The top 5 entries have been selected from students around Australia to compete in the 2019 finals of the AMP University Challenge.

A record 213 students entered the 2019 competition, now in its ninth year. The competition seeks to promote emerging talent among the next generation of financial advisers and drive higher professional standards in financial planning.

Students from Deakin University, TAFE NSW, Griffith University and Central Queensland University made the final cut: two teams and three solo competitors.

AMP will now bring the students to Sydney to compete in Finals Day on Friday 25 October.

The finalists are:

• Anthony Heffernan: Central Queensland University
• Karli Tsemetzis, Anna-Maria Moldovan and Sophie Amerena: Deakin University
• Kyle Roberts: Deakin University
• Crystal Palliser: Griffith University
• Scott McLaren, Leo Su and Lachlan Darmanin: TAFE NSW

AMP Head of Education, Capability and Careers Rod Edge congratulated the top place getters, saying they had already shown outstanding talent to reach the finals.All competitors were required to submit a financial plan for a hypothetical client, following proper advice processes and convincingly showing the advice was in the clients’ best interests.

“We’ve had a record number of entries this year, so the competition has been hotter than ever to score a place in the top 5,” Mr Edge said.

Finals Day is an intense round of challenges, including a technical quiz, a formal presentation on a topical industry issue and a mock advice interview where the finalists have to present their financial plan to their client.

The winning students will share in $10,000 prize money and national recognition of their career potential.

This year the AMP University Challenge will also be the subject of an academic research project conducted by AMP and its education partner Griffith University into the influence of industry competitions on student career outcomes.

The research is led by AMP’s newly-appointed research fellow in financial advice at Griffith, Ellana Brand.

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Griffith University’s Business School has appointed Ellana Brand to the newly created position of Research Fellow. Ms Brand is a senior analyst with the Reserve Bank of Australia and was the recipient of the RBA’s Outstanding Achievement Award in both 2016 and 2017.

Ms Brand will undertake research to expand our knowledge and understanding in areas such as the impact of financial advice, financial literacy, professional standards and regulatory reform.

AMP Head of Advice Education, Capability & Careers Rod Edge congratulated Ms Brand on the appointment, saying the company’s support of the fellowship demonstrated its commitment to raising standards in financial advice.

“We see the introduction of the new FASEA education standards as an important opportunity to lift the quality of financial advice and our collaboration with Griffith is central to that effort,” Mr Edge said.

“AMP believes that the demand for advice will only grow and that we must continue to develop a professional adviser force that helps our clients achieve their financial goals.”

Griffith Business School Pro-Vice Chancellor Professor David Grant said: “This fellowship provides a chance for Griffith and AMP to demonstrate thought leadership with the potential to effect real societal change, and to contribute to the overall body of knowledge that informs the activities and direction of the financial services industry.”

Scholarship programs

AMP is also funding scholarships for prospective financial advisers to promote talented individuals and assist with the costs of their study.

The AMP New Entrants Scholarship provides support for students undertaking studies in Financial Planning at Griffith University.  Up to 6 scholarships are to be awarded annually.

The AMP Adviser Academy Tuition Fee Bursary was established to encourage students to participate in the AMP Adviser Academy program. The bursaries are available to students undertaking the Financial Planning Skills course at Griffith. Up to ten bursaries are to be awarded annually.

AMP and Griffith have been pioneers in developing financial advice as a discipline at the tertiary level, launching a Master of Financial Planning qualification in 2014.

They have also developed postgraduate options to assist current advisers to achieve the FASEA standards, which are to be submitted for FASEA accreditation.

All new advisers entering the industry must have met the FASEA standards while existing advisers will have until 31 December 2023.

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