A survey conducted by Aged Care Steps and Swiss Re found that Australians were most likely to seek advice on aged care after a medical event or crisis situation, and least likely to do so as part of planning for life post-retirement.
Speaking at a media event in Sydney on Monday, Aged Care Steps director Louise Biti said this highlighted the need for advisers to commence these conversations.
“[Clients] don’t understand how complex the financial side can be or what the problems of not having someone else guiding them are, and I think they’re the key that we have to get consumers thinking about,” she said.
Ms Biti said this was already starting to happen as part of the shift towards goals-based planning.
“Financial planners are starting to realise that they need to instigate that conversation because clients are not going to, and I think with the shift towards more goals-based financial planning that shift is starting to emerge,” she said.
My point is experienced advisers will be forced to re-learn basic material to meet elementary core materials set down by FASEA. So when I enroll in the Kaplan super and retirement planning it will be the third time I’ll be required to write a 7000 SoA.
Kaplan is the only University currently offering Aged Care as an “elective”, and it’s only an elective in the full Masters Program. It’s not offered in any Graduate Diploma program in any University and wouldn’t meet FASEA core areas anyway. Most advisers will need to enroll in a Graduate Diploma at the expense of learning technical specialist materials.
This just highlights just how stupid FASEA is.
I would like to study aged care in depth, but unfortunately those studies are on hold as I now have to enroll in a Graduate Diploma and study Super 101 and write a 2500 word essay on the super co-contribution in order to meet FASEA core areas of knowledge, despite my holding a Degree already. Not only that but the Graduate course is $2,200 so I’m saving my money Age Care Steps. It’s a matter of priorities. I run a small business so I’m constantly reading about HR,Marketing, IT, constant legislative changes that are not covered by a Uni Course and of course looking after clients. Bugger I’m only up to 1900 words on the co-contribution I wonder what I’m missing.
Correct McGlashen about FASEA- Aged Care is an elective that you can do in the Kaplan Masters but the FPEC list says a Masters with Kaplan should have the Debt Strategies and SMSF.
FYI though the assignment I was required to complete for Kaplan Super and Retirement planning subject was a 7000 word Statement of Advice – though co-contributions were mentioned
Maybe keep that 7000 word SoA as you could just submit it again when we all have to do Degrees every 10 years. I think it’s only fair.
sorry but that’s plagiarism
plagiarism (theft) is copying someone’s work, plagiarism is not copying your own written words. You’ll learn that when studying. I’m sure it will be very beneficial when you’re talking about stock market crashes…not.