Courses which focused on helping financial advisers navigate key changes in the industry, attracted the strongest enrolments throughout 2022 at the TAL Risk Academy.
A statement from TAL says that in 2022, the TAL Risk Academy recorded:
- 11,000+ course enrolments
- 12,500+ CPD hours issued
- An average course satisfaction rating of 4.7 out of 5
- Over $50,000 in course fees donated to the Australian Business Community Network charity
TAL General Manager, Retail Distribution Individual Life, Niall McConville, says the financial advice industry has undergone significant change in recent years “…and life insurers have an important role to play in supporting advisers through education.”
He adds that for the financial advice industry the past year has been largely characterised by the changes to Income Protection products, alongside a spotlight on potential reform of the industry through Treasury’s Quality of Advice Review, and this was reflected in adviser enrolments at the TAL Risk Academy.
The courses with the highest attendance included:
- The Income Protection Masterclass, a practical course on the new Individual Disability Income Insurance (IDII) landscape
- A course on fee structures
- The most popular course, The Adviser as Nostradamus, which covered changes in the advice process and documentation, focusing on the Code of Ethics’ requirement for advisers to consider clients’ long-term interests
McConville says that industry-aligned courses on topics ranging from the fundamentals of Income Protection, through to more in-depth case study analysis of emerging advice strategies, “…have enabled advisers to extend their knowledge and skill base while continuing to deliver value for their clients.”
He notes that in 2023 the Quality of Advice Review could lead to further change for the industry.
“We encourage advisers to take the opportunity to catch up on CPD learning during the first few weeks of the year and consider undertaking courses required for the Professional Year.”
He adds that TAL is grateful for the adviser support of the the program and that “…through providing adviser education we can continue to support and build advisers’ capabilities, ultimately contributing to improvements in the quality of advice for all Australians.”
The TAL Risk Academy Masterclasses attracts a small fee which TAL donates to charity partner the ABCN, with more than $50,000 donated in 2022. The insurer says these funds helped it reach a donation milestone of more than $800,000 in the past seven years to ABCN, supporting the education of Australia’s future generations.
