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Mentor Education

Discussion in 'Financial Planning Study Group' started by Sophialan, 21st Sep, 2016.

  1. Sophialan

    Sophialan New Member

    Joined:
    20th Sep, 2016
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    Location:
    Adelaide
    Hi everyone,
    I want to study the Diploma of Financial Planning in Mentor. May I know that whether the Mentor Education is the accredited Financial Planning education provider or not?
     
  2. Kinj

    Kinj Member

    Joined:
    27th Jun, 2017
    Posts:
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    Location:
    WA
    Hi Sophialan,

    I am also looking to do FP from Mentor. Have you completed it? How was your experience? How much time you took to complete the course. Does it have good market value?
     
  3. minty

    minty Member

    Joined:
    26th Mar, 2014
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    Location:
    QLD
    I am currently studying DFP with Kaplan, a colleague of mine is studying through Mentor. From what I have seen Mentor is simpler than Kaplan - you have only one assignment to do for the whole diploma whereas with Kaplan there's an assignment with each module.

    From speaking with the financial planners I work with, their opinion is while Mentor is easier, you will come away with far less knowledge than you would with Kaplan after completing your diploma. That's why I decided to go the more 'painful' route with Kaplan because at the end of the day I don't want to have spent all this time studying & come away hardly any the wiser...
     
  4. Kinj

    Kinj Member

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    27th Jun, 2017
    Posts:
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    Location:
    WA
    Thanks Minty for detailed info.

    I ended up Kaplan too as I thought it has better market value and employable.
     
  5. minty

    minty Member

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    26th Mar, 2014
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    Location:
    QLD
    You're welcome :) There's a marked difference in the study material. Mentor you have smaller sections and at the end of each one you have to answer between 4 & 5 multiple choice questions in a 'mini' exam - although I don't think you are timed on it. After you complete those questions correctly you move onto the next section & so on. These are the only 'exams' you'd have. I think also parts of your assignment (to do a full SOA) are released in stages for you to complete by the end of your study. This is for the whole DFP - which I think you get 12 months to complete.

    With Kaplan, you have DFP1, DFP2, DFP3 & DFP4 - I think DFP4 is optional as I think you are awarded your diploma after DFP3. For each one of these you are given 12 weeks to complete. In each part of DFP you have topic sections in your study material & various mini 'test your knowledge' sections for you to complete if you wish (not compulsory) then at the end of reading each topic you can complete some 'review questions' online - again not compulsory. The only downer with the review questions on each topic is that they are the same questions each time you do it. You then also can do an optional practice exam which is timed just like the actual exam which is about 90 minutes I think. You will have an assignment with each part of your DFP - eg with DFP1, DFP2 & so on.

    Kaplan I think is more widely recognised but they way they write the notes can be confusing - they certainly don't make it easy! I'm working for one of the big banks in financial planning but only in a support/processing of advice role - At this moment in time I certainly don't plan to become an adviser but I think more and more these days the diploma is becoming a pre-requisite for support roles. A lot of planners are required to not only have a degree in FP but a masters too!! :eek:

    Good luck with your studies!
     
  6. Kinj

    Kinj Member

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    27th Jun, 2017
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    Location:
    WA
    Right! You know so much in detail of both inst. Super. I have also enrolled for first module for now from Kaplan and looking forward to do only first 3 module to get diploma.

    I also dont intend to be planner right now but want to get into bank/insurance or super (anywhr I click first). Hope to click somewhere soon.

    So nice to connect to you.

    Just lil worried about assignments for modules.


    Good luck to you too! :)
     
  7. AnthonyKing

    AnthonyKing Active Member

    Joined:
    30th Oct, 2010
    Posts:
    28
    Location:
    Sydney NSW
    Dear Sophialan & All
    I held a FSL license from 1991 to 2004 (I gave it up as it was rarely used) but in 2014 I decided to update and revive my knowledge and used Mentor RG146 course which is based on the ASIC RG 146 requirements. There are about 300 "exams" in the full course I did, all multiple choice which is : in my view an inexact process which would give poor results in a real life situation.
    I found that the study material was OK but the multiple choice system is sometimes vague and the questions poorly framed. It is sometime difficult to know what there are seeking. AND they try you with trick questions.
    That is something that never happens with clients they are seeking a solution and are relying on YOU for it.
    The exact diagnosis is the most important aspect of fixing client problems in fact there is an old engineers statement (I was an Engineer in my first career) which is this:
    "A Problem Well Stated Is a Problem Half Solved" and its very true.
    Hope this helps
    AK
     
  8. Kinj

    Kinj Member

    Joined:
    27th Jun, 2017
    Posts:
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    Location:
    WA
    Hi Anthony,

    I completely agree with you. I tried Mentor's sample questions (without notes) to figure out if it will be a good option. But when I did that sample questions 20 or so I was surprised with the questions. As most of them were so vague and confusing which made me select Kaplan.