Financial planners prepare and develop financial plans for individuals covering all areas of money management, including taxation, retirement, superannuation, insurance and estate planning.
Where financial planners are employed
Financial planners work in financial planning organisations, banks, building societies and other organisations within the finance and investment sector.
People in this occupation have a legal obligation to provide sound advice, which means that the job has considerable responsibility attached.
Full-time financial planners in South Australia generally earn more than $1,600 per week.
Firms usually recruit applicants who can demonstrate a strong academic background. It takes some time to gain the experience required for advancement and many firms demand specialised qualifications or relevant experience. In 2011 there were 1,492 people employed full-time as financial planners in South Australia compared with 1,471 in 2006.
How to become one
Usually you need a vocational education and training (VET) qualification in financial planning or financial services or a degree in finance, financial advising, financial planning or financial services at university. At school consider doing English, mathematics and business related subjects.
See courses related to this occupation.
You can also become a financial planner by completing a degree in finance, financial planning or financial services at university. To get into these courses you usually need to gain your South Australian Certificate of Education (SACE). Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. A number of universities in Australia offer degrees in these areas. Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact Open Universities Australia or the institutions you are interested in for more information.
For information on course admission requirements and how to apply to the universities and TAFE in South Australia visit the South Australian Tertiary Admissions Centre (SATAC).
Check South Australian Universities at The University of Adelaide, Flinders University and University of South Australia.
For information about Australian universities visit Quality Indicators for Learning and Teaching (QILT).
Licensing or registration requirements
Depending on the type and level of advice you are providing you may require licensing to meet the Australian Securities and Investments Commissions (ASIC) RG146 regulatory standards.
Employers will require a minimum of a Diploma level of education and RG 146 accreditation.
To find more information about the current courses available and training providers – search Find a training course.
Recognition of qualifications obtained outside Australia
If you have overseas gained qualifications and experience as a financial planner, you must gain recognition and accreditation to meet Australian industry requirements and standards. You may be able to have your skills and experience assessed to the minimum education level required by industry through a Registered Training Provider authorised to deliver the relevant course. Further gap training will be required for you to gain licensing and meet local industry standards and requirements.
For information about assessment of overseas qualifications, and looking for work in Australia visit Recognition of overseas qualifications or contact Specialist Migrant Services on 08 8303 2450 or email firstname.lastname@example.org.
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