New Kaplan course looks to provide pathway into advice industry

Kaplan Professional has announced a dedicated paraplanning course this week which the industry education provider said is suitable for new and existing paraplanners "and those seeking a pathway into the financial advice industry".

The online advanced diploma of paraplanning course is structured into four subjects — financial planning fundamentals, research, analysis and product recommendations, implement and assess the financial plan, and develop complex (multi-strategy) advice — and provides the knowledge and skill in preparing financial plans for retail clients across life insurance, managed investments and superannuation.

Kaplan Professional CEO Brian Knight said the course was developed after "extensive" feedback from corporate clients and industry professionals and that licensees and financial advisers have wanted to see a dedicated program to address the needs of the modern paraplanner.

“We hope the course will be of significant benefit to the industry because it enables individuals to develop in-depth knowledge and technical skills, as well as the ability to support financial planning practices in developing and maintaining compliant back-office procedures," Mr Knight said.

“The industry is focused on supplementing its talent pool over the coming years, so this course will provide an accessible and suitable pathway for those who want to enter the industry and eventually become a financial adviser.

“The course also provides a pathway into higher education qualifications such as Kaplan Professional's postgraduate financial planning courses and Kaplan Business School’s undergraduate courses."

Enrolments are open now and individuals can start the course at any time.

The new course comes after financial adviser and founder of digital solution Scientiam, Nigel Baker, called on the industry to directly address the issue of attracting new talent on a recent episode of the ifa Show podcast.

Mr Baker said the businesses he speaks with are "flat out" but that the real challenge is attracting new talent and advisers into the sector.

"We've got this real gap of people who just haven't been in the industry and fair enough. For the last 10 years, why would you join an industry that's been bashed around?" Mr Baker said.

"You've got graduates coming out of uni going: 'I don't want to be a financial planner. That doesn't sound much fun.' Then the regulations are really quite tight in terms of bringing graduates into the system. They've brought in all the new educational requirements, but it's almost too specific. It needs to be a little bit broader... anyone I believe who's got a [bachelor of commerce]... or they've had their three or four years at uni, we should be encouraging them to come into the industry."

Listen to the full episode with Mr Baker here.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.