Financial Advisers Register moves to stage two

Two months after it was launched at the end of March, the Financial Advisers Register has been beefed up with the inclusion of information about advisers' qualifications, training and membership of professional bodies.

The Australian Securities and Investments Commission said more than 23,000 financial advisers were on the register. There have been 60,000 visits and more than 100,000 searches over the past two months.

When the register was launched it contained information about the adviser's status and experience, current and previous employment going back five years, areas of competence and any bans, disqualifications or enforceable undertakings.

The register is in a transition phase until the end of September, when late fees will apply to any adviser not registered.