Time to up-skill to combat employment woes
Financial professionals may look to increase their skills and qualifications to differentiate themselves in the job market as a result of the current financial downturn.
RMIT professor John Toohey said Australia is likely to follow the US with an increase in enrolments in postgraduate business programs, particularly MBAs. He added that business schools will need to focus on developing professionals who are “motivated by ethics as well as profit”, with the current crisis being “linked to an acknowledgement that the ‘masters of the universe’ have failed us”.
Toohey said MBA programs emphasising corporate responsibility would fashion a new approach in the finance industry, with a new generation of business leaders facing the challenges resulting from the financial downturn.
“This next generation of business leaders will have to be prepared to be innovative and radical, while holding firm to the highest standards of ethics and corporate responsibility,” Toohey said.
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ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
