Advice firm engages students with financial planning

Templeton (Aust) Financial Services is aiming to start a new program in schools to engage students with their finances and encourage them to consider financial planning as a career.

The firm said it had been concerned where the next generation of financial advisers would come from given only 250 entered the industry in 2021, according to the regulator’s Financial Adviser Register (FAR).

Templeton’s actions included taking on approved new entrant advisers, obtaining resources for students from the Financial Planning Association of Australia (FPA) and reaching out to schools in Sydney to give presentations.

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Rob McCann, chief executive, said: “Our goal is to start a program for year 11 and 12 in a limited number of Sydney schools, and for students to start thinking about their own financial literacy and understand the power of investments and planning.

“We also want to create opportunities for seniors at school level – to undertake work experience with our advisers and to explore other opportunities should they want part-time work during their study period.

“Ensuring high school students understand the value of financial planning, investments and risk is paramount to getting them interested in working in the financial services industry. The industry must take steps to get school leavers interested in doing an approved university degree in financial services. All licensees need to become involved and work with the schools and, ultimately, the universities on placement opportunities following graduation.

Research by Future IM/Pact found that students needed to be introduced to financial planning at university as they were unlikely to found out about it post-graduation, particularly women.




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