professional year

Financial planning

Meet one of Australia’s youngest financial advisers

Melbourne-based Lino Salzano earned the title of adviser at just 21 years old, and has described the process of how he got there....

Financial planning

Culture critical to retaining advisers after PY

A panel have shared how advisers can reduce fears around retention when taking on a new adviser on their Professional Year....

Financial planning

Looking beyond the Professional Year

One of the most important factors to a successful Professional Year strategy is for firms to look beyond the 12-month horizon and how a candidate can develop at the firm ...

Financial planning

Prescriptive PY produces problems

Prescriptive Professional Year requirements are hampering the advice industry in a time of declining adviser numbers, say two industry associations....

Expert Analysis

Professional Year is the making of a financial planner

The professional year offers new entrants a bridge between academic theory of the post-Hayne landscape and the real world of service, writes Anne Palmer. ...

Financial planning

Push for employed paraplanners to become advisers

Over a quarter of paraplanners would be open to becoming financial advisers, creating an opportunity for them to consider the professional year as hundreds exit the indus...

Financial planning

Is an adviser ‘finishing school’ an answer to PY burden?

A financial adviser has suggested a practical training school for soon-to-be advisers would relieve some of the professional year burden from existing advisers....

Financial planning

PY advisers offer limited value

Despite declining adviser numbers and rising demand for advice, professional year advisers are not attractive hires for advisory firms due to the time commitments require...

Financial planning

Focus on growing skills not ticking boxes in PY

Recognising the existing skills of provisional financial advisers is a good way for both businesses and candidates to get the most benefit out of their professional year ...

Financial planning

New entrants face hurdles in securing professional year

It is the professional year that is the biggest hurdle for new entrants rather than exams but things are likely to improve in 2022 when it is clear how many existing advi...

Features

InFocus: Attracting talent to advice is not all about the money

Advice practices need to put more work into their culture, career structures and salaries if they want to attract and retain what little supply there is of current and fu...

Financial planning

PY numbers still not enough to sustain industry

Despite 400 new entrants doing their professional year, this number is far below what is required to sustain the industry....

Financial planning

PY can be structured part-time

The professional year does not need to be completed full-time as provisions for part-time work are allowed, while the number of entrants doing their PY has increased tenf...

Financial planning

Adviser loss drastically outpacing PY entrants

The amount of new professional year entrants is less than a tenth of the total amount of advisers that have exited the industry this year. ...

Financial planning

Dealer groups uncertain on amount of Professional Year participants

There are only 68 eligible New Entrant Registrations from licensees, but the industry has concerns over how many adviser graduates are doing their Professional Year and i...