Volatile markets driving demand for planners
Warren Jacobson
Australia’s largest dealer group, Professional Investment Services (PIS), has teamed up with Kaplan Professional to offer entry-level educational programs, allowing candidates to gain firsthand experience from financial planning professionals.
Kaplan chief executive officer Warren Jacobson said the program was established to address the skills shortage and increased demand for skilled accountants and financial planners caused by volatile markets.
“The issue is that employers want people who are not only recently up-skilled but who can strategically apply those skills to analyse complex issues,” he said.
PIS education manager Warwick Glaves said in volatile markets advisers needed to spend as much time as possible talking to their clients and hence increasing the need for technical specialists to manage the back-office.
“Top paraplanners, those who prepare plans for financial planners, are a scarce commodity. Good candidates need to demonstrate problem-solving skills and attention to detail as well as the ability to grasp complex strategies.
“Given 53 years old is the average age of Australia’s 16,000 financial planners, the industry forecasts a shortfall of 3,000 jobs within the next three years as existing financial planners move towards retirement age,” he said.
“These positions are well remunerated and opportunities are there for the taking for people wanting to either step into the market or launch into a financial planning career.”
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