MetLife and the Association of Financial Advisers (AFA) launched the MetLife Progress: Professional Development Grant for Women.
MetLife Progress is aimed at creating greater gender diversity in the financial advice industry by helping women achieve their career goals.
The grant will see 15 professional development packages, which include AFA Conference registration for 2019 and attendance at AFA events including masterclasses as well as ongoing events and networking support from MetLife Australia, offered to women.
AFA chief executive Phil Kewin said: "The AFA has a long history of encouraging women in financial services, including the launch of the AFA Inspire community of practice in 2013 which connects and supports women in the profession."
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MetLife head of retail sales Matt Lippiatt added: "We are big supporters of quality financial advice because we believe it enables people to lead better and more prosperous lives."
"We want financial planning to become the career of choice for high calibre women in Australia, so that the profession can attract and nurture more great talent.
"MetLife Progress is one of the practical ways we're supporting the growth of women in financial advice and helping them as they start out on a career long journey of learning."
Also this year, MetLife was announced as the first insurer to join the UN's Women's Global Innovation Coalition for Change.
Applications for MetLife Progress opened on June 24 and close July 12.
Applicants must identify as female, have up to five years' experience as a financial adviser, planner or paraplanner, have not previously attended an AFA Conference and have or obtain an AFA membership.