NAB launches advice scholarship

In a statement today, NAB announced the launch of the NAB Future Planners Scholarship in four Australian universities.

The scholarship will be available to students undertaking a business-related bachelor degree majoring in financial planning, and will offer 10 $5,000 scholarships for financial assistance towards studies in financial planning, NAB said.

An invitation to a NAB Financial Planning professional development day and a mentorship with a senior NAB financial planner will also be part of the scholarship program, NAB said.

In partnership with the FPA and the Financial Planning Education Council (FPEC), NAB Financial Planning will also contribute $10,000 towards academic research to grow the body of knowledge in the industry, the statement said.

“The research will focus on the customer experience and understanding more about barriers to seeking advice,” NAB said.

NAB said the aim of the NAB Financial Planning scholarship and research programs are to promote financial planning as a career path, increase diversity and support professionalism.

“Financial advice contributes to the financial security and wellbeing of millions of Australians, and there are many more in the community who could benefit from the help of a planner. We believe these scholarships and research will not only attract great emerging talent into the industry but ensure that more Australians can benefit from advice,” the statement said.

“By championing research in collaboration with our academic partners, we also hope the insights will be used to improve the work the industry does as a whole, and to help more Australians to access advice.”

To increase gender and cultural diversity and attract talent into the industry from regional areas, NAB FP will place particular emphasis on applicants from these demographics, the statement said.

The scholarship recipients will be announced in May.