Fazlur Rahman
Quick Answer
RG146 (Generic Knowledge) is the base Australian financial-services qualification required before anyone can give personalised advice on superannuation, insurance, investments, or SMSFs to retail clients. Issued under ASIC Regulatory Guide 146 and a prerequisite for FASEA's higher Tier 1 education standards, it costs AUD $300-$1,200 in 2026 and takes 3-6 months part-time. (ASIC, September 2026; FASEA, September 2026). Last verified: 12 September 2026.
What RG146 covers and who needs it
RG146 (Generic Knowledge) is the entry-level competency standard that ASIC requires of any individual providing financial product advice to retail clients in Australia. The certification covers the generic knowledge required to advise across multiple financial product categories. You must hold RG146 before you can give personalised advice on superannuation, life insurance, general insurance, investments, or self-managed super funds (SMSFs) (ASIC Regulatory Guide 146, 2026).
RG146 is required by authorised representatives of Australian Financial Service (AFS) licensees, employee representatives of AFS licensees who provide advice, mortgage brokers who give credit advice (a related but separate RG206 credit competency applies), and financial planners moving into mid-tier or limited advice functions. Since 1 January 2019, new financial advisers must additionally complete a FASEA-approved Tier 1 qualification (Graduate Diploma or higher) within four years. Most providers package RG146 and the Tier 1 qualification together.
RG146 cost by provider (2026)
| Provider | Mode | Cost (AUD) | Duration |
|---|---|---|---|
| Kaplan Professional | Online + workshops | $850-$1,200 | 4-6 months |
| SAI Global | Online only | $600-$900 | 3-5 months |
| Mentor Education | Online (self-paced) | $300-$500 | 2-4 months |
| Open Universities Australia | Online (university pathway) | $700-$1,000 | 4-6 months |
| NCVER TAFE pathway | TAFE-based | $400-$800 | 3-6 months |
| CA ANZ / CPA member pathway | Online + assessment | $650-$950 | 4-6 months |
All providers offer monthly payment plans. Member rates (CA ANZ, CPA, IPA) typically save 10-20%. The price includes training, study materials, practice exams, and the final assessment. Re-sit fees are typically AUD $80-$150 per attempt (Kaplan Professional, SAI Global, Mentor Education, September 2026).
RG146 exam format and pass requirements
There is no single national RG146 exam. Each provider runs its own assessment, generally a combination of multiple-choice questions (60-100 per module), case-study written responses (1-3 short-answer scenarios), and a 2-4 hour total time across modules. Pass mark is 70% across each module. Most providers allow 2-3 re-sit attempts within 12 months before requiring re-enrolment. There is no government-issued certificate; the AFS licensee is responsible for verifying the representative's RG146 status and maintaining the training register (ASIC, September 2026).
RG146 vs FASEA: which do you actually need?
| Standard | Required for | Typical cost | Time |
|---|---|---|---|
| RG146 (Generic Knowledge) | Any retail advice on Tier 1/2 products | $300-$1,200 | 3-6 months |
| FASEA Tier 1 (Graduate Diploma) | New advisers from 1 Jan 2019 (comprehensive advice) | $15,000-$30,000 | 12-18 months |
| FASEA Tier 2 (undergraduate) | Limited functions, existing advisers | $3,000-$15,000 | 6-12 months |
| RG206 (Credit) | Mortgage/credit advice | $300-$800 | 2-4 months |
If you are starting a financial-adviser career in 2026, you almost always need both RG146 AND a FASEA Tier 1 qualification. RG146 can be completed first (3-6 months) while you enrol in the Graduate Diploma in parallel. Most providers offer a packaged pathway that covers both (Kaplan, September 2026).
Continuing professional development (CPD)
RG146 is not a one-and-done credential. Once held, you must complete at least 20 hours of Continuing Professional Development (CPD) per year, with at least 10 hours in specialist knowledge areas. ASIC audits AFS licensees' CPD registers; non-compliance is a Tier 2 breach. Most RG146 providers bundle the first year's CPD into the enrolment fee; subsequent years are AUD $200-$400 annually (ASIC, September 2026).
Next steps
If you are starting a financial-adviser career: (1) confirm with your prospective AFS licensee which products you will advise on to determine which RG146 modules you need, (2) choose a provider from the table above, (3) complete RG146 in 3-6 months then enrol in a FASEA Tier 1 Graduate Diploma (12-18 months) in parallel, and (4) track CPD annually (20 hours, 10 specialist) from the day you start advising. For related coverage, see our guide to FASEA education standards and our ASIC approved qualifications list.
How to choose between Kaplan, SAI Global, and Mentor Education
Each Australian RG146 provider has a different cost/structure trade-off. Kaplan Professional (AUD $850-$1,200) is the highest-volume provider and the strongest industry brand recognition; their workshops are well-attended by networking, and their graduate community is the largest. SAI Global (AUD $600-$900) is the cheapest of the three brand-name providers, with fully online delivery that suits self-directed learners outside Sydney and Melbourne. Mentor Education (AUD $300-$500) is the budget option — best for candidates who already work in financial services and just need the certification, not a structured support program. If you are unsure which provider to pick, ask your prospective AFS licensee — most prefer one provider's format over another for internal consistency. Members of CA ANZ, CPA Australia, or IPA should check whether their member rate applies (Kaplan, SAI Global, Mentor Education, September 2026).
