Distance Ed, Open learning
- Thread starter Casserole Dish
- Start date
I know this is an old thread but dont't waste your time with the introductory course, you'll be fine with the diploma course, although it gives a good understanding of financial planning its pretty straight forward and can be done by most people, especially if you have even the slightest idea about investing.
Just to clear it up, the Diploma of Financial Planning no longer exists. This is the one that used to be offered by several universities.
The course now is the Diploma of Financial Services (Financial Planning).
This will make you RG146 (PS146) compliant.
I'm not sure about the most respected but it would be the most widely known. There's bucket loads of places that offer the course.
Do a search on the ASIC web site for approved courses.
http://www.asic.gov.au/eTraining/eTrain.nsf
I did mine through RG146 training Australia in a class room environment.
The majority of the class was from either AMP/Westpac/St George/or an Insurance company. I know AMP and Wespac have their own inhouse training as well. Try googling for AMP Horizon Academy.
I dare say you'd be pushing the proverbial uphill to land a planning job once finished the DipFS(FP). Nowadays you probably going to need either a degree of some sorts relevant to FP, some back office experience relevant to FP or experience as a paraplanner.
Its pretty basic stuff and even the Advance DipFS just adds another 4 topics.
Just to clear it up, the Diploma of Financial Planning no longer exists. This is the one that used to be offered by several universities.
The course now is the Diploma of Financial Services (Financial Planning).
This will make you RG146 (PS146) compliant.
I'm not sure about the most respected but it would be the most widely known. There's bucket loads of places that offer the course.
Do a search on the ASIC web site for approved courses.
http://www.asic.gov.au/eTraining/eTrain.nsf
I did mine through RG146 training Australia in a class room environment.
The majority of the class was from either AMP/Westpac/St George/or an Insurance company. I know AMP and Wespac have their own inhouse training as well. Try googling for AMP Horizon Academy.
I dare say you'd be pushing the proverbial uphill to land a planning job once finished the DipFS(FP). Nowadays you probably going to need either a degree of some sorts relevant to FP, some back office experience relevant to FP or experience as a paraplanner.
Its pretty basic stuff and even the Advance DipFS just adds another 4 topics.
My firm is lookng for a junior paraplanner now, and are leaning towards people that only are finsia/kaplan for dfp/adfp
Shady the "intro course" mentioned is actually a university level course, not a course at the local library or a Cert IV level course which is just above primary school level.
Online or with the private providers, pretty much anybody who can read or write will be able to get a Cert IV or Diploma in FS (including the ones mentioned above) and that's why I agree with you about pushing it uphill getting a job based on those qualifications.
Whereas a university level intro course (graduate or post graduate) will likely teach you much more as they are little more attuned to grading by achievement, rather than fees (most times).
Of course doing a diploma will skip the intro level if you enrol at uni, which is really the only option for a newcomer in the market imo.
Those with a current degree of course can do a few modules for postgrad qualification.
As a side note, the level of qualification does'nt mean the students are smarter.
I did some postgrad with senior managers of all four banks, IAG, Quantas, Motorola etc and most of them were just keeping the seat warm.
A few would get the PAs and staff to actually write their reports & assignments, rather amusing what shareholders get for >200k yr manamgement staff.
A few could'nt even describe what they actually did as a job...
Online or with the private providers, pretty much anybody who can read or write will be able to get a Cert IV or Diploma in FS (including the ones mentioned above) and that's why I agree with you about pushing it uphill getting a job based on those qualifications.
Whereas a university level intro course (graduate or post graduate) will likely teach you much more as they are little more attuned to grading by achievement, rather than fees (most times).
Of course doing a diploma will skip the intro level if you enrol at uni, which is really the only option for a newcomer in the market imo.
Those with a current degree of course can do a few modules for postgrad qualification.
As a side note, the level of qualification does'nt mean the students are smarter.
I did some postgrad with senior managers of all four banks, IAG, Quantas, Motorola etc and most of them were just keeping the seat warm.
A few would get the PAs and staff to actually write their reports & assignments, rather amusing what shareholders get for >200k yr manamgement staff.
A few could'nt even describe what they actually did as a job...
Shail the CFA course is massive. about 50% of people fail and there is a lot of study involved - I think you need a 70% mark to pass as well.
I wouldnt undertake this lightly as a lot of accountant friends have done it and it is hard - harder than CA/CPA.
Thanks Belu. I thought the same afterwards, I am not planning to do any career in FP. But more interested in the knowledge.
will start the kaplan course soon, and will update here on how it goes.
Going to register it next week. little nervous to start, not sure if i will complete with my other commitments. but got to do it!
Well, I have registered and got my study material today. first subject is foundation of FA. it has 8 modules with around 45 pages each.
Looks like a huge task specially with keeping my day job. let see how it goes.
I had the similar doubts but after looking at the material, most of the things it has is what we need to be a good investor.
If I spend more time learning now, i will save lot of time later in the life.
Looks like a huge task specially with keeping my day job. let see how it goes.
I'm just waiting to do it really. Part of me doubts that I should be doing it, as it's not going to help me career wise but I think you just have to look at it as helping us make money work for us!
Hopefully I will put in to register next month
I had the similar doubts but after looking at the material, most of the things it has is what we need to be a good investor.
If I spend more time learning now, i will save lot of time later in the life.
I could use a more useful qualification by distance myself, so I have the option of a part-time job out here. Work pops up reasonably often for passably related roles run by Wesley United (a Christian mission) for counsellors, financial advisors - the sort that gets poor people out of sticky situations, not the sort that gets people richer - and similar kinds of helpy roles. I wonder where you'd start looking for a distance course to suit jobs like that? I applied for one a while back and didn't even get a look in, funnily enough.
Haven't registered yet. So many things going on at the moment, can't spare the extra cash but still hoping to start it soon!!
I am going to go with Kaplan, the course seems to cover alot of what I want and Shail has confirmed that the content has alot in there to do with investments.
Dont ask!
After successfully procrastinating
for few weeks, had no excuse on easter break. finished 4 modules reading and solving questions.First subject Fundamentals of FP has 9 modules, around 350 pages. starts with some basic stuff like, how to talk to client, and process of FP and advisory skills required, OHS etc.
3rd module is about our economy and 4th is taxation - I found this very informative. 5th is investment fundamentals. Rest modules are about the financial products and estate planning.
All modules have questions/activities and reading reference material.
As a migrant to this country and with very basic knowledge on accounting/economic I think the course will help me a lot.
All the best for whatever decision you make.
Never thought of this. Was there any selection/skill requirement in the job you applied?
Have you checked on this http://www.goingtouni.gov.au/ ?
Dont ask!
After successfully procrastinating
First subject Fundamentals of FP has 9 modules, around 350 pages. starts with some basic stuff like, how to talk to client, and process of FP and advisory skills required, OHS etc.
3rd module is about our economy and 4th is taxation - I found this very informative. 5th is investment fundamentals. Rest modules are about the financial products and estate planning.
All modules have questions/activities and reading reference material.
As a migrant to this country and with very basic knowledge on accounting/economic I think the course will help me a lot.
All the best for whatever decision you make.
glad you are finding it informative. i too am a migrant si i undrstand what you mean!
so are you following this:
FNS50107 - Diploma of Financial Services - Financial Markets pathway
or
FNS50804 - Diploma of Financial Services (Financial Planning)
at the same time i wonder whether i should be looking at something different. i really want to learn some accounting too....kind of how to vary tax for PAYG, investing through super, trust etc... for the tax kind-of-thing I only need to be shown once and ill understand it. my accountant obviously dosn't really want to show me how its done as i wont be asking her to do it anymore
I am doing FNS50804 - Diploma of Financial Services (Financial Planning)
I think you will get some ideas of what you are looking for by doing this course. but what i learned is, only study is not enough, you will have to talk to people, ask questions through forums like this one. the course will help you to ask the right questions
I think you will get some ideas of what you are looking for by doing this course. but what i learned is, only study is not enough, you will have to talk to people, ask questions through forums like this one. the course will help you to ask the right questions
thanks Shail! yes i agree with what you said. and yes this forum has defenitely answered alot of questions i had but sometimes its not enough.
I'll have a think about it........ my fear is that i do not have enough spare time to be able to take on such a full on course.
thanks for the help
I'll have a think about it........ my fear is that i do not have enough spare time to be able to take on such a full on course.
thanks for the help
