NAB Financial Planning will support the future of Australia's financial planning industry through a new university scholarship program and a commitment to academic research funding.
Four Australian universities will participate in the NAB Future Planners Scholarship program, assisting NAB Financial Planning's efforts in promoting financial planning as a career, increasing diversity and supporting professionalism.
Ten $5000 scholarships will be awarded to students undertaking a business-related bachelor degree majoring in financial planning. Recipients will also receive an invitation to a NAB FP professional development day and a mentorship with a senior NAB financial planner.
In partnership with the Financial Planning Association (FPA) and the Financial Planning Education Council (FPEC), NAB FP will also contribute $10,000 towards academic research focusing on the customer experience and achieving greater understanding of the barriers to seeking advice.
"Financial advice contributes to the financial security and wellbeing of millions of Australians, and there are many more in the community who could benefit from the help of a planner. We believe these scholarships and research will not only attract great emerging talent into the industry but ensure that more Australians can benefit from advice," NAB FP general manager Tim Steele said.
"By championing research in collaboration with our academic partners, we also hope the insights will be used to improve the work the industry does as a whole, and to help more Australians to access advice."
The campuses participating in the program are Deakin University, RMIT University, Griffith University and the University of Western Sydney, while particular emphasis will be placed on gender, cultural diversity and applicants from regional areas when selecting recipients.
Applications for the NAB Future Planners program are open until 5pm on 14 April 2017, with recipients to be announced in May.