The number of registrations for the financial planning AMP University Challenge has doubled over the same period last year and teams still have time to enter.
The competition, now in its second year, provides students with the opportunity to find out first-hand what it’s like to be a financial planner and is open to students from any academic discipline.
Last year’s competition saw entries from all Australian mainland states, including the University of Melbourne, University of Western Sydney, Queensland’s Griffith University, La Trobe University and Monash University in Victoria.
So far this year 41 teams have registered and the competition has been expanded to cover both 2012 semesters. Submissions for semester 1 are open until 18 May.
Practical integration
Lecturer in financial planning at Griffith University, Julie Knutsen says the competition gives students a great opportunity to develop critical-thinking capabilities in a real-world financial-advice context.
“The competition emphasises quality advice and it’s pleasing to see universities and industry partners such as AMP working to strengthen the skills of our graduates and the next generation of professional financial planners,” she said.
La Trobe University students who entered the competition last year gained credits towards an assignment for the Capstone financial planning subject and the University is encouraging all financial planning students to take part this year.
“The practical experience gained from the AMP University Challenge complements our financial planning courses and the work-based learning approach that we integrate into our curriculum,” said Marc Olynyk, senior lecturer in financial planning at La Trobe University.
“A third of all students took up the challenge last year and we would like all our students to participate this year,” said Olynyk.
La Trobe University students secured a first and a third prize last year and, with the opportunity to win up to $5000 for the team or individual, registration for the Brisbane 2013 AMP planner conference and a $10,000 donation towards financial planning-related initiatives for the team’s university and other prizes, competition in this year’s challenge is bound to be fierce.
Five finalists will be invited to attend ‘Finals Day’ at AMP offices in Sydney in October.
“One of the aims of the AMP University Challenge is to increase awareness of financial planning as a career choice. That’s why it is open to students from any academic discipline,” said AMP Horizons director, Tim Steele.
“But for those currently studying a degree in financial planning, it enables them to put their theoretical knowledge into practice, an opportunity that both students and universities value.”
To find out more or enter the AMP University Challenge, click here.
McIlroy out, Roy in
In other AMP news, Multiport managing director and founder John McIlroy will leave the business in June this year.
Libby Roy, previously head of financial planning at ipac, will transition into the role in an interim capacity from 16 April.
Mutliport, an SMSF and managed-accounts provider, was acquired by AXA Australia in 2009 and became part of the AMP Group in 2011 following the AMP/AXA merger.
Most recently Roy was general manager of ipac Financial Planning with responsibility for the company’s in-house and equity-partner network of approximately 150 advisers with more than $5 billion in funds under advice.
In a statement, AMP said McIlroy would take a short break after leaving Multiport and will then pursue other business activities.
