Louise Biti

Deakin’s financial planning students now have the opportunity to complete an industry-based program in aged care advice and have it accredited towards their degree.

The new partnership between Aged Care Steps and Deakin’s Master of Financial Planning (MFP) program means that students who have successfully completed eight of MFP’s core units can enrol in the Aged Care Steps Accredited Aged Care Professional program as one credit point elective.

MFP Course Director Marc Olynyk said the partnership provided students with the opportunity to graduate with two qualifications and be eligible for the Financial Planning Association of Australia’s (FPA) Aged Care Specialist designation.

“Australia’s ageing population means advisers now need to understand what aged care is, and increasingly, have the knowledge, skills and confidence to appropriately support and advise their clients,” Mr Olynyk said.

“Having a professionally-recognised designation is important for financial advisers seeking to provide a comprehensive client service.”

As a market leader in aged care advice, Aged Care Steps supports financial advisers and other advice professionals with the resources and tools needed to deliver efficient and accurate aged care advice. Their organisation and education excellence have been recognised through industry awards and nominations.

Aged Care Steps Director Louise Biti said more than half a million Australians were aged 85 or over and, together with their families, represented a cohort that needed expert financial advice.

“Aged care is complicated to navigate alone, and great advice can make a difference,” Ms Biti said.

“By completing the Aged Care Steps Accredited Aged Care Professional Program^TM as part of the Deakin qualifications, advisers can build their competency and credibility to service clients across all phases of retirement planning, including the ‘frailty years,’ as they take steps to satisfy the FASEA obligations.”

The industry-based aged care program incorporates five pre-reading modules, an interactive workshop program (online or face-to-face), and formal assessments including multiple-choice and short answer questions, and a comprehensive case study.

Mr Olynyk said the combination of Australia’s ageing population and complex aged care accommodation rules increased the importance and need for informed advice.

“Financial planners are uniquely placed to provide objective knowledge and support for clients who are often in a vulnerable and frail situation,” Mr Olynyk said.

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John Maroney

The SMSF Association has announced two new major education pathways for its coveted SMSF Specialist Advisor designation (SSA^TM).

The SMSF Association has entered into new partnership agreements with Kaplan Professional and Deakin University that will enable students to complete the SSA educational requirements as an elective unit in their respective Master of Financial Planning degrees.

SMSF Association CEO John Maroney says: “We are thrilled to partner with Kaplan Professional and Deakin University to further enhance education standards and professionalism in the SMSF sector.

“We have always maintained SMSF advice should be underpinned by specialist education and these new partnerships offer a professional pathway for financial planning students wanting to obtain both a Master of Financial Planning degree and the SMSF Association’s SMSF Specialist Advisor designation.

“Students who successfully complete this elective may be eligible to have their SMSF Association membership upgraded to specialist member status and be able to use the SMSF Specialist Advisor designation – the symbol of excellence in a dynamic and rapidly growing SMSF sector,” Maroney said.

Kaplan Professional CEO Brian Knight says: “We are delighted to be able to offer more choice and depth in specialist expertise to advisers, providing the opportunity to achieve our highly-regarded Master of Financial Planning together with this industry-leading SMSF advice designation.

“As the industry’s largest provider of postgraduate qualifications, we are committed to offering more opportunity and support to advisers while keeping our course prices to a minimum. Now being able to choose the new elective unit, which not only counts towards our Master of Financial Planning but provides access to the coveted SSA designation, is another incentive for advisers who are seeking to further specialise in their career.”

Marc Olynyk, Financial Planning Program Director at Deakin University, says: “The University is excited to announce this partnership with the SMSF Association that allows Deakin financial planning students to complete the SSA educational requirements as an elective option within their Master of Financial Planning degree so they can graduate with an academic qualification and an SMSF Specialist Advisor designation.

“The SMSF sector is one of the fastest growing sectors of the superannuation industry and having a recognised designation to provide professional and competent SMSF advice is becoming increasingly important for advisers.”

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Mr Olynyk, a senior lecturer in Financial Planning and Director of Work Integrated Learning at Deakin Business School, will replace Sharon Taylor, who stepped down from chairing FPEC in August as she intends to retire at the end of the academic year.

FPA CEO Dante De Gori CFP® said: “The FPA Board would like to sincerely thank Sharon for her exceptional contribution to her service to FPEC and the profession. Her input and impact will be missed.

“Since being appointed Chair in February 2018, Sharon has been a tireless advocate for both the profession and for educational standards of the profession. Sharon chaired FPEC through a challenging period for the profession and for the educational sector and saw through the transition of accreditation to FASEA and has ensured that FPEC members are now available to support FASEA on accreditations.

“Sharon also supported a number of initiatives designed to navigate these challenges, including the expansion of the FPEC sub-committee roles to include a representative from each university, and the exploration of a new research model for financial planning. She has always been steadfast in her drive to ensure quality education at a tertiary level, and has never been afraid to refuse accreditation or demand restructuring when deemed necessary”, said Mr De Gori.

FPEC was established by the FPA in 2011 as an independent body chartered with raising the standard of financial planning education and promoting financial planning as a distinct learning area and a career of choice.

Commenting on Mr Olynyk’s appointment, Mr De Gori said: “The FPA Board is delighted to work with Marc as he brings significant experience within both academia and industry in the areas of financial planning, superannuation, retirement planning and accounting. He has also played a key role in the development, growth and recognition of financial planning within both the university sector and the financial planning profession.

“Marc has been a strong advocate for the integration of the CFP® Certification Program into Masters programs. Deakin was the first university to integrate the CFP as an elective into their Master degree. He also led an FPEC sub-committee through the approval of four more education providers. He has excellent relationships with both FASEA and TEQSA, and is keen to see FPEC play a stronger role again in the accreditation of tertiary financial planning courses.”

He holds a Bachelor of Economics from Monash University, a Master of Accountancy from University of New England and a Graduate Diploma of Education from La Trobe University.

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Ms Palliser, who is in only her second year of a Bachelor of Commerce majoring in Finance and Financial Planning, performed strongly in all of the finals challenges during an intense day of competition.

Now in its ninth year, 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.

AMP Head of Education, Capability and Careers, Rod Edge said Ms Palliser impressed the judges with her energy and confidence.

“Crystal performed well in all the challenges you need to master to be a top financial adviser,” Mr Edge said.

“But it was her self-confidence and interpersonal skills that really impressed the judges and lifted her above the competition.”

Ms Palliser won despite competing on her own, rather than as part of a team. A team of students from TAFE NSW came in second in the finals, with a team from Deakin University placing third.

The finalists were tested on their technical knowledge as well as their ability to engage with clients and explain a financial strategy in a mock advice interview. They were also required to prepare and deliver a speech on the impact of technology on the future of financial advice.

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

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

Marc Olynyk, Program Director of Financial Planning at Deakin University said: “We find the AMP University Challenge a great opportunity for our students to put theory into practice and to build their client relationship skills.”

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