About RG146 and mandatory qualifications
To become a qualified financial adviser you will need as a minimum to comply with ASIC's Regulatory Guide 146 (RG146).
In line with AMPs commitment to higher education for all advisers within the AMP network, to be eligible to apply to the AMP Adviser Academy you must also hold a university degree.
You will need to be RG146 tier 1 compliant in the following competencies:
- Financial planning
- Managed investments
- Life insurance
- Generic knowledge
Typically this is gained by achieving a Diploma of Financial Planning/Services via a Registered Training Organisation (RTO) and, while we don't recommend any one RTO to obtain your RG146, a number of our students have studied successfully through:
- IIT Education iit.edu.au/
- Kaplan kaplanprofessional.edu.au/
- Integrity integrity.edu.au/
- Pinnacle pinnacle.edu.au
- Monarch monarch.edu.au/
- TAFE opencolleges.edu.au/
- Upskilled upskilled.edu.au/
Course content, duration of study and delivery methods vary between training providers so we recommend researching each provider and selecting the one most appropriate for your needs.
During the selection process for AMP Horizons courses, your technical ability will be assessed as part of your application process to ensure that you meet our benchmark.
If you completed RG146 two or more years ago, you may wish to complete a refresher course as there may have been changes since you completed your qualification. The technical component is an important pre-requisite and assumed knowledge for being a professional financial adviser.
Higher Education Standards
Recently AMP announced its higher education standards which states that by 2019 existing planners in the AMP network must have one of the below qualifications/delegations (new advisers have five years to get one of these):
- Master of Financial Planning
- Certified Financial Planner (CFP) through the Financial Planning Association (FPA)
- Fellow Chartered Financial Practitioner (FChFP) through the Association of Financial Advisors (AFA)
AMP has taken the lead with these standards and the wider industry is sure to follow with our competitors announcing similar initiatives.
In order to help our existing and new planners achieve this level of qualification, AMP has partnered with Griffith University to offer a Master of Financial Planning program. Depending on previous qualifications and experience, there are two entry points to this program:
There is potential for you to get credit for your previous qualifications and experience, however, Griffith University will confirm this. You can contact the Griffith University business via emailing firstname.lastname@example.org calling 07 3735 4146 and they will help you with your credit assessment.
As well as your qualifications, you will also need:
- Australian citizenship or permanent residency
- A full driving licence for your state or territory.
We have had successful applicants from a number of industries including the armed forces, retail, hospitality, real estate, sports, entertainment and other financial services.
We are looking for individuals with an entrepreneurial spirit, personal motivation and ambition to succeed. You should have a proven ability to meet (and exceed) targets. Most importantly you will require strong communication and relationship building skills and genuine desire to help your clients achieve their financial goals.
Please note the above information is merely a guide. Decisions to approve individual applications to the AMP Adviser Academy is entirely at the discretion of the Horizons management team. Such decisions are based on numerous criteria, including, but not limited to, skills and experience, behavioural interviews, psychometric testing, role plays, background and reference checking.