New planners need listening skills

A recent study by Deakin University has found that newly qualified financial planners are deficient in listening skills and lack the knowledge to formulate a plan for those moving towards retirement. The study, undertaken by Associate Professor Beverly Jackling and Colin Sullivar, looked at 162 registered financial firms and focused on the skills deemed essential for competent financial planners and the degree to which newly qualified planners had such skills. Professor Jackling said listening and questioning skills were highlighted as an issue for new planners. The research also showed that established planners were concerned about the superannuation and retirement planning abilities of new recently qualified planners. Professor Jackling stated, “These skills are important because they emphasis that the work of the financial planning industry has changed. Planners now focus on the investment and income needs of intending or existing retirees who are increasingly dependent on self-funded income streams in retirement.”

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