Life insurance was a key component of this year’s Entireti University Challenge that saw more than 160 students compete for the top prize of $3,000.
Coming out ahead of the rest was RMIT University’s Adele Wraith, with teams from Deakin University placed second ($2,000) and third ($1,000).
Established by AMP in 2010, the competition aims to recognise the next generation of financial planning talent, and promote the sector as an attractive career option.
As part of the challenge, students were tested on their technical knowledge of financial planning, produced and presented a statement of advice, and demonstrated their knowledge of life insurance.
This involved explaining to judges:
- The value of insurance in any financial advice conversation
- How an advice firm may consider connecting with younger clients about personal insurance
- The risks clients may face if they don’t have appropriate insurances in place
Held in Melbourne on Wednesday 29 October, the event’s independent panel of judges featured Steve Sloane, MD, Link Wealth Group; Alisdair Barr, Founder and CEO, Striver; Lisa Sorgini, GM Wealth Distribution, AMP; and Phil Anderson – the FAAA’s Policy, Advocacy & Standards.
Wraith is Member Manager at Pursue Wealth and a member of the FAAA’s Emerging Professionals Committee.
She beat Deakin University’s Ryan Pfitzner, Kirstie Suleman and Aislin Jones in second, and Michael Woods in third. Other finalists included Martin Sta Romana from RMIT and Hendra Kosasih from TAFE NSW.
Wraith said the highlight of the challenge was the opportunity to learn from experienced advisers and connect with like-minded students from across the country.
This event gave me a chance to put theory into practice and tackle real-world scenarios…
“This competition really reaffirmed how passionate I am about the financial advice profession, and how exciting the future of our industry looks,” she said.
“This event gave me a chance to put theory into practice and tackle real-world scenarios. I’m passionate about making financial advice more accessible, particularly for young people.”
After graduating from RMIT at the end of this year, Wraith plans to begin her professional year within the next 12–18 months.
“Eventually, I’d love to become a partner at a firm that shares my values – or maybe even start my own financial planning business one day, ” she said.
Neil Younger, CEO, Entireti, said the University Challenge formed part of a broader strategy to identify, nurture and advance the next generation of financial advisers.
“To improve access to quality advice and close the advice gap, the industry needs to urgently increase adviser numbers, which starts by promoting financial planning as an attractive career path and actively engaging with schools and universities,” he said.
