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Open questions on Financial Planning ... advise appreciated

Discussion in 'Financial Planning' started by enem, 24th Apr, 2010.

  1. enem

    enem Member

    Joined:
    9th Mar, 2010
    Posts:
    13
    Location:
    Sydney, nsw
    Hi everyone,

    I am halfway through my DFS (FP). Doing it with Kaplan and so far so good, although it is mentally taxing and takes a lot of time. Hence my question:

    1) What job opportunities do I have at this stage where I am RG146 compliant only with regard to Risk Management (I have done the skills assessment, but have not done the IP1 and Super modules)


    2) Can an experienced planner or anyone who knows honestly tell me if the kind of brain racking we have to put up with during these Kaplan assignments is actually the case when working as a financial planner? I guess, to put my question in simple words: Do financial planners who work under tight deadlines actually have the time to do the kind of calculations we do during these assignments, or is there a simpler way in which they function?

    3) Does anyone know of any other recognised institutes where the assignments will not be as killing as the Kaplan ones?

    Looking forward to some advice which I would deeply appreciate

    thanks
     
  2. AsxBroker

    AsxBroker Well-Known Member

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

    1) Low though don't stop trying...you've only done two subjects. Your prospects will be much better after completing the other two subjects.

    2) Assignments are usually more broad brushed and leave out alot of details which you would know the answer to. You'll get used to the calculations!

    3) DFS (FP) is under the AQF which means that it is theoretically the same at all institutions. Naturally others in the forum may know whether or not this is true.

    Cheers and good luck,

    Daniel
     
  3. enem

    enem Member

    Joined:
    9th Mar, 2010
    Posts:
    13
    Location:
    Sydney, nsw
    Thanks mate for your prompt response. I have signed up for the third module -- Investment Planning 1.

    As it is purely distance education and there are no face-to-face interactions, I was wondering if you would be in a position or if you know if anyone (like a planner/tutor) who could help me with any difficulties that arise during the course or assessment. I am willing to pay up to $50 per hour for any such help and may need at least a couple of hours before my exam to resolve any issues.

    Please let me know, thanks



     
  4. ovywasef

    ovywasef Member

    Joined:
    3rd Dec, 2010
    Posts:
    11
    Location:
    sydney, nsw
    Hi,

    I have enrolled in the Diploma of Financial Service recently vai Kaplan. Does any one know the difficulty of the exam? Are the exams really similar to the sample paper? I know this is an open book exam but is there really enough time consult with the notes?

    Thanks
     
  5. Mel1776

    Mel1776 Member

    Joined:
    7th Mar, 2010
    Posts:
    13
    Location:
    Melbourne, Vic
    I started studying before actually working in the industry for the first module and I can say it did worry me when hitting the assignment. But after landing a job as a financial planning assistant, the next module in risk management was a breeze as I got to see how it works with the many clients we assist. The investment planning 1 i am currently studying is quite hard and the financial planners in my company admit that they do not use half of what they studied in that book. It is important to be able to calculate and understand the current situation of your client so that you can give them the personalised strategy that is best for them.
    I find myself, practical work is easier than theory. I suggest that instead of a tutor you try and go to the intensive workshops in your capital city, as it certainly assist's in the study and exam preparation, and clarification on how to understand the questions asked in the assignment.
    If you have tagged your book, and are familiar with where things are, the open book exam can be ok. one hint, don't spend too much time mulling over one question if your unsure - flag it and go back to it.
    Keep trying, I have found this industry a fantastic one to work in.
    Good luck.