Jump to content

Want to become a financial planner
advice please


  • Please log in to reply
4 replies to this topic

#1 cornflake head

Posted 04 December 2012 - 04:00 PM

Hi Everyone,  I have been thinking about becoming a Financial Planner since 2008 (right before the GFC hit - put it on hold).  I live in regional WA at the moment, but we should be moving back to a main city in the next 3 or so years.  I have a business degree in Human Resources and around six years experience in HR/Payroll etc.

I am after any advice on entering the financial planning industry, all the jobs I find online require industry experience or paraplanner experience - what counts as "industry experience"?

Also, am I better off to do my Diploma Financial Services and then try to find an employer who would support further study, or jump right in and begin my Graduate Diploma of Financial Planning with no experience (costing around $16,000).....

Any insights/advice would be appreciated!

#2 Melly23

Posted 04 December 2012 - 07:14 PM

Hi cornflake head,

I work as a Paraplanner - I work in a small financial planning firm 2 days per week and also do contract work from home.  I worked as a Paraplanner then Financial Planner from 2000 to 2003 before leaving to start my family.  I graduated with my Diploma of Financial Planning (DFP from the Financial Planning Association) at 8 months pregnant!!!

Three kids later, I found myself "unemployable" as relevant industry experience necessitated having worked for 5 of the last 8 years.  So I set about doing the Diploma of Financial Services (essentially the same as Units 1-4 of the old DFP) with Kaplan Education.  It is distance education, the only requirement being travelling to one of their offices to sit the end-of-unit exam.  However, I think you can sit that externally if you pay a fee and arrange to have an impartial third party oversee you.

In my experience, potential employers appear to focus on the actual qualification - being RG146 compliant.  Most job advertisements seem to outline they want a candidate with DFS or ADFS.  Some specify degree qualified - do you already have a business degree of some sort?

If I were starting afresh, I would probably jump in and do the Diploma of Financial Services initially.  You can either do the final four units to attain the Advanced Diploma, or you might be lucky to find an employer who supports further study.  At least with the DFS you have a starting point.

Google DFS or even have a look at the Kaplan website.  Perhaps even look at some of the major companies' websites (AMP, Colonial, etc.) because some of them offer 12 month on-the-job training type scenarios.

Good Luck  original.gif

#3 lozoodle

Posted 05 December 2012 - 05:46 AM

I worked in a wp role at a financial planning place and did my DFP through them and they paid for it. Though in the end i realised it held no interest for me and moved over to the legal industry and did wp there instead lol

But you will find a lot of places would be happy to support you doing this course.

#4 cornflake head

Posted 07 December 2012 - 12:43 PM

Thanks Melly23 and lozoodle,

I have also had a couple of replies from local banks advising me to do my DFP initially, then once I am in the industry complete further study (yes Melly I have a business degree) so would then do my Grad Dip.  So everyone concurs, that makes my decision easy, will enrol in my DFP early next year!  smile1.gif

Thanks Again.

#5 Melly23

Posted 07 December 2012 - 12:57 PM

Great to hear you've made a decision and got a plan in place.

I wish you well with your studies.  Feel free to PM me if you want to.  I also found the invested website quite helpful.  They have a specific forum for people undertaking RG146 studies.

Good Luck  original.gif




1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users

 

WIN an exclusive performance from Sam Moran!

To celebrate the release of children?s musical series Play Along with Sam, out now on DVD, we?re giving one lucky parent the chance to have Sam perform at their child?s pre-school or day care!

Toddler freed after getting trapped in escalator

A shopping centre escalator needed to be pulled apart to free a toddler's trapped hand.

Why I'm kind of excited about my daughter's nits

Is it weird to say that I am secretly thrilled to find that my daughter Edie has nits?

Baby born at 10:11 on 12-13-14

Well, it's actually 13-12-14 to us over here. But still, Clare Elizabeth Keane's consecutive numerical birth time is pretty special.

On holding tightly and loving fiercely

We can't live in fear. This post is about Christmas and how at this time we should be celebrating life and grateful for what we have: our loved ones who we cherish fiercely.

Babies, relatives and coping with Christmas day

Everyone will love your baby but your baby may not be so happy to be passed around a lot of new people - nor may you want to feed with an audience.

Why I won't be posting pictures of my baby on Facebook

There are pros and cons to this policy.

The myths and truths of gender swaying

Here are a few popular methods hopeful parents-to-be use to try to get a baby of their preferred gender – and what an expert says about whether they really work.

10 easy DIY Christmas decoration ideas

It's officially time to get into the Christmas spirit. Why not branch out when you put up your tree this year and add a personal touch with a few DIY decorations? We've found the perfect easy-to-make ways to put more festive fever into your home.

The dangerous new trend of glucose challenge test refusal

A dangerous trend is seeing more mothers-to-be declining a relatively simple and painless test to check for gestational diabetes.

Office of Fair Trading reveals naughty toys ahead of Christmas

The Office of Fair Trading has pulled seven toys from shelves ahead of Christmas after they fail safety tests.

Video: Baby boy's trouble with twins

These twin girls will no doubt have fun fooling people in years to come, but nobody will be as confused as baby Landon.

Long-term reversible male contraceptive on its way

Men could soon have access to an injectable long-term contraceptive which works in a similar way to a vasectomy but promises to be easily reversed.

'I tried to kill my baby': one mum's story

After bathing and dressing her three-month-old son, Amanda had a rare moment alone with her baby.

Attack of the 'mummy brain'

I feel that almost every day, someone in my life - be they a friend, family member or complete stranger - feels the need to excuse my behaviour as I have other things on my mind.

Mum of baby who fell ill after drinking raw milk speaks out

A Melbourne mother has described how her son turned grey when he became seriously ill after drinking raw milk.

Australian divorce rate lowest since 1976

Modern newlyweds are now well into their 30s and marriage still offers something powerful a new book argues.

The aftermath of a traumatic birth experience

In Australia, 30 per cent of women find their birth experience traumatic, with 6 per cent going on to develop post traumatic stress disorder (PTSD).

Young mum burns 'from inside-out'

A young mum is in intensive care after she took a friend's antibiotic and wound up with an ailment that is burning her body 'from the inside-out'.

The disagreement that can break a relationship

If he doesn't change his mind, all I can hope is that I will. It would be a waste to spend the rest of my marriage mourning a baby that never was.

Download now: Essential Kids Activity Finder app

Got bored kids? Quickly find the best activities for kids wherever you are in Australia with the Essential Kids app.

 
Advertisement
 
Advertisement
 
 
 
 

How many weeks til Christmas?

On your To-Do list

Get the "Santa" shopping done without the kids in tow.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.