The Financial Advice Association is set to continue with its Women in Financial Planning Mentoring Program in 2024 and is looking for sponsors after government funding was not renewed.

The initial program, which was launched in February 2022, was run by the FAAA through a $2.2 million grant from the Office for Women in the Department of the Prime Minister and Cabinet.

The program aimed to support women to further their careers in financial services by matching eligible women in seeking guidance and support with more experienced mentors.

The first program paired 96 mentors and mentees from February to August 2022, while the second program paired 36 mentors and mentees from March to October 2023.

Although the government funding ran out in late 2023, and was not renewed, the success of the program is such that the FAAA is aiming to continue it in 2024, and is in the process of looking for sponsors.

The FAAA Women in Financial Planning Mentoring Program is a six-month program that matches female FAAA members with another experienced FAAA member in a mutually beneficial development program.

The program involves:

  • Online training, reading material and workshops
  • Three scheduled program webinars to track progress
  • At least monthly contact between mentor and mentee