No, and the concept of a "respec" is completely alien to a skill based game like crowfall or eve.
Time = skill points in whatever skill(s) you've set to train. They opted to keep classes in lieu of a classless system like eve so they are already behind the curve, but it's understandable since limited budget for animations.
You pick class, not respec-able
You pick promotion(basically your advanced class specialty), think they said this is perm choice also, but it is the last time you can fudge with your advantage/disadvantages from character creation.
You pick (up to) 3 disciplines, they said you can always overwrite previous disciplines but you lose the previous. Disciplines are like runes/augments. Items you find that give you new class abilities.
So back to how skills interact with the class system they are going with.
You start up a character and based on race/class/advantage/disadvantages you chose, he has certain skill caps.
Lets say you pick knight, and you have a cap of 85 in "longsword" and you spend all your time training it to max. But then you get enough skills in other things to unlock promotion classes(whatever they decide, maybe its all primary class skills at 50% of max, ie 1 week of training), and you decide you want to promote to archer. This promo class adds to your skill max for archery, so instead of 50 max as a knight, you can now take it to 100.
The 85 points you have in longsword are always gonna be in longsword, you can't respec. Promoting to archer instead of, idk knight champion, added to your archery max instead of addingto shield and longsword. You will have "wasted" points ie wasted time in longsword vs a min-maxed archer, but you will be better than a min-maxed archer using a sword.