Super fund planners least likely to have tertiary education
Planners employed by superannuation funds are the least likely to have a third-level education, the Money Management Salary Survey reveals.
Data collected by Money Management found that almost 60 per cent of planners working for super funds did not have a Bachelor's qualification or higher, while retail bank-employed planners were the most likely to hold a Post Grad or Masters qualification (48 per cent).
The survey found that 29 per cent of super fund planners level a Diploma in Financial Planning (DFP), while a further 14 per cent held an Advanced DFP, and 15 per cent reported that their highest academic qualification was from high school.
While 58 per cent of planners employed by a financial advisory said they had a BA or higher, with 27 per cent holding either a Post Grad or Masters, with 57 per cent of those working for accounting practices holding a BA or higher.
Planners working for advisory and accounting practices were the most likely to report that an Advanced DFP was their highest academic achievement (28 and 29 per cent respectively).
Despite having the lowest levels of academic achievement, planners working for superannuation funds were the second most likely to be studying — or planning to — for a professional qualification (43 per cent), behind retail bank planners (52 per cent), with 38 per cent of advisory-based planners reporting they were looking to bolster their professional qualifications.
The survey found that just 14 per cent of accounting firm-base planners were studying for a professional qualification.
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