Hi,
Out of my newly found excitement for property investment, how does one qualify to become a Financial Planner in Australia?
What qualifications, trade licenses etc. are required?
Good question
You will need to become PS146 compliant which involves passing 4 of the initial exams and then 4 additional subjects over a 2/3 year period.
You will also need to have a minimum of 5 years experience in the industry as passing the educational part is only one section of becoming licensed.
Due to the costs involved with compliance you will need to operate under someones Licence and most of the top Aggregator Groups insist of 5 years experience.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
You can be qualified in as little as 8 days. eg see the courses at http://www.ps146.com.au/
Terryw
Discover Home Loans
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Send an email to get my newsletter.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Terry
Passing examinations is one thing but getting a Licensee to let you work under their banner is another.
Personally anyone who has only done the first 4 subjects in FP will find life hard. Compliance is as big an issue as anything.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
You will indeed notice that the demand for financial planners, particularly in a banking environment seems very high, with renumeration excellent too. The real question is can you make a difference, or will you just be one of the 98% of planners that runs you through your ‘generic type’ risk analysis (with a choice of about five outcomes) tells you how much super and life insurance you need because you will be the first to die in your family (and of course enjoy the filthy commission (up to 4% entry with one of the countries ‘well known’ super funds, which of course is in small print and ‘breezed over’ until you sign the paperwork) ) and then recommend you purchase units in a managed fund that pays him/her the most commission, because as they say ‘most of them are much the same’. (yeah right) OR will you be one of the 2 % that will be genuinely helpful, explain and justify your costs, (preferably an hourly rate with minor or no commissions) and really make a difference in the lives of someone who is paying for your expert advice and experience, making you an extremely valuable asset and partner in planning their future? [confused2] Remember a great many ‘financial planners’ have little or no property experience, and are often still up to their eyeballs in their personal debt even after being in the ‘industry’ for several years. Then again, get a good one and they are priceless. Big responsibility eh? Should I lighten up? [headphone]Just something to think about……Seriously, all the best. [strum]
I totally agree with V8 many FP’s wouldnt even own 10 properties and certainly would not recommend property in their portfolio.
Others of course own a few more than 10 and certainly recommend property where they may personally earn zippo.
It is horses for courses.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
Looking for life cover – We Guarantee to beat any quote you have in writing.Richard Taylor | Australia's leading private lender
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