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The confidence of many investors have been affected by the global credit crunch. At this time many investors are asking whether their financial adviser had sufficient knowledge given the fall of their investment portfolio. In Australia to give advice on investing requires specific RG146 / PS146 training. An adviser needs not only to have done these ASIC accredited courses but they also need to be acting under the auspice of a license holder. There are various aspects of ASIC training. It is not necessary that all aspects are held by any one adviser. For example an adviser giving advice on derivatives needs to hold the RG146/PS146 qualification in derivatives but does not need to hold the RG146/PS146 qualification in insurance broking for example.

There are advantages for investors with a market fall and that is that prices of shares are more accessible. In actual fact buying when shares are low is the right time if an investor has the confidence that the market does not have further to fall. A large bank for instance is using the difficult time for smaller banks by buying them up when they are cheap and vulnerable. The PS146/RG146 courses train advisers in these areas. They also train them in various skill areas to deal with clients that are angry, uncertain or scared because of what has happened to their investment portfolio.