The Stockbrokers and Financial Advisers Association’s (SAFAA’s) RG146 accredited courses are uniquely designed for those in the securities and derivatives industry. They set the standard that employers, regulators, and the investing public expect from individuals who are employed within this industry, offering training for:

• those employed in the securities and derivatives industry providing financial product advice in the course of their work (general advice) or who need an understanding of the industry in which they work
• customer service representatives providing financial product advice in the course of their work
• Responsible Managers
• experienced practitioners for CPD purposes.

They also meet the requirements for Market Participants in relation to DTR training and maintaining high standards of REs in relation to key clearing and settlement requirements.

RG146 applies to licensees and advisers who:

• provide general advice in securities, managed investments, derivatives, foreign exchange, margin lending or superannuation
• are already listed on the Financial Advisers Register and wish to add an additional RG146 specialist knowledge area to their existing credentials, and
• licensees whose representatives provide advice to wholesale clients (optional under RG146.35).

Graduates will develop detailed knowledge of the securities and derivatives industry, gain a broad understanding of the finance and investment sector and the products that are integral to it.

For each course completed, individuals will receive RG146 and FASEA Continuing Professional Development (CPD) hours.

FASEA education requirements must be completed by 1 January 2026 by any adviser providing personal financial advice to retail clients.

FASEA recognition of Diploma in Stockbroking as approved RPL

FASEA has recognised the SAFAA Diploma in Stockbroking, number of subjects = Core 1 + 1 Elective, as eligible for one credit toward the FASEA education requirement (irrespective of which elective was undertaken) — see the FASEA approved recognition of prior learning (RPL) list. Those who have completed the Diploma up till July 2019 can claim one credit for it towards their FASEA education requirements.

However, while the historical diploma is recognised as RPL, anyone now undertaking SAFAA’s courses (formerly known as the Professional Program) cannot be awarded the extra credit toward the FASEA education requirements.

Core 1: Securities & Managed Investments

The Stockbrokers and Financial Advisers Association Core 1 Securities & Managed Investments course provides candidates with the specialist knowledge and skills relevant to the provision of financial product advice in Securities and Managed Investments. This course focuses on the relevant market participants, product types, characteristics and applications. It looks in-depth at asset classes and their use in investment portfolios, reviews investment manager styles and the use of alternative investment strategies and benchmarks. Candidates are introduced to basic techniques for analysing product performance and making investment and trading decisions in relation to product types. The benefits and risks associated with the different securities and managed investment products are explored. The regulatory and taxation issues affecting the use of securities and managed investment products are outlined.

The Core 1: Securities and Managed Investments course also introduce candidates to the skills requirements for retail client advisers under (the former) ASIC RG146 requirements. Candidates learn techniques for identifying and analysing client needs and objectives, developing a client risk profile, conducting relevant research and developing appropriate investment strategies to meet client’s needs using securities and managed investment products. For experienced client advisers, this section of the Core 1 course provides a useful refresher in preparation for the Statement of Advice to be completed as part of the assessment.

Accredited Derivatives Adviser Level 1 (ADA1)

The subject content in this course examines in detail the derivatives sector of the finance and investment industry and the range of market participants and product types. The characteristics and uses of various derivative products are considered in-depth in order to determine their suitability and application in a wealth creation strategy. The regulatory and taxation environments affecting the use of derivatives products are also outlined.

The course covers:

• taking options
• selling options to close out a taken position
• subscribing for and buying and selling warrants
• exercising warrants and options
• writing covered call options (i.e. where the client owns, or at the same time as writing the calls buys, the underlying shares and lodges those shares with ASX Clear.)

For experienced practitioners it is an opportunity for a useful refresher for the purposes of CPD.

Accredited Derivatives Adviser Level 2 (ADA2)

The course covers:

• writing options (other than for the purposes of closing out a taken position, or writing covered calls)
• taking or writing LEPOs.

Students need to have completed Accredited Derivatives Adviser Level 1 before enrolling in this course.

Superannuation

The Stockbrokers and Financial Advisers Association’s Superannuation course provides candidates with the specialist knowledge and skills necessary to understand financial product advice relevant to superannuation. The course content examines the development of superannuation together with the legislative basis, the industry structure and market participants. This is followed by an examination of the investment rules and tax basis of superannuation – often the key features of a superannuation fund as far as clients are concerned.

Advisers need to understand about advice to clients to put money into superannuation (contributions) and taking money out (though lump sums or pensions). Particular focus is given to small funds and those funds where there may be direct equity investments. Superannuation is a major plank in the government’s policy to make Australians more self-reliant in retirement and the final topic examines retirement planning and the interaction of superannuation with the social security system.

FASEA education requirements must be completed by 1 January 2026 by any adviser providing personal financial advice to retail clients.

For experienced practitioners it is an opportunity for a useful refresher for the purposes of CPD.

Margin Lending

Margin Lending is explicitly included as a financial product for the purposes of Chapter 7 of the Corporations Act.

Defining margin lending as a financial product has a range of consequences, including that providers of financial services in relation to margin loans are subject to the licensing, conduct and disclosure requirements in Chapter 7. Margin lending providers must ensure that their representatives are adequately trained and competent.

Advisers on margin lending must fulfil the training requirements set out in RG146 which sets out minimum standards for the training of those providing general advice at Tier 1 level.

The Stockbrokers and Financial Advisers Association’s Margin Lending course meets all ASIC requirements. The Margin Lending course covers: Gearing; Margin Lending; Alternative means of achieving geared exposure; Tax deductibility of the interest; Franked dividends; and Capital Gains Tax as well as Compliance topics.

For experienced practitioners it is an opportunity for a useful refresher for the purposes of CPD.

Foreign Exchange

The Foreign Exchange (FX) course is designed to develop an understanding of the environment in which the products operate and the financial products themselves. This is not just for advisers but also advisory staff who deal with wholesale clients – not institutions, but high net worth individuals who would be classed as sophisticated investors, and who deal in some of the products that would not normally be traded by retail investors – such as spot transactions, forwards and currency options.

The FX course covers FX markets, FX exchange products, taxation, and compliance.

For experienced practitioners it is an opportunity for a useful refresher for the purposes of CPD.

How does the process work?

These courses are administered by the Stockbrokers and Financial Advisers Association (SAFAA). Enrolments close at 3.00pm every Monday Sydney time.

• Candidate enrols online/registration is received.
• Candidate receives Welcome email from SAFAA on Tuesday with accreditation information/study materials.
• Candidate completes and returns ‘Exam Booking Form’ to schedule their exam day/time. This must be done at least 3 days prior to exam.
• SAFAA releases exam/closes exam at designated day/time.
• The Candidate’s approved Supervisor supervises exam and returns the ‘Declaration by Online Exam Supervisor’ to SAFAA. Results will not be released until SAFAA has received the completed ‘Declaration by Online Exam Supervisor’.
• Candidate receives result (results are released within 1 working day). Candidate receives Certificate (Certificates are issued end of each month).

Please ensure that the course you intend to enrol in is one you are required to undertake and are committed to completing, as fees are non-refundable. Substitutes are welcome within the enrolment period. 

Useful downloads

Please go to each course page to enrol directly online.

PDF Enrolment form

Supervisor Guidelines

• Application to be an Online Exam Supervisor (to be completed and returned by new Supervisors)
• Declaration by Online Exam Supervisor (to be completed and returned by Supervisors following supervision of a candidate’s online exam)

SAFAA Exam Booking Form (to be completed and returned by candidate at least 3 days prior to them sitting their online exam)

Summary of Assessment

Academic Misconduct Policy (individuals who enrol in a SAFAA course are bound by our Adademic Misconduct Policy)

All enquiries & applications should be directed in the first instance to:

Stockbrokers and Financial Advisers Association (ABN 91 089 767 706)
Level 5, 56 Pitt Street, Sydney NSW 2000
Telephone: (02) 8080 3200
Fax: (02) 8080 3299
Email: accreditation@stockbrokers.org.au

Enrolments close at 3.00pm every Monday Sydney time.