Kaplan Professional is looking to launch a dedicated Bachelor in Financial Planning undergraduate degree next year.
This would be the first undergraduate degree offered in financial planning by Kaplan as its current offerings focused on postgraduates and were Master of Financial Planning, Graduate Certificate in Financial Planning and Graduate Diploma in Financial Planning.
While there were options available to study financial planning at an undergraduate level at other universities, these were usually as part of a wider Commerce or Business degrees such as Bachelor of Commerce (Finance and Financial Planning) at Curtin University and Bachelor of Business (Financial Planning) at RMIT University, although these were still approved for the Financial Adviser Standards and Ethics Authority (FASEA) requirements.
Brian Knight, chief executive of Kaplan, said the direct approach would be quicker.
“We are close to launching a Bachelor in Financial Planning degree, this would open up education requirements, there are not enough advisers in the industry so this needs to be an option,” he said.
“We are working to get that accredited and working with the industry and licensees to work out what is needed in terms of curriculum and skillset and ensuring students are equipped with what the consumer needs. We have been working on it for two years and it should be regulated next year.”
He said students were less likely to be put off by the FASEA requirements as they understood that education was a lifelong journey and were undeterred at the prospect of taking more exams.
Finance modules should also be taught in schools, he said, which would give students an early understanding of finance and the possible jobs available once they graduated.
“We need to think about getting that skillset and curriculum in schools such as an understanding of tax, insurance and super, that’s the future and it will be a challenge for education providers to better equip students with this knowledge,” Knight said.
Comments
Kaplan is not a credible university. Good for general PD but please don't try and tell us there is sufficient academic rigor for a degree, let alone a post graduate. This is just a money grab and will not help the credibility of the profession.
I don't know if you've done an Undergrad degree in the past decade but Kaplan actually better supports it's students than most Uni's. Most FP courses in Uni's are taught by those with no experience in classes full to the brim of international students.
I completely disagree with this. After undergrad, I started the master's in FP at Kaplan and the standard was well below university level so I switched back to a GradDip. At the time, Kaplan was providing substantially more content through CPD modules than their master's program, which had zero contact hours and typically 30-40minutes of lecture content for an entire subject. Compared to a university, Kaplan offered less than 3-5% of the lecture/tutorial/workshop time. They also did not have a textbook and the quality of their master's was lower than the CPD modules in my experience. I felt like I would be doing future clients a disservice if I stayed there.
Hmm idk. I did BFin 5 years ago with a major in FP and found the 3 units related to FP very lacking in substance and real-world application.
I would agree that subjects not directly related to FP (Econ, Stats etc) is better taught by a Uni. But FP subjects I have found to be much more useful through Kaplan than the Uni I went to.
5 years ago is very different to now. I completed my undergrad in finance 2 years ago and am doing postgrad now (which is new at this university), having quit the Kaplan master's last year. Maybe your university wasn't very good but it may have improved by now.
From my personal experience with first Kaplan and then transferring back to a university, I can argue against both the points of "no experience" and classes being "full to the brim [with] international students".
Firstly, my university has current advisers speak for an hour every week about their own experiences. This is much more than Kaplan ever provided when I was enrolled in their master's program.
On the second point, while my classes have only a handful of international students (fewer than a dozen when combining both undergrad and postgrad at this university), we can look across Australia to see that on a national scale it is likely similar. We would expect to see that in publicly available statistics about people enrolled in financial planning degrees. However, this is not the case. Regardless, they have no negative impact on education quality and the interaction they provide has improved my learning because my classes are now interactive in contrast to the classes with Kaplan.
I'd love to see what degree(s) you have done.
I am guessing you are a very ordinary accountant in their late 50's, a has-been, mostly a professional and personal failure struggling to pass the fasea exam having had sat twice and failed, and waiting for your last chance soon (operating from your mother's garage eeking out a meager living) with a bachelors degree done about 30 years ago which you barely passed, that is just scraped by (you do understand knowledge gets outdated and that is why no Australian university accepts study done more than 10 years ago as credit towards further study)
so you have no retort, as a miserly failed person but to come and cast aspersions on those who are not only younger but also more successful than you, as I can understand failure at this late stage in life is very hard to accept. described you perfectly didn't I?
so c'mon grace us with your august qualification. let's see your high standards pal. no?
off you go to your little garage. you are lucky it's still chilly must get very hot in summer without any air conditioning.
You could have replied to my comment, which is relevant to the past year but instead you've projected some serious insecurities on the first commenter. Strange, no?
they posted it in the wrong place. fool.
I've replied to your utterly stupid post below. see bottom of page.
After this semester I'll have 3 degrees and they're likely all higher quality than yours. I'm fresh out of university as a 20-something year old, so your delusions about some accountant or person over 50 are the result of your own absurd projections. If you feel inadequate about your own qualifications, work life, and are incapable of addressing any of my points in this comments section without some fictional monologue, then you should reconsider the state of your mental faculties and seek support where needed.
hey turd head, no one is responding to you pimple head. you wish I have more than 3 degrees. I am responding to wonder dog. they keep posting my responses to old dog to yours.
you lack English omprehension must not be a very good degree that you have, to do 3 keep doing it and join the queue if you are really good and patient a successful adviser like me will employ you to pick up their dry cleaning.
good luck chump.
You responded to me, so that's what you get. You're not very good with insults and clearly can't comprehend what I said either. While I do not wish to elaborate too much on my personal details, I am working for a more successful adviser than you and will be advising next year :)
All your points so far have been totally moot and without any substance, or addressed anything that I've said about the Kaplan degree. It's remarkable anyone tolerates you when you can hardly string a sentence together, and neither follow nor articulate any sequence of thoughts coherently.
How anyone like you could still be advising with such impaired abilities (let alone complete the Kaplan master's) speaks to the remaining longevity someone like you has in the industry.
Wow. I sure hope that all new entrants to financial advice are not conceited or self important as what is being demonstrated here.
This is cracking:
"At the end of this Semester I will have three degrees and they're likely all higher quality than yours."
"I'm fresh out of university as a 20-something year old."
"I am working for a more successful adviser than you and will be advising next year."
I thought the profession was doing well at detracting wankers from becoming AR's. Maybe not.
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