Govt capping forces closure of Finanicial Planning Diploma

The University of Waikato has cancelled its Postgraduate Diploma in Personal Financial Planning this year and re-directed financial advisers to other courses because of the government's university capping restrictions.

Wednesday, August 4th 2010, 5:14AM

by Jenha White

Waikato University has offered this qualification for many years but with a capped funding environment and high demand for places in all programmes at the University, there were no positions available for a September intake.

The Centre for Executive and Corporate Education has withdrawn the course from this year's schedule.

Waikato associate Dean of Enterprise, Corporate and Executive education Peter Sun says financial advisers have been enquiring about the Diploma as the Draft Code states it is an alternative qualification for the Unit Standard Sets A and D in the National Certificate in Financial Services (NCFS-5).

Those in the industry wishing to become authorised financial advisers (AFAs) have to pass NCFS-5.

“We have had to direct financial advisers to Massey University instead as it does not have the capping issue,” he says.

“It is very unfortunate and it was a position that was not taken lightly.”

Sun says Waikato University agreed to a target of 8391 funded Equivalent Full Time Students (EFTS) this year, however it exceeded these caps by 103%. As a result there was no way the Postgraduate Diploma in Personal Financial Planning could take in new students, so it was withdrawn from this year's schedule.

The Waikato Management School met yesterday to start to creating a detailed strategy plan for 2011 and the following five years.

“We will talk about the number of executive students that want to enrol in the program so we can reserve places for them.

“We will also be looking at a strategy to partner with financial institutions because then we will be able to better manage the number of students,” says Sun.

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

« News Round Up

KiwiSaver mismatch a 'huge challenge' for advisers »

Special Offers