

“There have been large numbers of subject enrolments every study period and the number of enquiries about education pathways and individual requirements has increased significantly,” he said.

“The feedback from advisers is that they are keen to avoid a last-minute scramble – we are seeing many who are enrolling in multiple subjects per study period or consecutive intakes.”

Knight added that Kaplan has been contacting licensees and individual advisers to frequently advise them about education pathway progress, such as how many subjects are left to complete and mapping out personalised study plans.

“At our end, we are doing everything in our power to support advisers and licensees in the race to the finish – we are putting on more individual tutor sessions for every subject and have a dedicated team in place to support advisers with their education pathway and individual requirements.”

For those who still need to meet the 2025 education deadline, the CEO said: “Whether they have not started their studies, have completed some study with another education provider or are currently studying with Kaplan Professional, it is recommended that they make contact with Kaplan Professional as soon as possible.”

The experience pathway was passed over a year ago in Parliament on 6 September 2023, which provides a way for those with 10 years’ experience or more to continue advising without the need to hold an approved degree.