The founder and chief executive of Platinum Asset Management, Kerr Neilson, says a growing need for informed, impartial advice means the future is bright for financial planning.
Platinum is supporting the Financial Planning Association (FPA) national roadshow 2017, which starts on April 26 and visits 33 locations before wrapping up with simultaneous events in the Goulburn Valley, on the Gold Coast and in Wollongong on June 29.
“We successfully partnered with the FPA in 2014 for their national roadshow, so when they asked if we would like to partner in 2017, we were delighted to accept,” Neilson says. “Platinum will discuss how to identify investment opportunities in global markets at a time of enormous change and disruption.”
In 2017, for the fourth time, Platinum and the Neilson Foundation will award financial planning scholarships worth a total of $300,000 to eight students each at Griffith, Deakin and LaTrobe universities.
Neilson says the scholarships, valued at $12,500 a piece, are to “incentivise students who are passionate about financial planning and who have aspirations to a long-term career in the industry”.
“We recognise the vital role that financial planners play not only in our business but also in the investment management community generally, and we see these scholarships as a way of supporting the efforts of the FPA to raise educational standards and encourage new talent to enter the industry,” he says. “We are in our fourth year of awarding the scholarships and a very important part of the program is the work-experience opportunity also offered to two scholarship recipients annually.”
Neilson says Platinum has hosted six work-experience students, who spend a month at Platinum and most of that time within the investment team.
“This gives them a unique opportunity to observe, understand and evaluate Platinum’s investment process at work,” he says. “We are pleased to be able to assist the scholarship recipients whilst studying at university. What would really thrill us is if those students chose to become professional financial advisers.”
Neilson says the origins of the financial planning profession are “rooted in life insurance and a selling culture induced by commission. However, the Future of Financial Advice (FoFA) legislation is changing the industry and together with the great work being done by the FPA, the future for financial advice is much brighter.”
Neilson has a compelling message for anyone wishing to enter the financial planning profession.
“Start with the simple concept of wanting to help people with the unwanted burden of looking after their hard-earned wealth,” he says. “You will be astonished by how much good that relatively simple and pure thought will reward you with. There is a huge need for informed, impartial advice – and best of all, it’s a fascinating and deep field that needs to be mastered. If you do it with knowledge and integrity of intent, you will be promised a fulfilling working life in every regard.”
For more insights from the FPA on government and regulator policy agendas, register for the national FPA Roadshow. Click here to register.
Professional Planner is the 2017 FPA national roadshow’s main media partner.
