In a statement, the association said the Queensland University of Technology (QUT) and University of South Australia (UniSA) were this year’s grant winners from the Financial Planning Education Council.
The grants are sponsored by the FPA and MLC, and recognise “those that have demonstrated a commitment to support the development of financial planning as an academic discipline”, the association said.
Funds for QUT will go towards a research project on the relationship between financial literacy, engagement and decision-making in young adults conducted by Elisabeth Sinnewe, a senior lecturer at the university’s business school.
“It is important for our young people to start off on the right financial path,” Dr Sinnewe said.
“Our objective is to understand how to improve the financial habits of young people just starting out in their careers.”
At UniSA, finance professor Chandra Krishnamurti will conduct research into the impact of industry reform on lower socioeconomic groups’ access to advice.
“We thank FPEC, the FPA and MLC Advice for supporting this timely independent and scholarly review of the impact of regulatory reform on the cost of and access to financial advice,” Mr Krishnamurti said.
Each university will receive $10,000 towards their respective projects.
“We congratulate QUT and UniSA on their outstanding work,” FPA chief executive Dante De Gori said.
“Academic research continues to be valuable to the profession, with many projects resulting in papers being published in the Financial Planning Research Journal.”
That’s why Dante gets paid the big bucks! Give the guy a bonus with great work like this he deserves it…! If he is happy to spend FPA member funds on this why would you not be a member?Sign me up for sure!
What about a study which looks at the economics of a financial planning practice? I’ll save you the $10,000 – It is not possible to run a profitable practice, which meets all of the compliance requirements. This is why the banks got out. The only advisers who can survive this insanity are conflicted industry funds who cross-subsidise the fees by dipping into members savings who aren’t getting advice and small business advisers who work nights and weekends like slaves to keep up. Meanwhile the FPA sit in their ivory towers, with their head in the clouds clueless to the carnage that is going on in the profession
This is obviously Dante saying “look what we are doing to help you advisers….good huh?” It seems that he gets a very warm and fuzzy feeling by working around the edges of what the real issues are for the industry – see Tom’s comments! Another display confirming the insipid effort of the FPA to lobby for their fee paying members.
I am appalled the FPA is giving money to course providers. Financial advisers are being robbed blind by course providers thanks to the corrupt FASEA Board. Most financial advisers are being forced to pay up again to repeat education they have already done. Now we are giving this corrupt mob even more money via the FPA???!!!
Very Dumb use of funds FPA. A waste of money….The advice industry is going through so much change and they hand out money to examine the spending habits of 18 year olds. [b]Surely paying for a relevant study that can be used as evidence to ASIC or Treasury to prevent Adviser suicides, red tape, over regulation and rising costs [/b][b][/b][u][/u][u][/u]would have been a much better use of funds. Let me name a fee studies we could have handed money to. How about funding a study on the impact of regulation upon ordinary Australians obtaining advice. How about a Study showing annual FDS, or annual Renewal notices do nothing or SOA serve no purpose, or the impact on regulation on Advice costs. How about a Study showing some people could fail a FASEA exam but still make great advisers? Pretty much no advisers recommend Insurance due to the red tape, why not a study on that. Another cash hand out to a University that wants it Degree or electives approved for CFP certification.
very well said Tom, thank you! If clients with less than $150k to $200k to invest are unprofitable due to rising costs then why the HELL do we need to know what the spending habits of 18 years olds are???????
Great work Dante….. waste of space and time.