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RG146 compliant and still no job

Discussion in 'Financial Planning' started by L'homme, 23rd Mar, 2010.

  1. L'homme

    L'homme Active Member

    Joined:
    27th Aug, 2009
    Posts:
    27
    Location:
    Mel
    I have been job-hunting for an entry-level position for about three months and still no luck. My last interview with a stockbroking firm I was told "impressive but unfortantely you are not Tier 1 compliant".
    I became RG146 compliant in Feb and all I want is a break into the stockbroking field as an assistant or an entry-level employee etc . But everywhere I look everybody asks for some kind of relevant experience:(
    I am a uni graduate with some accounting experience and loads of extra-curricular activities to boast, I consider myself extremely informed about business and economy and reasonably knowledgeable in financial modeling, but it seems a lot of broking/research firms are lukewarm towards graduates with little experience. Not to mention the fact most firms don't hire on a regular basis.
    Can anyone in the industry tip me off who might be hiring at the moment? I'd like Financial planning firms too but they need only experienced para planners, no?
    Thanks.
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi L'Homme,

    If your RG146 you are Tier 1 Compliant as long as you've done anything past Foundations. I think they were feeding you a story.

    Stockbroking firms are few and far between especially the larger ones. Stick to financial planning as there are many more businesses in that area who look for staff, you'll multiply your oportunities tenfold (well actually about a thousandfold...). There are many more jobs in financial planning apart from just paraplanning jobs, client services, planning assistants, research, compliance.

    Cheers and good luck,

    Dan
     
  3. L'homme

    L'homme Active Member

    Joined:
    27th Aug, 2009
    Posts:
    27
    Location:
    Mel
    Hi, sorry didn't make myself clear, I was rejected before I even knew there was a thing called RG146:)
    Yea, I am applying for financial planning firms,too. But they are more critical of your experience than stockbroking firms. And I think they want more versatile candidates, like DFS qualified, not merely tier 1.
     
  4. L'homme

    L'homme Active Member

    Joined:
    27th Aug, 2009
    Posts:
    27
    Location:
    Mel
    There's a lot more opportunities in Sydney last time I checked. Can I work for you, ASXBroker?:)
     
  5. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi L'Homme,

    DFS takes into account Generic Knowledge as well as Tier 1 for Insurance, Superannuation and Investments.

    Financial planning companies are usually quite broad minded and love people with life experience (eg, teachers seem to make great financial planners/CEOs).

    Melbourne and Sydney both should have many opportunities. If you have not finished your DFS I would strongly suggest that you do so as this will obviously reflect well on your enthusiasm and dedication.

    Personally, I'm actually in the middle of switching companies I work for. Again, I would suggest that you try and speak to insurance companies, fund managers, superannuation companies as well financial planning businesses. This will give you a great start to learning within the industry.

    Cheers,

    Dan