NAB Financial Planning (NAB FP) will give $50,000 to university students as part of a newly announced annual scholarship program which will also see $10,000 contributed towards academic research around reducing barriers to financial advice.
The larger of the sums will be offered as ten $5000 scholarships to provide financial assistance for second and third year university students undertaking a business-related bachelor degree majoring in financial planning. Those offered a scholarship will also be provided with a senior NAB financial planner as a mentor and an invitation to a NAB FP Professional Development day.
NAB FP General Manager, Tim Steele said the NAB Future Planners Scholarship program was aimed at promoting advice as a career path and to increase gender and cultural diversity across the sector.
“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,” Steele said.
The program would also result in $10,000 being contributed by NAB FP, in partnership with the Financial Planning Association and the Financial Planning Education Council to research focused on the customer experience and understanding more about barriers to seeking advice.
Applications for scholarships close on 14 April with recipients to be announced in May.
