While the Register allows retail consumers to search for financial planners' qualifications, training and professional memberships, this alone will not ensure that the adviser you select is free from conflicts of interest. It will not ensure the adviser is truly independent. I hope we will one day see on the Register information which indicates the adviser's status as a tied adviser and/or remunerated by commissions.
ASIC enhances Financial Advisers Register ASIC has now launched the second stage of the Financial Advisers Register (FAR) which now includes information about advisers’ qualifications, training and memberships of professional bodies.The register, which has been available to the public since the end of March this year, can be searched on ASIC’s MoneySmart website www.moneysmart.gov.au. To date there have been more than 60,000 visits and more than 100,000 searches undertaken on the register.There are more than 23,000 financial advisers now on the register. It contains details of persons employed or authorised – directly or indirectly – by Australian financial services (AFS) licensees to provide personal financial advice to retail clients on investments, superannuation and life insurance.