The What, Why and How of Generic Skills: A Financial Planning Case Study (Excerpt)

Australasian Accounting, Business and Finance Journal, 8(4), 2014, 63-82

10 Pages Posted: 19 Nov 2014

See all articles by Craig Cameron

Craig Cameron

Griffith University

Mark Brimble

Griffith University - School of Accounting, Banking and Finance - Nathan and Logan Campuses; Centre for Financial Independence and Education

Julie Therese Knutsen

Griffith University

Brett Freudenberg

Griffith University - Griffith Business School; Griffith University - Griffith Law School

Date Written: November 17, 2014

Abstract

Financial planning in Australia is moving away from its traditional characterisation as an “industry” and towards a “profession”. A key feature of any profession is an educational framework that facilitates the development of technical knowledge and generic skills by students so that they can successfully transition into the workplace. The Australian Securities and Investments Commission (ASIC) is currently reviewing changes to that educational framework (ASIC 2011; ASIC 2013), while the Financial Planning Association (FPA) has recently introduced revised and enhanced educational requirements through the Financial Planning Education Council (FPEC) (FPA 2010; FPEC 2012). Stakeholder input will be critical for the development of financial planning education programs that meet the higher standards of a profession. In particular, what are the generic skills needed by financial planners; and which are currently seen to be most deficient? This paper is an instrumental case study involving interviews with 24 financial planning firms which explore the what, why and how of generic skills. This qualitative study provides a greater insight into generic skills by identifying skill importance and deficiency, as well as possible solutions to assist with the financial planning industry moving to a profession.

Keywords: generic skills; financial planning; profession; graduates; educational framework

JEL Classification: I21, I29

Suggested Citation

Cameron, Craig and Brimble, Mark and Knutsen, Julie Therese and Freudenberg, Brett, The What, Why and How of Generic Skills: A Financial Planning Case Study (Excerpt) (November 17, 2014). Australasian Accounting, Business and Finance Journal, 8(4), 2014, 63-82, Available at SSRN: https://ssrn.com/abstract=2526533

Craig Cameron (Contact Author)

Griffith University ( email )

Brisbane, Queensland 4111
Australia
55587623 (Phone)

Mark Brimble

Griffith University - School of Accounting, Banking and Finance - Nathan and Logan Campuses ( email )

University Drive
Logan, Queensland 4131
Australia
(07) 373 55311 (Phone)

Centre for Financial Independence and Education ( email )

Brisbane, Queensland 4111
Australia

Julie Therese Knutsen

Griffith University ( email )

170 Kessels Road
Nathan, Queensland QLD 4111
Australia

Brett Freudenberg

Griffith University - Griffith Business School ( email )

Brisbane, Queensland 4111
Australia

Griffith University - Griffith Law School ( email )

Nathan Campus, GU
Nathan 4111
Australia

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
84
Abstract Views
787
rank
320,621
PlumX Metrics