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Query for those who have completed their DFP

Discussion in 'Financial Planning' started by Mel1776, 7th Mar, 2010.

  1. Mel1776

    Mel1776 Member

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    Hi all,

    New to this site, just wanted to get some feedback in regards to the opportunities they may have come accross after completing their Diploma of Financial Services (Financial Planning.)

    I am currently ready to start my 2nd component (RM) with Kaplan, while juggling full-time work and 3 young children. I am extremely eager to get into the financial services industry as a para-planner but have noted the Diploma will need to be completed first.

    As my current employment is not in the financial services industry I am trying to find an administrative/client services role while I am studying, at this stage that is not progressing well.

    Any advise and feedback welcome.

    Cheers,
    Mel.
     
  2. AsxBroker

    AsxBroker Well-Known Member

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    Hi Mel,

    While the DFS isn't "needed" to paraplan, it certainly gives you credibility in relation to getting a job as well as being able to prove you actually know what is going on. There is another thread in relation to the salaries which paraplanners can get which is recent on InvestEd.

    Cheers,

    Dan
     
  3. Mel1776

    Mel1776 Member

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    Thanks Dan - I have a rough idea of the salaries, it's just the difficulty in getting IN the industry. Sent off my resume to one of the Melbourne employment agencies and the response seemed to me that I was not high calibre enough for their books. I'll just have to keep trying until someone wants someone with excellent client services/administration and bookkeeping knowledge who is willing to learn the rest... although experince speaks louder in most cases.

    Cheers,
    Mel.
     
  4. AsxBroker

    AsxBroker Well-Known Member

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    Hi Mel,

    Agreed. Unfortunately, recruitment companies / agencies basically want to get experienced people on their books as they have a higher likelihood of getting those people into roles and getting themselves paid. I strongly suggest that you try to contact potential employers directly, whether these be large or small. There are many of these businesses which are keen to find high quality employees who are experienced with client services, these could include banks, insurance, fund managers, financial planners and accountants.

    Cheers,

    Dan
     
  5. merlinnn

    merlinnn Active Member

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    In relation to the above posts, is a prospective employee better starting the advanced diploma or commencing a finance degree whilst still looking for work?
     
  6. AsxBroker

    AsxBroker Well-Known Member

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    Hi Merlinn,

    Great question...
    A degree usually looks better than a diploma/advanced diploma.

    Cheers,

    Dan
     
  7. merlinnn

    merlinnn Active Member

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    Ok, so I am currently looking at financial planning, business or accounting, does anyone have an opinion in relation to these or would a non finance degree be a positive or negative? Are employers just looking for someone that has the initiative and tenacity to finish a degree more so then its actual relevance to financial planning itself?
     
  8. AsxBroker

    AsxBroker Well-Known Member

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    Hi Merlinn,

    A business/commerce/accounting degree would look better than a Bachelor Arts, especially if you are applying to a job with no experience and someone else with no experience has a BA and you've got a B Comm/B Bus/B Acc. You'd look better than the BA person (unless they've done something like Pure Mathematics, but most do History or other non-finance/non-business subjects otherwise they'd do a business related degree).

    The relevance to financial planning helps, you can check degrees at ASIC's website http://www.asic.gov.au/eTraining/eTrain.nsf about which courses are RG146. Personally I found RMIT very helpful with exemptions for previous studies and I am completing their B Bus (FP) through Open University https://www.open.edu.au/wps/portal/...Qualification_Data/RMI_FIN_DEG&WT.ti=Bachelor of Business in Financial Planning

    It also makes it easier if your employer is happy to help pay for your studies, ie, you enrol in the course and pay for it, then when you pass generally, an employer will re-imburse you for the course fee as they benefit from your education.

    Cheers,

    Dan
     
  9. enem

    enem Member

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    IP1 or Super --- which is easier??????????

    Hi, can anyone here who has completed Kaplan's DFS (FP) tell me which module is easier -- IP1 or Superannuation & RP. I have done Risk Management and want to the the easier one of the two next.

    Also does anyone know if it is easier through Kaplan or Pinnacle, or are they both equally challenging.

    Really appreciate any advice, thanks
     
  10. AsxBroker

    AsxBroker Well-Known Member

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    Hi Enem,

    I believe that is very much up to the individual understanding of the student. If the student already has a grasp of investments IP1 would be very straightforward (eg, personally I have a Grad Dip in Applied Finance so IP1 was more revision than learning for myself whereas the SRP was new on a conceptual learning). If you've already got experience already around one of the subjects over the other, that subject would probably be more straightforward to complete that particular subject.

    Cheers,

    Dan
     
  11. Mel1776

    Mel1776 Member

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    it's been a while since I've been on the site - but thought I'd update on my initial query. Yes I found that new job in a financial planning company, where they are more than happy to have me start as an assistant and study to complete my diploma. I have completed risk management and now am currently in the middle of Investment Planning 1 (argh don't like this one, new book - much more complex). All I can say to those who had the query I did is to keep trying and you will find that perfect place that wants you.