Two other options I'm looking at are:

Kaplan (never heard of them)

https://www.kaplanprofessional.edu.au/courses/financial-planning-postgraduate-qualifications/graduate-diploma-of-financial-planning/#section-keydates

Tafe (My guess is not terribly academically rigorous for better or worse, and only over 2 years)

https://www.tafensw.edu.au/course-areas/accounting-and-finance/courses/graduate-diploma-of-financial-planning--HE20530V01/offerings/24ULT-0120

@Hackofalltrades, it's definitely an interesting space and a lot of people are underserviced by the Financial Planning industry, not withstanding the growing number of automated / digital options available.

I think it depends on your intention for which course to go for. If you're 1) looking to educate yourself better (Coursera of similar should do the trick) or 2) to be come a practicing planner.

I was briefly interested in becoming a planner after doing the Financial Planning subject in my Masters of Finance prodgrad a few years ago, as I found the subject matter super interesting.

I then looked into the industry and found it to be rotten to the core due to misaligned incentives. It seems the industry was set up by the industry for the industry. Works like mortgage brokers if you're familiar with that model, except mortgage brokers aren't selling their own / employers product.

My takeaway was that a lot of financial planning is really just sales dressed up as advice.

The commissions that planners make are from the products they are advising (selling) their clients on.

There have been numerous attempts to better regulate the industry, most recently since the Hayne royal commission but the governing body (FIA) is trying to keep control of this effort.

Even the requirement to act in their clients best interest that was established prior to Hayne by FOFA was found to be not acted on by most planners!!

To maintain control the FIA set a requirement for all Financial planners to hold one of a narrow number of FIA certified degrees.

That meant that as a CPA with a Masters of Finance I could not become a Financial planner without doing another postgrad degree.

The previous requirement was a 6 week diploma, no undergrad required. So a huge over reaction and a move in the wrong direction aimed at avoiding more external regulation I expect.

This has led to a large number of planners leaving the industry or retiring early.

All this info is a few years old now so things may have changed since then.

There are no doubt better placed strawfolk with more direct experience in the industry or more recent info, so hopefully they will give you a good steer.

Kaplan is well known in the industry. Universities are starting to get more involved. I think either would be fine - the harder bit is finding a good firm to learn in.

I think it's an outdated view about the industry that its all dodgy, and it has cleaned itself up a lot. There are bad apples in every industry and the barriers to entry to call yourself a 'financial planner' or 'financial adviser' is way too low - mortgage brokers or accountants can get away with calling themselves financial advisers when all they do is want to sell you a loan or minimize tax. Let alone Gold Coast (picking on them) property developers and 'finfluencers' - easy to start a podcast or a twitter/Instagram,/tiktok page let alone the actual scammers with so much money involved.

At the end of the day though you need clients so there is part sales in the job - accountant/lawyers/doctors also do the same.

Commissions aren't usually involved with any investment product these days. Commission only exist in insurance which acts the same way as mortgage broking - people resent paying for insurance so asking them to pay a fee on top apparently results in most people not taking out insurance. Find a good ethical practice that only charges fee for service for investment but will likely have to live with commissions in insurances/mortgages.

I'd say if you like helping people go for it, the industry needs good people, put your clients first but realize you have to make a profit too (so be selective on your clients and don't take everyone that walks in).

Stay humble, learn and don't try and give advice on something you don't know anything about. You go to a property lawyer for property issues, or an estate lawyer for estate issues. I think financial advisers need to specialize too (can't know everything). Same like you got to a GP, they may see an issue but most times they have no idea how to treat a cancer etc. You need to learn it all so you know where there's a gap for the client but that's when you refer.

My impression is financial planning isn't usually picking investments though if that's what you think it is (unless you specialise there), its usually investment structuring, dealing with Centrelink, super contributions, budgeting etc. Also I'd highlight many clients don't understand risk/volatility and losing someone's else's money (even if not permanently) causes a lot of stress and issues for all involved - some advisers are great are focusing clients on the long term not the short term volatility but its hard.

I'm not a financial planner but do know the industry quite well with my job.

Hey @Hackofalltrades

I was in the industry until 12 months ago when I sold my FP business.

I'd be more than happy to have a conversation with you in the new year with you, if you're looking for a career in the industry.

I would echo the excellent points made by @Mujo.....There are many good advisers in the industry and they absolutely do need more.

The thing I really liked about being an adviser was that unlike most other industries, financial advising can give you:

1. Time freedom
2. Work only with people you genuinely like
3. Create the financial life that you want.
4. Hold people accountable to achieve the big goals and dreams in their lives

Anyway, DM me if you'd like to have a chat in the new year.....I'm off white water rafting down the Franklin from 7th - 18th Jan, but happy to chat before or after.

Happy New Year fellow Strawmembers