Kaplan Professional's Financial Services Industry Induction course is a worthy appetiser for those new to the game, according to brokers who attended it.
Kaplan Professional's Financial Services Industry Induction course provides a broad introduction into the industry, covering the function of the financial system, the regulatory environment, overview of the markets, products in the industry and current issues.
Despite financial planning and mortgages differing from a regulatory stand-point, the course is increasingly appealing to brokers who want to keep up with the heightened emphasis on offerings in training and education.
According to Rohan Kerr, investment advisor and director at Kerr Allen Financial and presenter, this particular course attracts enrolments from budding stockbrokers and sales and marketing professionals to bank tellers.
“It’s for people wanting to crack into the industry in any number of capacities. You’ve also got to want to have knowledge of finance and an enthusiasm for it,” he says.
Kerr, whose past employers include Westpac and Macquarie Bank, says many companies in the sector undertake such courses for licensing purposes and the participants are obliged to take part.
He says on most occasions there’s a mixed level of enthusiasm - those who demonstrate interest in engaging with the course material and are interactive and responsive will be the ones to benefit most.
This type of participant is also more likely to impart their knowledge back to the business.
“At the end of the day we’re after an enhanced level of knowledge,” he says.
At the end of the session, Kerr says it’s common for participants to approach him for feedback and to seek industry contacts, but he’s also taken it upon himself to mentor several attendees.
“If they’re asking question and interacting I can see who will take what out of it. It makes it a much more interesting session when they’re involved,” he says.
From a presenter’s perspective, the additional income stream is a rewarding incentive, but Kerr’s motivation stems from giving back to the market and doesn’t believe any of the course presenters are driven by financial gain.
“I enjoy working in that environment with people that are keen to work in the industry and it’s very rewarding to do that. If I didn’t enjoy it I wouldn’t do it,” he says.
Kerr has also been able to be benefit professionally in presenting the course, saying it provides invaluable insight into the thought processes of those entering the industry, particularly those of Generation Y participants. He’s been able to apply some of this knowledge in recruiting staff for his own business.
According to Wade Burgmann, consultant at BOSS Finance and course participant, the half day presentation provided a broad understanding of the financial markets.
Burgmann undertook the course with a number of colleagues who’ve been able to apply some of the knowledge to their day-to-day recruiting of banking and finance professionals.
“It’s good as a refresher…good in terms of the notes you take away and in terms of having a professional to talk through and give examples and talk knowledgably. He was very good,” he says.
Because the course is conducted over a short amount of time, Burgmann believes many of the 30 odd participants will continue onto the next level of course which would provide more detail.
For Burgmann and his colleagues, the objective behind enrolling was to obtain an overview of the financial services system and structure, and invariably to be more conversant with borrowers in his job.
“It’s really about me being able to understand more about what these interviewees actually do,” he says.
Burgmann says time constraints prevented the participants from being more interactive and engaging with Kerr, however, if questions were asked, particularly around financial acronyms, they were well-addressed by Kerr.
Like many participants, Burgmann’s employer paid for him to undertake the course, and he wouldn’t hesitate if another such opportunity presented itself.
“Yep, I’d certainly do it again. If it’s relevant and can help you in your role then it’s a good thing. It can’t hurt and it was time well spent,” he says.
