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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The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
