Through the partnership, Midwinter said it is supporting CQUniversity with access to the technology students will use once they enter the workforce, adding it would set them up for success in their profession.
With the first term completed, the university is further developing its financial planning units around the software, including possibly making the modules mandatory from next year.
Stacey Cowan, head of sales at Midwinter, said: “The Midwinter team has been really impressed with how readily CQU students engaged with the Midwinter financial advice software. With the industry on the cusp of significant change following the Quality of Advice Review, knowledge of advice technology is critical.
“With this partnership, students can practice and learn new financial planning skills and familiarise themselves with real-life technology as they prepare to enter the workforce and become financial advice professionals.”
The partnership includes access to Midwinter’s financial advice software for CQUniversity’s financial planning students, as well as training to support the students using the technology.
Dr Angelique McInnes, a lecturer in College of Business and Law at CQUniversity, said: “Students were highly engaged with the Midwinter software. They were able to familiarise themselves with the software quickly and use the cashflow modelling, super modelling, portfolio modelling, and product comparison modelling tools effectively.”
According to Lachlan Melville, a bachelor of accounting student at CQUniversity, the software gave students an insight into the software financial advisers use.
“We received good guidance from Midwinter around the use of the software throughout the term, giving us important hands-on experience as we look for job opportunities. Use of the technology also allows us to add another skill set to improve our resume,” he said.
The advice software is available to students studying a bachelor of business, a bachelor of accounting, and a bachelor of property studies, as well as other non-business courses with financial planning units.
In March, the financial advice software firm announced the partnership with CQUniversity to provide software to its students undertaking financial planning units.
“The financial services industry is changing fast – and it is now more critical than ever for current and future professionals to understand how technology can help stay compliant and more efficient,” Dr McInnes said at the time.
