Beau Riley

TAL, a leading Australian life insurance specialist, has reported strong uptake of its Risk Academy Masterclasses designed to help financial advisers prepare for the Financial Adviser Standards and Ethics Authority (FASEA) examinations.

Commencing in early July, the TAL Risk Academy FASEA Exam Masterclasses are travelling across the country, with initial sessions in Brisbane, Newcastle, Melbourne and Geelong fully subscribed and some reporting waitlists.

The TAL Risk Academy FASEA Exam Masterclasses focus on supporting advisers in their preparation for the exam, providing key information to be aware of, guidance on the materials to be across and advice on how to prepare in a way that will maximise the potential for first time success.

Existing advisers are required to pass the examination before 1 January 2021, while new entrants or those returning to the industry are required to pass the exam after they have completed a FASEA approved degree, and before commencing Quarter 3 in their professional year.

TAL Head of Licensees and Partnerships, Beau Riley, said the Masterclasses were playing an important role in addressing confusion and apprehension around the exam process itself, as well as the content the exams will cover.

“We understand this is something which falls outside of most advisers’ day to day experience, and yet it’s an essential step in enabling them to continue providing financial advice to their clients,” Mr Riley said.

“We know there is a huge amount of knowledge and expertise within the financial advice sector, and these courses are designed to help de-mystify the way in which that knowledge will be tested as part of FASEA compliance.

“The response from attendees to date has been overwhelmingly positive. We have had to double our sessions in many locations to accommodate the level of demand, demonstrating the importance of providing this support.”

As part of the FASEA Masterclass, attendees will sit a practice test which helps them feel confident they are well prepared for the exam itself.

The TAL Risk Academy FASEA Exam Masterclasses are led by TAL’s National Technical Managers, David Glen and Scott Hoger, and will continue to be rolled out across the country through to October.

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Beau Riley

TAL, a leading Australian life insurance specialist, is running a series of national education workshops on business insurance advice to help financial advisers to better support their customers in this space.

Run through TAL’s industry leading product-agnostic Risk Academy, the workshops are presented by TAL’s National Technical Manager, Scott Hoger, and they focus on the technical skills needed to create effective business succession plans.

TAL Head of Licensees and Partnerships, Beau Riley, said the workshops were developed to help advisers identify key advice opportunities that exist in their customer base and raise awareness of the importance of business insurance to small to medium-sized business owners.

“Business insurance advice has grown significantly as a new avenue for financial advisers. While there are more than 2.3 million actively trading businesses in Australia[1], research indicates that less than 20% of Australian businesses are equipped with a succession plan[2]. This underinsurance gap presents an ideal opportunity for financial advisers to fulfil their Best Interests Duty and add value to their customers.

“By supporting customers to develop good succession plans, financial advisers can help customers maximise the value of their businesses and ensure they meet future needs.

“There is a clear need for business succession advice and financial advisers with the technical knowledge and skills in the space will differentiate themselves in the market. TAL Risk Academy’s Business Insurance Essentials workshops develop advisers’ skills to help them leverage this opportunity.”

TAL Risk Academy’s Business Insurance Essentials workshops travelled across Australia throughout March, ending in Perth on 21 March. Mr Riley said that feedback around the workshops has been positive, with advisers citing that the case study learning format made the technical topic easier to understand.

TAL Risk Academy will be running Business Insurance Masterclasses throughout April 2019 in Sydney, Brisbane, Adelaide, Perth, Melbourne and Canberra by David Glen, TAL National Technical Manager. The Masterclass carries five CPD accreditations for the Association of Financial Advisers (AFA) and five CPD accreditations for the Financial Planning Association of Australia (FPA).

The Business Insurance Masterclass attracts a small fee that will be donated to the Australian Business and Community Network (ABCN) Scholarship Foundation, a not-for-profit organisation that connects business with disadvantaged children to improve their education.

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