Financial advisers who are existing providers and intend to provide personal advice to retail clients about relevant financial products after 31 December 2025 are running out of time to:
- ensure that they meet the education and training requirements,
- review the accuracy of their information recorded on the Financial Advisers Register, and
- ask their AFS licensee to notify ASIC of their qualifications, or if eligible, that they are relying on the experienced provider pathway.
*NEW* step by step instructions and trouble shooting tips
ASIC’s new webpage, Updating the Financial Advisers Register – Qualifications and training details, includes step by step instructions on how to review the one-off data set published by ASIC and provides information on how to update any incomplete or inaccurate information by submitting a maintain (update) transaction via ASIC connect. It also includes some trouble shooting tips.
ASIC encourages AFS licensees and relevant providers to double check the data using these new instructions.
For the urgent actions required from relevant providers who are also existing providers, see also ASIC urges immediate action from financial advisers as deadline approaches.
Implications for not meeting the qualifications standard by 1 January 2026
For relevant providers who are also existing providers and who do not meet the qualifications standard by 1 January 2026, their AFS licensee should consider ceasing their authorisation on or before 31 December 2025 to avoid consequences to the existing provider status.
In accordance with the legislation, if the relevant providers remain authorised and their authorisation ceases by operation of law on 1 January 2026, they will be required to compete a professional year and obtain an approved degree or equivalent qualification set out in Schedule 1 of the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021 before they can provide personal advice to retail clients again. They will be unable to meet the qualifications standard by accessing the existing provider pathways as set out in Part 3 of the determination.
AFS licensees are responsible for ensuring relevant provider records are accurate and up to date on the Financial Advisers Register.
ASIC’s latest spot-check
A review of the information on the Financial Advisers Register shows:
- As of 20 November 2025, of the 15,469 relevant providers on the Financial Advisers Register, AFS licensees have notified ASIC that 7,959 hold an approved degree or qualification, 4,212 are relying on the experienced provider pathway, and 972 are recorded as holding both an approved degree or qualification and relying on the experienced provider pathway.
- The remaining 2,326 relevant providers have yet to meet the qualifications standard according to the information currently recorded on the Financial Advisers Register. Of this cohort, 836 may be eligible for the experienced provider pathway, but their AFS licensees are yet to notify ASIC of this.
- 827 relevant providers who are also existing providers, unless exempt, will need to complete the specified courses in commercial law and taxation law to continue to provide tax (financial) advice services from 1 January 2026.
The Financial Advisers Register is an important register for consumers when making a decision about whether to engage the services of a relevant provider.
More information
- Maintain (update) or correct a relevant provider’s details
- Updating the Financial Advisers Register – Qualifications and training details
- Qualifications standard: This includes a table that gives some examples of outcomes for financial advisers who are existing providers related to meeting or not meeting the qualifications standard by 1 January 2026.
- Applying the professional standards: This includes scenarios to show how the professional standards apply to financial advisers, depending on an individual’s circumstances.
- Assessing financial adviser qualifications: For information on how AFS licensees should assess the qualifications of their financial advisers and input this information into the Financial Advisers Register.
- INFO 281: Accessing the experienced provider pathway: For information on the experienced provider pathway.
- Providing tax (financial) advice services: For information on providing tax (financial) advice services.
- ASIC urges immediate action from financial advisers as deadline approaches
- ASIC renews warning for AFS licensees ahead of deadline for financial advisers
