Brokers are coming to terms with the fact that the FSRA will be introduced next week. That’s one reason why NIBA has been flat out dealing with the surge in the number of people wanting to do assessments. National Education Coordinator, Natasha Parker, said that since November, when NIBA announced its loyalty award program for members, there have been 400 enrolments from both members and non-members wanting to do assessments.

“We have been very, very busy, but at the moment we are tracking along quite nicely,” Ms Parker said.

She said course enrolments have also increased since the FSRA implementation date of March 11 was announced. “I guess the best thing is that we have not had to change our courses at all because our courses are of high standard and comply with ASIC requirements,” Ms Parker said.

“People are realising the assessments are the most time efficient and cost-effective way of meeting the new compliance requirements. Training means people have to leave the office. It takes a lot more time and costs more.”

Although NIBA has not encountered any problems so far, she said a month or two before the deadline hits on March 11 2004 NIBA could be faced with a problem of “too many people and not enough assessments”.

“We have just hired a number of new assessors and are advising people to enrol early so they can get their preferred assessment date.”