TAL’s Professional Year initiatives support financial advice industry
TAL’s Professional Year initiatives support financial advice industry | Insurance Business Australia
Insurance News
TAL’s Professional Year initiatives support financial advice industry
Insurer aims to encourage new industry entrants
Insurance News
By
Jonalyn Cueto
In a news release, Life insurer TAL has detailed its continued support for the growth of the financial advice industry through several Professional Year (PY) initiatives. These PY efforts are focused on smoothing the path for people seeking a career in the industry. The insurer’s support, said the release, sits across three pillars – PY Manager, structured training through the TAL Risk Academy, and PY Community.
Supporting financial advising aspirants
PY Manager was launched in November 2022. It provides a comprehensive solution for candidates, supervisors, and licensees in managing requirements of the PY to allow users to spend more time on career development and less on administration requirements.
Beau Riley (pictured above), general manager for retail sales and new business at TAL said the insurer is committed to providing the right education and support needed for new people considering entering the industry. He said they are partnering with licensees and advisers to help grow a “thriving, professional financial advice sector.”
“TAL is committed to growing the advice profession by providing the right education and support required to meet dynamic professional standards and regulatory requirements,” said Riley. “Ultimately, this will mean more Australians will have access to the high-quality financial advice they want and need.”
He said supporting candidates to meet their structured training requirements with assessments, and licensees with the PY criteria, is one of the ways his firm shows its dedication to advisers’ ongoing professional development.
“It is incredibly rewarding to see candidates from over 100 AFSL’s using the PY Manager platform to complete their Professional Year,” said Riley.
The release said TAL’s PY support continues with PY Community, hosting monthly events with industry experts and leading advisers, and structured CPD training through the TAL Risk Academy hosted by TAL’s technical team and industry guest presenters.
This year, about 1,100 TAL Risk Academy course enrolments have been recorded. The number has grown by 168% in the past two years. The program includes all PY structured training requirements and an assessment. TAL’s Financial Exam Masterclass continues to be the most popular on-demand course, the news release said.
“TAL continues to impress with the range of knowledge being provided in these sessions,” said Nathan Morgan, PY candidate at HPH Solutions. “It shows that TAL has their finger on the PY pulse.”
“TAL Risk Academy is designed to serve as a cornerstone in fulfilling ongoing adviser education needs and CPD hour requirements. We have collaborated with industry experts to deliver a comprehensive program that can be responsive to the evolving needs of the professional advice industry, including our tailored PY program,” said Riley.
Further, this year, TAL Risk Academy has donated course fees to charity partner Australian Business and Community Network (ABCN), a purpose-led, not-for-profit that connects businesses and schools to address educational disadvantage. For the last nine years, the academy has donated over $830,000 to ABCN to support the education of young Australians.
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