Financial planning degree on horizon

Massey University is planning to launch a degree in financial planning, next year.

Monday, March 11th 2019, 6:00AM

Massey has been mulling the possibility of the degree since 2013.

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

A survey was circulated at that point, seeking input from advisers.

But then deputy pro-vice chancellor Claire Matthews said it was put on hold because there needed to be a sufficient market for it, to justify its development.

She said it was also important that the content and structure met the markets requirements.

Work started with Strategi in 2017 to develop a programme.

Matthews said the launch was planned for next year, although it was still subject to both internal and external approval.

Ara, the Institute of Canterbury, offers a Bachelor of Applied Management with a personal financial planning major.

Financial Advice New Zealand chief executive Katrina Shanks said she was working with the Financial Planning Standards Board to see if it was possible to have the Massey degree recognised in other jurisdictions around the world as part of the CFP programme.

She said, if it could be recognised in other countries it would boost the numbers of students coming on to the Massey course, and make it more viable.

“That’s how we are assisting the process to get the financial planning degree off the ground.”

She said while the existing regulatory regime that differentiated advisers into RFAs and AFAs had taken some of the focus off the higher standards of qualifications available, the new regime might encourage more interest.

Financial Advice New Zealand is also working with Massey University on the prospect of offering CLU papers. This year, 12 people expressed interest in the course – an insufficient number to launch it.

The new code of conduct for financial advisers is likely to require a level five qualification for all, although it has been hinted that investment advisers and financial planners may need a degree in future.

Tags: Massey University\ qualifications