Finance Jobs and RG146

[Deezo]

Hi

 

I am directing this post at anyone who is currently working in the Financial Sector in Australia.

 

Preferably the Financial Planning and Advisory industry or the Banking industry.

 

We are busy with our immigration process on my wife's Bachelor of Education but I would like to stay in the Finance Industry as it's all I know.

 

I presently have an NQF5 Wealth Management Diploma and believe that I would need to complete the RG146 before I am able to work in any finance industry?

 

If that is correct then I would like to know how long it would take to complete and how difficult it is as I would like to start before we leave.

 

Then lastly what is it like working in the Finance Industry and have you got good potential to earn well and build a solid career?

 

Thank you   

[Riddlessaffa]

Hi Deezo,

 

I am in the same situation. I have sent an email to http://www.mentor.edu.au/ and asked what the requirements are? I will keep you posted on the reply. 

[Gazza]

To both Deezo and Riddlessaffa

 

I will attempt to answer some of your questions since although I am not RG146 accredited myself,  as I don't need to be, I do work for a big bank in Aus and deal with Regulatory and Compliance matters on a daily basis.

 

Firstly I would refer you to the Kaplan website which provides most of the information you need.  Kaplan is the service provider for our banker accreditation.  http://www.kaplanprofessional.edu.au/courses/financial-planning-qualifications/

 

It will depend on what exactly you will be doing in the financial industry and whether you will actually need to be accredited and if so whether tier 1 or 2.  If you are not in sales then you don't need the accreditation.

 

Regarding the last question, again dependent on what your background is and whether you are after a sales position or a support position.  In SA I worked in the First Rand group and banking systems are the same all over the world.  It is just the size that differs.  Potential there definitely is.  Hard work and patience shows results.

 

All the best with your endeavours.

[Deezo]

Thanks so much for the comment @Riddlessaffa  

 

At least i am not alone...lol

 

Thank you for your input @Gazza   

 

From what i have heard from friends in Aus that are also in the industry its becoming harder and harder to get a job in sales or where you provide advice without a Degree in Finance along with RG146  As RG146 is just an entry requirement but then depending on the position you would still require a Degree to accompany the position and this would obviously depend on the position or level as well...

 

So what i am going to do is register for RG146 as soon as our Visa is Granted and then wait until we get to Aus and see what can of jobs i can get in the Finance sector as we will be based in Sydney so there should be a fair amount of work available (touch wood) and then if im not making much progress then i will do the Advanced Diploma as i dont really want to be in an Administrative type position. I enjoy sales and providing advice etc.

 

I would ultimately like to work towards my CFP but for now just want to ensure i can be "job ready" and get an adequate income to survive and then allow me to save towards my studies etc

 

Thanks again and i will update this thread once i know more and once we land in Aus etc  

[Riddlessaffa]

Thanks Deezo and Gazza

We still have a long road ahead as my wife is only at the stage of getting her skills assessed.

I have just finished my Postgraduate Certificate in Financial Planning from the University of the Free State and will be writing my board exam in Feb to get the CFP designation. Will possibly do Advanced CFP next year too. Not sure how it will translate over in Australia but I also would rather be in sales/advice so looks like I'm going to have to get RG146.

Gazza, I am currently working for the First Rand Group so would be interested to hear what your experience has been with the bank over there. 

Deezo, Good luck with your travels  

[Deezo]

Pleasure @Riddlessaffa  

 

At least you have your CFP!!

I dont know what you would need to do but perhaps the RG146 will align you to the Australian tax and legislation fundamentals so that you can provide advice but all the best with your next steps on the skills assessment etc  Its a long process and gets even longer once you lodge as the waiting kills you!!

[Riddlessaffa]

Thanks Deezo

I have just found out that CFP is transferrable to Aus and RG146 is a must. Having a consultation with a training consultant tomorrow morning so hopefully he will be able to answer any other questions. If you are planning to get your CFP in Aus then start saving. Looks like an expensive episode. Will let you know what the consultant says. Cheers

[Deezo]

Thanks for the update @Riddlessaffa  

 

Great to know for your sake that you can transfer the CFP over!

Pity you still have the do RG146 but i guess you would want to anyone to be aligned to legislation and tax etc.

I have also heard its not too difficult and can be done in 3 weeks or so?

 

I wish i could get my CFP here but i haven't even started my NQF6 yet and i cant spend anymore money in SA as we want to get out as soon as our visa is granted so i will have to just take my time and work towards it and pray that i work for a company that would be willing to cover the costs etc...  

 

All the best and thanks again!