Updates to your professional listings on ASIC and increasing customer reviews.
Your Status Badge may have changed because:
- Your FAR professional listing information has changed or become outdated
– Your qualifications or memberships may have lapsed
– Your ASIC license status or authorisation details may have been updated or removed
– Profile sections may have become incomplete or inconsistent - We detected missing or inconsistent data
If you've changed licensees, switched professional associations, amended qualifications or taken time away from advising, our systems may be awaiting reconfirmation from ASIC of your current details. While your updates may appear on the Financial Advisers Register, our system is yet to receive the updated information. - We’ve updated our or ratings system
In 2021, we introduced significant improvements to how Adviser Status is calculated—highlighted in the white paper 'The evolution of the Adviser Ratings Scoring. If your badge changed around that time, this likely reflects our system-wide recalibration.
This was a large-scale review of the Financial Adviser Register which found some significant discrepancies, mostly around professional memberships and qualifications, which are metrics used by licensees, regulators and FASEA to measure compliance on new professional standards.
Tapping into more accurate sources of information ensures our updated system recognises the proactive steps (or lack thereof) taken by advisers, in turn, creating a better set of signposts for consumers to have trust in the advice market and to help them find the right adviser for their needs.