Kaplan Professional has reported a substantial rise in both subject enrolments and content engagement through its Ontrack platform during early 2025, reflecting the sector’s commitment to meeting compliance targets by year-end.
Between January and March 2025, Kaplan saw nearly 6,000 subject enrolments as advisers worked to complete the required education before the Dec. 31 deadline.
Concurently, more than 1 million CPD modules were completed through the Ontrack system during 2024, covering over 45,000 learners affiliated with 3,500 corporate accounts.
Brian Knight, CEO of Kaplan Professional, said the commitment shown by advisers in completing their education requirements while maintaining client service standards demonstrates a strong adherence to professionalism.
Advisers are now required to complete 40 hours of CPD each year across five key knowledge areas.
The content must meet legislative definitions of “qualifying CPD,” with structured, expert-led instruction designed to build relevant professional skills.
“The high levels of education and experience, combined with the rigorous requirements for qualifying CPD gives the industry the right to earn the respect they deserve as a profession,” Knight said.
Licensees must support the process through formal policies and ensure at least 70% of adviser activities qualify under the CPD framework.
Digital delivery and flexibility in content formats have become critical, prompting education providers like Kaplan to expand multimedia offerings beyond traditional reading materials.
Ontrack remains a core component for several licensees’ professional development strategies.
Morgans Financial’s Aldo Boccalatte cited the breadth of content as beneficial for their adviser network.
Craig Sankey from IFS noted the platform’s utility for both advisers and support staff, while Sascha Warner of Entireti highlighted its content creation and compliance tools.
The uptick in adviser education coincides with government initiatives aimed at improving public access to financial advice.
As part of the Delivering Better Financial Outcomes package, new measures were introduced to enable simpler and more cost-effective advice for consumers.
A new class of financial adviser will be authorised to provide limited-scope guidance on basic topics, including insurance products and straightforward retirement planning. These advisers will be restricted to products from prudentially regulated providers and barred from handling complex matters such as SMSFs or investment schemes.
Additional reforms include:
Advisers operating under the new category will not be permitted to charge ongoing fees or receive commissions. Licensees will carry additional oversight responsibilities to ensure compliance.
Meanwhile, the Australian Securities and Investments Commission (ASIC) has opened consultation on three legislative instruments that govern how general financial advice is communicated.
The instruments, set to expire in October 2025, include provisions around advertising, oral disclaimers, and the distribution of Financial Services Guides (FSGs).
The regulator is proposing a five-year extension and is accepting submissions until June 12.
The instruments under review are:
Additionally, ASIC launched a revamped AFS Licensing Portal on May 5. The platform allows users to manage licence applications and changes digitally, aiming to streamline interactions through pre-filled data and simplified interfaces, while regulatory requirements remain unchanged.
