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Is anyone here a Financial Planner?

Discussion in 'Financial Planning' started by kiya, 12th Feb, 2009.

  1. kiya

    kiya New Member

    Joined:
    13th Jan, 2009
    Posts:
    4
    Location:
    Brisbane
    I just need some advice :)

    I am about to finish my accounting degree mid year, and I've worked in a small accounting firm (business services/taxation/superannuation) for about a year and a half. I've decided I don't really enjoy it and am not interested in looking for another accounting job or doing my CA.

    A friend mentioned to me about doing financial planning. Sounds interesting so I looked up the Kaplan website about what the course offers. It sounds like it might be the right thing for me to do, because I enjoy the theory of taxation etc, but just not the application of it like I have to do in my work.

    Can I just ask what your job generally is like (what you do, hours you work, job prospects, what the money is like) and am i right in thinking that it's similar to accounting (as in knowledge) but just not in a practical sense (ie journal/data entires, tax returns etc)?

    Thank you :D
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Kiya,

    I am a bank branch based planner, I enjoy it as I get to see many people in a week. Hours can vary, generally 40 hours per week but it is busier at the moment (about 45 hours).

    There obviously knowledge involved and your accounting skills will help you with ADFS Taxation subject...Not sure how much accounting will help you with DFS Insurance subject...Have a read of all the eight different subjects (Diploma and Advanced Diploma).

    Cheers and good luck,

    Daniel
     
  3. kiya

    kiya New Member

    Joined:
    13th Jan, 2009
    Posts:
    4
    Location:
    Brisbane
    Thanks so much for your help Daniel :) I have looked through the diploma a little bit, but I will look through the advanced diploma too.

    Is it a requirement to complete the adv diploma?
     
  4. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Kiya,

    DFS will make you Regulatory Guide 146 compliant, RG146 is the minimum educational requirement to give advice. This was previously known as Policy Statement 146 (PS146). Which some out of date recruitment companies still advertise (their only 2 years out of date!!!).

    ADFS is optional, it helps for employment prospects as DFS is limited in knowledge. Just remember anyone can do DFS and ADFS (the exams are open book multiple choice)...What is going to set you aside from everyone else who has done it in front of a recruiter?

    If you've been working with superannuation already, this will have you in good stead and very marketable experience. Especially if SMSF (guessing from an accountants office).

    If you've done an accounting degree, you could look at a degree which majors in financial planning. There are Business or Commerce degrees which you would potentially be able to get credits for previous studies. Naturally, employers will usually re-imburse you costs after passing each subject.

    Cheers,

    Dan
     
  5. kiya

    kiya New Member

    Joined:
    13th Jan, 2009
    Posts:
    4
    Location:
    Brisbane
    Thank you so much for your reply Dan! Yes my experience in my work at the moment is in tax and SMSF, so that is good that it will become of use later to me :)

    Thanks again, you've been alot of help!!
     
  6. Neil_Salkow

    Neil_Salkow Member

    Joined:
    6th Nov, 2008
    Posts:
    22
    Location:
    Melbourne, VIC
    Advice for the would be adviser

    Hi Kiya

    I'm a financial planner and happy to have a chat and give you some more insight into the industry

    check out my site and give me a call

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