(L to R): Sarah Pearson and Jordan Finch

University of Canberra students Sarah Pearson and Jordan Finch have won the finals of the 2020 AMP University Challenge and the $5,000 first prize.

The pair, who are both majoring in financial planning, came out on top in a closely fought competition on Friday.

It is the first time students from University of Canberra have won the competition in its 10 year history.

The AMP University Challenge is a national financial planning competition for tertiary students that aims to identify promising new talent and promote high standards of education and professionalism among the next generation of advisers.

The finals placings, judged by a panel of industry and academic experts, were:

• 1st place: Sarah Pearson, Jordan Finch (University of Canberra)
• 2nd place: Paige Benson (Central Queensland University)
• 3rd place: David Lautner (TAFE NSW)
• 4th place: Sarah Sheehan, Lachlan Cruickshank, Mathew Marshall (Griffith University)
• 5th place: Anuj Umesh, Ryan Ramos – Array Financials (Western Sydney University)

AMP Head of Talent & Capability Rod Edge said all the students should be proud of their achievement, having performed better than over 170 competitors from across the country to get to the finals.

“It has been a great achievement by the students just to make it this far,” Mr Edge said.

The finalists fought a day long battle for supremacy, which included a technical quiz, a mock advice interview with two clients and preparing a speech on how to make financial advice more affordable.

The finals were also a chance for the students to speak with senior advice professionals and financial planning academics and get advice on their studies and career opportunities.

The event is usually held at AMP’s Sydney headquarters, but was “virtual” this year due to COVID-19.

The AMP University Challenge is integrated into the curriculum and assessment for students studying financial planning majors at Central Queensland University, Deakin University, Griffith University, TAFE NSW, University of Wollongong, Charles Sturt University and Western Sydney University.

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The teams and individuals, representing four universities and TAFE, were selected from more than 170 submissions across the country and will now head to Finals Day on 30 October.

Now in its 10th year, the AMP University Challenge gives tertiary students the opportunity to test their skills as a financial adviser and win $5,000 if they are declared the ultimate winner.

Head of Advice Education, Capability and Careers, Rod Edge, said: “The AMP University Challenge is a pillar of AMP’s support for the next generation of financial advisers and a professional financial advice sector.”

The finalists are:

• Sarah Pearson and Jordan Finch (University of Canberra)
• David Lautner (TAFE NSW)
• Sarah Sheehan, Lachlan Cruickshank, Mathew Marshall (Griffith University)
• Ryan Ramos and Anuj Umesh Shukla (Western Sydney University)
• Anuj Umesh Shukla (Central Queensland University)

To reach the finals, the competitors had to devise a financial plan for a hypothetical Australian couple, which demonstrated that the advice took into account the pair’s circumstances and was in their best interests.

In next month’s finals, a challenging round of academic and performance-based tests will decide the winner, including competitors presenting their financial plan in a meeting with their clients.

Finalists usually compete at AMP’s Sydney headquarters, but this year the finals will be “virtual” due to COVID-19. Mr Edge said the experience would mirror that of real financial advisers as they moved to remote engagement with their clients this year to comply with lockdowns.

The first winner of the AMP University Challenge in 2011, Michelle Carroll, credits the competition with launching her on a successful career in financial advice.

“After doing the Uni Challenge it really confirmed it was the right area for me,” Ms Carroll said. “It really opened my eyes to the opportunities that were out there.”

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