Demand for skilled paraplanners has increased significantly as advisers deal with soaring admin time in the face of regulatory change.
Financial Advisers are no longer able to ‘do everything themselves’ because the advice delivery process has evolved beyond its simple beginnings to a highly sophisticated, complex and at times confusing infrastructure.
This is an indication of how the financial advice industry has moved away from RG146 and towards genuine educational pathways into the industry, thereby helping lift it as a profession.
It’s great to see an old adversary (from my Integrity Education days) making a go of it – well done to Nick Chapman and the Monarch team for leading the charge.
It is now possible, as it should always have been, to compete:
* Advanced Diploma of Paraplanning
* Credit toward Undergraduate Degree (FASEA approved)
* Commence work in a financial planning practice as completing Degree
* Enter Professional Year upon completion of Degree
* Complete FASEA Exam during Professional Year
* Complete Professional Year
… and then be registered as a Financial Adviser on the ASIC Financial Adviser register.
This is now a genuine education and practical work experience pathway, completed over a realistic timeframe (ie 3-4 years depending on a range of factors).
What better way to create Financial Advisers of the future that are competent and committed to the profession.