PIS on the hunt for young guns
By Justin Lim and Sara Rich
Financial services dealer group Professional Investment Services (PIS) has launched a training program to attract new recruits straight out of university.
The internship program, named ‘Launch’, is part of the group’s efforts to ensure the company’s future success in an industry facing a skills shortage.
PIS, Australia’s largest financial advisory group in term’s of adviser numbers, has developed relationships with national universities in order to offer graduate opportunities within the group’s network of advisers and accountants.
PIS chief executive officer Robbie Bennetts said the move was a natural progression for the group, which has invested more than $1 million in training in the past financial year. This includes staff training, professional development road shows run nationally and courses for new and existing advisers.
Bennetts said establishing the ‘Launch’ program would allow the company and its advisers to develop a pipeline of talent, while also offering graduates the opportunity to fast-track their careers.
“Our studies show that hiring a graduate has the potential to bring a financial gain of about $64,000, conservatively, to a practice,” he said.
“Added to that is the potential for the development of succession planning strategies within a practice. PIS is growing rapidly, but I am adamant it will not be at the expense of quality of service.”
He said with financial planning now well established as a career option for business graduates, PIS expects an influx of graduates from across Australia to apply to the program.
“PIS adviser networks have seen the value in employing tertiary-qualified advisers, which is why we have one of the highest numbers of tertiary-qualified advisers in Australia.”
There are currently 15 trainees starting the program, which begins with an intensive weeklong course at PIS’ Gold Coast head office.
Participants must be PS 146 compliant in order to be accepted. The training course offers them the opportunity to deepen skills identified as valuable for the modern financial adviser.
They will learn how to prepare Statements of Advice (SOA) and of the importance of maintaining a high compliance standards.
A key focus will also be the ‘soft skills’ a financial adviser needs, such as effective client communication and sales skills.
The move will go hand-in-hand with the development of a training centre at PIS’ corporate headquarters at Bundall on the Gold Coast.
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