In an attempt to standardise advisers professional listings, we have imported details from ASIC's Financial Advisers Register.
Firstly, ensure all your professional listings with ASIC are current including your:
- Memberships to various industry and professional associations
- Qualifications
- Years of experience in the industry
- Compliance checks in place
Only the details that appear on the register will be displayed on your adviser profile and contribute to your adviser score.
You can cross-check these details by searching for yourself at the ASIC register here
Any updates to these listings should first be made with ASIC (your licensee can usually do this on your behalf), then the new information will flow through to your Adviser Ratings profile after our next regular update.
Other tips for improving your score are:
- Joining a professional association and ensuring your membership is currently listed on ASIC's Financial Advisers Register.
Memberships to one of the main adviser organisations involves an adviser committing to ongoing CPD and ethical training plus your qualifications and years of experience are the core contribution to your score.
Being a member of a TierOne Association (See left) provides the highest weight to your adviser score:
*Please reach out to our team at admin@adviserratings.com.au with any questions on your association membership weighting.
- Encouraging clients to leave a review
Getting positive client reviews is an easy way to increase your AR score, as is joining one of the main adviser membership organisations. Customer reviews make up a maximum of 20% of your total score. - Ensuring CPD requirements are completed
- Completing a FASEA approved qualification
FASEA approved bridging courses may be listed on ASIC register where an older qualification may have lacked FASEA approval and is taken into account with status ratings algorithm.
The following chart shows the distribution of badge status scores across Australian advisers:
As you can see, Platinum advisers make up only 2% and this requires high level qualifications, memberships and FASEA approved education standards. Please see the below example of how a Platinum adviser may present on ASIC's financial advisers register. This adviser also has a high consumer rating and 40+ reviews.
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If you have any questions, or wish for more details on how to improve your score, please forward them to admin@adviserratings.com.au where our service team is always ready to help.