Massey considers financial planning degree

Massey University is considering offering a new financial adviser degree-level qualification and is looking for input from advisers.

Monday, June 17th 2013, 6:00AM 10 Comments

by Susan Edmunds

Director of financial planning Claire Matthews said it was a response to requests from the sector for a full degree to help boost professionalism.

It would be similar to the Bachelor of Accounting degree for accountants.

A degree is already required for advisers in Australia and many other countries.

She said it would offer a way for school leavers to get into financial advice as a career option.

But she said advisers’ input was important to ensure the degree met the needs of the sector.

“There has been speculation that in due course a degree will be the minimum requirement for Authorised Financial Adviser status in New Zealand – while this is likely to be some time in the future Massey intends to be well-placed for that eventuality.”

She wants advisers to fill out an online survey being conducted by Hanover Research. Those who complete it will be in the draw to win an iPad.

To complete the survey, which will take 5-10 minutes, click here

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Comments from our readers

On 17 June 2013 at 11:39 am Degree holder said:

Great idea! As long as there is an opportunity for those of us with existing commerce degrees to cross credit, do the additional papers and meet any new standards.

On 17 June 2013 at 8:16 pm Frustrated said:

Have done the survey very disappointing all questions were asked as to what is important to an Employer - for goodness sake most advisers are self employed typical for Massey to not understand this.

On 18 June 2013 at 1:28 pm w k said:

@frustrated - sadly, most people, regulators, academics and some advisers included, still do not understand the concept of financial planning.

On 18 June 2013 at 2:01 pm Obvious said:

Have done the survey too. While many questions do state employer, remember, that as a self employed person, you are your own employer...so they are very relevant...would you employ yourself?

On 18 June 2013 at 2:33 pm brent sheather said:

agree..the survey was stupid..self serving non relevant questions...almost as if the person in charge had no practical knowledge of the industry let alone what was required to address the issues.

On 18 June 2013 at 5:48 pm Claire Matthews said:

I dispute the claim that "most" advisers are self-employed, but acknowledge that many are. If you feel that you were not able to adequately express your views via the survey I would welcome direct feedback to me via email (C.D.Matthews@massey.ac.nz)

On 18 June 2013 at 7:37 pm Peter Maclean said:

My 1st time on this site, it got a mention on National Radio today while I was working, and, look, here's Massey engaging research about financial Advisors. Steve Maharey was my tutor a million years ago so I like to think I knew him once...a decent man, anyway... my point is and I apologise in advance to who ever runs it.... um... 'Hanover' research, 'Hanover'surveys..... anyone see a problem here? I'll go back to my book, pity I can't go in to win the Ipad..eh?

On 21 June 2013 at 5:20 pm Lindsay said:

This is great.

We can all go to meetings and address each other as Doctor.

Just need to get the public to recognise the profession.

On 25 June 2013 at 10:58 am AFAMuggins said:

Obviously, Massey and it's spokesperson have a vested interest in this. Its how they earn income.

I would genuinely be surprised if the majority of practicing advisers think this is a great idea.

The increasing cost of providing advice in time and money does no favours to the consumer. Now we need a degree as well?

The survey appears self serving.

On 27 June 2013 at 9:08 am Kevin said:

Best thing you could do is get 30 brokers in the room who have had over 10 years experience to share their knowledge. Way more valuable than a degree run by an academic who has never sold life insurance and can't relate to people...

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