Financial planning – a growing industry
The financial services industry is an exciting, fast-changing industry. It’s quietly transforming the futures of millions of Australians. And you’re about to be a part of it.
The financial services industry is in the midst of a revolution. Technology is changing the way clients get advice. There’s a trend towards online advice; it’s more accessible and affordable for lots of clients. More and more practices are using software to manage each part of the client advice journey. For example, around 70% of advice practices in Australia use XPLAN, including many of the major banks. Client expectations and needs are evolving. You need to graduate ready to meet those needs.
Bridging the gap for your clients
According to research done on behalf of ASIC, less than 40% of Aussie adults understand basic investment principles like risk/return and diversification. Nearly a quarter wouldn’t be able to cover (or don’t know how they’d cover) three months’ living expenses if they lost their income. 11% have recently lost money they couldn’t afford to lose on an investment.
Long story short, there’s never been a greater need for quality financial advice and paraplaning services. As a paraplanner, you’ll have a responsibility for ensuring your clients have a plan in place that meets their needs. But you’ll also need to make sure they understand what your team have recommended, so they can move forward confidently. And to do that, you’ll need to understand the subject matter inside out. That’s where Monarch Institute comes in. We don’t just teach you the regulation and theory. You’ll learn how to communicate key concepts to your clients.
Looking to kickstart your career in financial services? Check out Monarch’s Advanced Diploma of Paraplanning, the only one of its kind in Australia.
Already working in advice or accounting? The Tax (Financial) Adviser Course is designed to get you accredited to give tax advice. And our XPLAN Training Course is great for getting to know the industry’s favourite planning software in record time. Of course, if you’re not sure which course is for you, you can always get in touch with one of our friendly Course Consultants.
For more information on pathways to university courses, check out Monarch’s pathways into the University of New England (AU)’s Financial planning programs.
Sources: lmip.gov.au, joboutlook.gov.au, financialliteracy.gov.au