Becoming a financial planner in Australia is a three-stage process. You need to obtain the required educational qualifications followed by a year of supervised work and clearing the financial adviser exam by ASIC (Australian Securities and Investments Commission).

To start with, you need a Bachelor’s degree in Finance or related subjects like economics, business, commerce and accountancy. Though a Master’s degree is not required, it is good to gain one in a relevant major. You can also opt to do advanced diploma purses in financial planning from reputed organizations like FPA. 

After graduation, the next step is to find an entry-level job in financial planning with an AFS licensee. This professional year must include 1600 hours of supervised work which again should include 100 hours of structured training.  

The last step is to clear the ASIC examination. You need to pass this exam before the start of the third quarter of your professional year. This test is three and a half hours long with 64 multiple choice questions and 6 short answer type questions.