AMP shuts gate to Planner Pathway
Steve Helmich
AMP Financial Planning has closed the doors to its Planner Pathway Program in an attempt to improve efficiencies and will now focus on a “business as usual” style of recruitment.
The 18-month course, designed to teach paraplanning skills to industry entrants, was launched in September last year as part of a recruitment drive within AMP.
However, an extensive review of its entire recruitment process determined this was not the most effective way of boosting financial planner numbers, according to AMP director of financial planning advice and services, Steven Helmich.
“The review has shown that the best way to achieve [growth] is to focus our attention on our business as usual planner recruitment program as well as our Horizons program, where potential planners go through a comprehensive 12 month program before achieving representative status with AMP,” he said.
“Planner growth is a key part of AMP’s strategy — we successfully grew planner numbers in a difficult market in 2007 and we want to continue this growth in 2008.
“Our focus is on ensuring we have the most efficient and effective programs in place across AMP.”
The Planner Pathway curriculum will be available to new paraplanners employed by the company as part of its regular recruitment and training processes.
Helmich said existing students would be given the opportunity to complete training to a suitable level for attaining representative status at AMP.
The news follows a similar announcement by Westpac Financial Planning, whose recruitment programs focus on attracting senior planners from across the industry while working to retain its experienced staff.
Last month the dealer group announced plans to increase its total number of experienced planners by more than 200 over the next three years at the same time as reducing the number of entry-level planning positions.
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