AMP Horizons launches practice start-up program

AMP Horizons is branching out from financial planner recruitment with the launch of a new program for experienced planners looking to start up their own practice.

The financial planning training academy was launched in 2007 and following a recent reshuffle it is branching out into new territory.

The program is looking for experienced planners with between one and five years in the role of financial planner who are looking to start their own practice under AMP. The first intake of about 16 planners will begin in January 2010, when they begin a four-week training program.

While some may argue that six weeks of training before setting out on their own may not be adequate for those with only one years' experience in financial planning, AMP Horizons managing director Tim Steele said it is not that straightforward.

“We have a very structured training and development program over an intensive fours weeks," Steele said. “At the end of those four weeks, if planners want to go out immediately, there’s an additional two-week practice management program. Those who don’t want to go out immediately, but are on a pathway to owning their own practice, can join Horizons Practice, an operating financial planning practice on the back of AMP Horizons, and can continue as a planner in that practice while they continue their development, familiarise themselves with the way AMP operates and get to a point where they are comfortable with their ability to go out and start a practice. At which point they will again complete the two-week program.”

Steele said those keen to set out immediately are more likely to be seasoned planners.

The recruitment campaign for this new practice start-up program started this week, and appears to be part of a bigger recruitment drive by AMP. Steele said Horizons Practice is set to grow to meet the number of quality candidates who are coming through AMP Horizons and the new practice program.

At present it appears that there are not many roles on offer from boutique or institutionally independent practices. An eJobs Recruitment Specialists salary survey recently noted the lack of available roles for advisers outside of the banks. The paper noted that at any one time, AMP Horizons has around 28 ads posted on SEEK alone, which appears to skew the impression that there is currently a strong demand for advisers.

However, speaking from AMP’s perspective, Steele believes there is a strong demand for planners.

“We believe that there is a dramatic shortage of planners in Australia and we think it’s important that institutions invest in organically growing their footprint of planners across the country, which is the original premise on which Horizons Academy was established.” Steele said.