ASX bonds with financial planners
The Australian Stock Exchange (ASX) has recognised financial planner’s increased interest in direct investments and is stepping in to assist with improving knowledge.
A February 2000 ASX/Assirt study of 223 financial planners found more than 50 per cent wanted more research, information and seminars on direct investments. The study also revealed 44 per cent of planners, who did not give advice on direct investments, would like to in the future.
ASX business development manager, financial planning, Brett Baker says the study shows financial planners want more information and leadership, and the ASX wants to help.
"Financial planners have shown a desire to know more about listed securities and how they work, and we would like to help them with that process," he says.
The ASX is interested in strengthening its relationship with financial planners, beginning with the key area of education. Although currently running courses for investors only, the ASX is now focusing its attention on financial planners. But Baker points out the ASX do not want to make an income from education and instead will work towards having more involvement with some of the 40 odd registered training organisations to the financial planning industry.
Baker says the ASX has been offered a seat on the curriculum committee for two subjects of the Diploma of Financial Planning course, run jointly by the Financial Planning Association (FPA) and Deakin University.
"The ASX are also looking at ways that we can better inform advisers, through seminars and forum style presentations," he says.
With such a presence, Baker says the ASX can determine what information on what topics financial planners need.
"We can find out where we can assist, and then go forwards from there," he says.
The rise of investors in direct investments is one reason behind the desire for increased knowledge by financial planners.
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