Amelia Constantinidis

AMP’s financial planning academy Horizons, will launch an online Masters program with Griffith University which will allow candidates to gain a Master of Financial Planning through a flexible program that combines rigorous academic training and practical experience.

The innovative new education program has been jointly developed by Horizons and Griffith University, and will offer candidates a flexible pathway to gain a university qualification and employment opportunities across AMP’s licensee groups.

AMP Horizons Director Amelia Constantinidis said the program further underpinned AMP’s commitment to the highest standards of professionalism.

“AMP is committed to delivering high quality financial advice that makes a real difference in people’s lives.

“Through this program candidates will not only achieve a qualification with one of Australia’s leading academic institutions in Griffith University, they will gain practical financial planning experience through Horizons, as well as access to employment opportunities within the AMP network on completion.

“With a flexible combination of online and face to face learning we think this will really appeal to people looking to further their career as a financial adviser and aspire to the highest professional standards,” Ms Constantinidis said.

Griffith University Discipline Head of Finance and Financial Planning, Associate Professor Mark Brimble said the program will build on the theoretical and practical base of the existing AMP Horizons program, while for individuals aspiring to become advisers under the AMP banner, the new Masters degree will offer a learning process embedded within industry frameworks.

“We are delighted to partner with AMP which allows the provision of a financial planning program that strengthens educational opportunities within industry, but is also a great opportunity for Griffith University to engage with such a reputable nation-wide company like AMP.

“The Griffith University AMP Horizons program is the perfect fit as we are both leaders in our respective fields.

“There exists two major trends in education; developing the capabilities of students to study online, plus the alignment of study programs with the industry to provide a holistic practical and theoretical framework.”

The initiative strengthens AMP’s commitment announced last month to implement a series of measures to significantly lift the bar on adviser professionalism.

The measures include a requirement that all existing and new advisers must obtain a Certified Financial Planner® (CFP), a Fellow Chartered Financial Practitioner (FChFP), or Master of Financial Planning (MFP) qualification.

New advisers must complete this qualification within five years of joining an AMP licensee while existing advisers have up to 31 December 2019.

The Masters program with Griffith University will provide an alternative pathway for advisers across AMP’s network to achieve AMP’s new education standards^[1].

The Griffith program enhances AMP Horizons’ current Career Changer Programs, which involves a 12-month structured training pathway to becoming a qualified financial adviser, as candidates can now attain a university qualification.

Horizons entry standards are already among the highest in the industry with a 10 week intensive academy course followed by a nine month supervised placement in the Horizons  practice.

AMP Horizons also has a partnership with the University of New South Wales (UNSW),  which provides eligible graduates of the Horizons Professional Year Program the opportunity to gain academic credit towards a Graduate Diploma or Masters qualification in financial planning at the UNSW’s Australian School of Business.

The Griffith and UNSW relationships are in addition to the AMP University Challenge, which aims to increase awareness of financial planning as a career choice for university graduates.  Now in its fourth year, the AMP University Challenge has seen a significant increase in student applications and universities embed the Challenge into their curriculum.

The first intake for the Griffith University course will commence in November 2014

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[1] Minimum 1.5 years full-time (for candidates with existing RG146).

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Craig Dunn, Steve Helmich and Amelia Constantinidis from AMP with the winners from La Trobe University – Morgan Faye Remilton, Ruby Henderson and Aaron Day.

A team from La Trobe University in Victoria has won the AMP University Challenge in a year that saw a record number of female entrants and finalists.

The AMP University Challenge is a national financial planning competition open to all Australian university students who want to find out first-hand what being a financial planner is all about.

AMP Horizons Director Amelia Constantinidis congratulated the winning team on their win and said that student response to the Challenge exceeded expectations, particularly in terms of the number of females who registered and then made submissions to the competition.

“A profession should broadly reflect the demographics of a society so we were encouraged that 44 per cent of submissions were made by females, up from 34 per cent last year and 58 per cent of this year’s finalists were women, compared to 50 per cent last year.

“Attracting and retaining top female talent is key to the continued success of the financial planning profession so the gender mix of this year’s Challenge entrants is a positive sign,” Ms Constantinidis said.

The competition, now in its third year, aims to enhance financial planning professional standards by increasing awareness of the profession amongst universities and students.

Individuals and groups of students are invited to submit a scoped advice discussion paper in response to a hypothetical client case study and the top five teams come together in Sydney to take part in the Finals Day.

There were 64 submissions to this year’s Challenge, up from 57 last year, and 113 students took part in the competition

The winning team, which comprised Morgan Faye Remilton, Ruby Henderson and Aaron Day were awarded the top prize by AMP Chief Executive Officer Craig Dunn and Director Advice and Client Solutions Steve Helmich at a reception at AMP on Friday night.

“Taking part in the AMP University Challenge has given us the opportunity to look up from our text books and get a true appreciation of the difference we’re going to be able to make to people’s lives,” said Morgan Faye Remilton, a member of the winning team.

First prize was $5,000 cash (for the winning team to share), along with registration to attend the 2013 FPA National Congress in Sydney and a student membership to the association as well as attendance to the 2014 AMP Planner Conference in Melbourne. La Trobe University also received a $10,000 grant for AMP to put towards financial planning initiatives.

Teams of students from La Trobe University also took out second and third prizes respectively which included $2,500 and $1,000 cash and student membership of the FPA.

Students from all the Australian mainland states took part, with Victorians accounting for 71 per cent of overall submissions and 100 per cent of finalists. La Trobe University accounted for 51 per cent of applications as the Challenge is integrated into the curriculum and assessment for the final year subject forming the financial planning major. Griffith University and TAFE NSW: Higher Education have also embedded the Challenge into their curriculums.

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The competition, now in its second year, invites individuals or groups of up to three students to submit a scoped advice discussion paper in response to a hypothetical client case study.  The top five teams then took part in a Finals Day at AMP in Sydney yesterday.  

This year saw the number of submissions to the competition double, with a total of 57 compared to 24 last year.  The number of students that took part increased from 42 in 2011 to 112 in 2012. 

The winning team, which comprised Nathan Nicolaou and Andrew Cavaggion, was awarded the top prize by AMP Financial Services Managing Director Craig Meller at a reception at AMP last night.  

“The AMP University Challenge has taught me a lot about where financial planning is headed and how it is evolving. You get a real sense that the changes taking place are leading to a shift from financial planners being seen as service providers to becoming a fully recognised and embraced profession.  It’s an exciting time to be involved,” said Nathan Nicolaou, a member of the winning team. 

First prize was $5,000 cash for the winning team to share, along with registration to attend the AMP Planner Conference in Brisbane and a two-day internship with the Financial Review.  La Trobe University also received a $10,000 donation to put towards financial planning initiatives. 

Two separate teams from La Trobe University also won second and third prizes respectively, which were $2,500 and $1,000 cash. 

AMP Horizons Director Tim Steele congratulated the winning team, explaining that the response to the competition, now in its second year, has exceeded expectations. 

“The student response to the AMP University Challenge has been overwhelming with the uptake more than doubling in 2012.  Students across the country have really embraced this unique opportunity to find out first-hand what it’s like to be a financial planner,” Mr Steele said.  

“The students that took part in the inaugural AMP University Challenge last year set a high benchmark, but the 2012 finalists have certainly risen to the challenge. Our aspiration is that more university students will consider financial planning as an exciting and rewarding career path, having found out through experience the difference it can make in people’s lives,” Mr Steele added. 

Students from all the Australian mainland states took part, with Victorians accounting for 75% of overall submissions.  La Trobe University accounted for 57% of submissions as the Challenge is an integrated part of the curriculum and assessment for the final year subject forming the financial planning major.  Deakin University accounted for 11 per cent of submissions, followed by Australian National University (5%).  

The AMP University Challenge aims to enhance financial planning professional standards by increasing awareness of the profession amongst universities and students. It was supported by the Australian Financial Review, IFA Investor Daily and Money Management who generously donated some of the prizes. The competition was also championed by the Financial Planning Association and the Financial Planning Academics Forum. 

AMP Horizons recently launched another university initiative – partnering with the University of New South Wales (UNSW) to provide eligible graduates of the Horizons Professional Year Program with the opportunity to gain academic credit towards a Graduate Diploma or Masters qualification in financial planning at the UNSW’s Australian School of Business (ASB).

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So far this year 41 teams have registered for the competition. The competition has been expanded in 2012 to cover both semesters. Submissions for semester 1 are open until 18 May.

“One of the aims of the AMP University Challenge is to increase awareness of financial planning as a career choice. That’s why it is open to students from any academic discipline. But for those currently studying a degree in Financial Planning, it enables them to put their theoretical knowledge into practice, an opportunity that both students and universities value,” said Director AMP Horizons Tim Steele.

The success of last year’s competition has seen universities actively encourage students to take part in the Challenge this year.

Lecturer in Financial Planning, Griffith University, Julie Knutsen said: “The AMP University Challenge gives students a great opportunity to develop critical thinking capabilities in a real world financial advice context. The competition emphasises quality advice and it’s pleasing to see universities and industry partners such as AMP working to strengthen the skills of our graduates and the next generation of professional financial planners.”

La Trobe University students who entered the competition last year gained credits towards an assignment for the Capstone financial planning subject and the University is encouraging all financial planning students to take part this year.

“The practical experience gained from the AMP University Challenge complements our financial planning courses and the work-based learning approach that we integrate into our curriculum. A third of all students took up the challenge last year and we would like all our students to participate this year,” said Marc Olynyk, senior lecturer in Financial Planning, La Trobe University.

“With a first and a third prize secured last year by our students, the ability to network and present their work to leading industry professionals was a valuable learning experience for the students,” Mr Olynyk added.

The AMP University Challenge gives students the opportunity to win up to $5,000 for the team or individual, registration for the Brisbane 2013 AMP planner conference, $10,000 donation towards financial planning related initiatives for the team’s university and other prizes. Five finalists will be invited to attend Finals Day at AMP offices in Sydney in October.

The AMP University Challenge is in its second year and provides students with the opportunity to find out first-hand what it’s like to be a financial planner. Last year’s competition saw entries from all Australian mainland states, including the University of Melbourne, University of Western Sydney, Queensland’s Griffith University, La Trobe University and Monash University in Victoria.

The competition is supported by the Financial Planning Association (FPA) and Financial Planning Academics Forum. It aims to enhance financial planning professional standards by increasing awareness of the profession with universities and students.

To find out more or enter the AMP University Challenge, please visit www.universitychallenge.com.au

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The AMP University Challenge is an Australian-first financial planning competition, giving students from Australian universities the opportunity to find out first-hand what being a financial planner is all about. Created by AMP and supported by the Financial Planning Association (FPA) and Financial Planning Academic Forum (1), the competition aims to enhance financial planning professional standards by increasing awareness of the profession amongst universities and students.

“Taking part in the AMP University Challenge and meeting industry experts and other students has been a really rewarding experience. I’ve learnt a lot about how the industry works and the options available to me as I pursue a career as a financial planner,” said Ms Walker.

First prize was a $5,000 AMP Bank account, FPA student membership and professional development opportunities. The winner’s university also received a $10,000 grant to put towards financial planning programs.

Zita White from Griffith University (Queensland) and a team of students from La Trobe University (Victoria) won second and third prizes respectively, which were $2,500 and $1,000 AMP Bank accounts along with free FPA membership for a year.

AMP Financial Services Managing Director Craig Meller congratulated Ms Walker on her win. “The student response to the AMP University Challenge has exceeded our expectations. They have really embraced this unique opportunity to find out first-hand what it’s like to be a financial planner,” Mr Meller said.

“We’re excited to announce that we will be continuing the AMP University Challenge next year. Our finalists today have set the benchmark high for next year and beyond.

“By bringing our industry and universities together, we have attracted the calibre of individuals we’d like to see joining the financial planning profession in the future – educated and motivated young professionals looking for a rewarding career that makes a difference in people’s lives,” Mr Meller added.

A total of 42 students in 24 teams across Australia submitted entries into the competition, including students from all the Australian mainland states. Of these students, 78 per cent are in a financerelated degree or double degree. A further 17 per cent are completing a financial planning degree, double degree or major. The University of Melbourne had the most entrants, claiming 40 per cent of submissions, followed by 17 per cent from La Trobe University and 14 per cent from Griffith University.

(1) The Financial Planning Academic Forum is a recently formed group of academics working towards furthering universities’ participation in the financial planning profession.

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The AMP University Challenge is an Australian-first financial planning competition open to students from Australia’s 38 universities who want to gain practical professional experience.*

AMP Director of Horizons Academy Tim Steele said he was delighted with students’ response to the competition so far.

“It’s great to see the AMP University Challenge has been so well received by students in its inaugural year. It’s a strong sign that students are interested in finding out what it’s like to be a financial planner and the benefits financial advice can provide to clients.

“We’re looking forward to seeing more registrations and the actual submissions as, ultimately, we’re hoping to find the next generation of financial planners,” Mr Steele said.

So far, universities from all Australian mainland states have had students register. The University of Melbourne has the largest number of student registrations at present with 54 students registered. The University of Western Sydney has the second highest number with 17 registrations, followed by Griffith University (Queensland) and Monash University (Victoria), both with 15 registrations.

The competition opened on 25 July. Individuals or groups of up to three students are asked to respond to a hypothetical client case study by preparing a short scoped advice discussion paper by 9 September. The top five teams will be notified on 30 September and will be invited to attend a finals event in Sydney on 19 October. This will involve a technical quiz and live client role play presentation, judged by a panel of industry experts and financial planners.

First prize for the AMP University Challenge is a $5,000 AMP bank account for the winning team, along with:

• A $10,000 grant for the winning team’s university to put towards financial planning programs
• Free student attendance to the 2011 FPA National Conference for each team member
• Free FPA student membership status for one year for each team member
• Registration to attend the 2012 AMP Planner Conference for each team member.

Second and third prizes are $2,500 and $1,000 AMP Bank Accounts along with free FPA student membership for a year. The competition is supported by the Financial Planning Association (FPA) and Financial Planning Academics Forum2. It aims to enhance financial planning professional standards by increasing awareness of the profession with universities and students.

To find out more or enter the AMP University Challenge, please visit www.universitychallenge.com.au

*Students that enter must not already be Authorised Representatives of financial planning practices.

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