Getting a Diploma in Financial Planning for a Career Change This Pandemic

With thousands of people out of work because of the pandemic, many are becoming interested in getting a diploma in financial planning in Australia. 

Financial planners or financial advisors provide professional financial advice to people or businesses on how to better manage their finances. After all, professional financial planners in Australia make around 100-120k annual pay. 

As many families and businesses are struggling financially, the entire world economy has been shaken in so many ways. This has led to the dramatic increase in interest among the population on how to become a professional financial planner. 

Becoming a financial planner is not only an ideal career at this high time of uncertainties, but is also a very attractive and useful career in the years to come. Hence, the peak in interest in this career over the past months is very understandable. 

Career Path 

In Australia, the financial planning career is regulated by the Australian Securities and Investments Commission (ASIC). As such, the path to becoming a professional financial advisor is highly regulated by strict standards. 

Getting a degree

Since January 1, 2019, a new resolution has been issued requiring all financial advisors to complete a bachelor’s degree or higher studies (same equivalent) to become a financial advisor. 

Through Training

After completing a degree, the aspiring financial planner needs to work with a company that holds an Australian Financial Services License (AFSL) from ASIC. 

By getting certified

Another alternative path to become a professional financial advisor is to be certified by the Financial Planning Association of Australia (FPAA)--a duly recognised organisation of professional advisors in Australia.   

Getting a diploma

If you have finished a degree that’s totally unrelated to financial planning or finance-related programs, you have the option to enroll in a diploma for financial planning courses. 

There are several Australian universities that offer such programs either in-campus or online. The program duration usually runs for a year, which can be taken full-time or based on your own pace. 

After completing this program and finally getting your diploma, you can start working with ASIC-certified firms as a trainee and make your way up the rank and become a fully-certified and professional financial planner. 

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Darin Hindmarsh is the founder and CEO of Intellichoice Finance, a broking firm based in Brisbane. He's been providing financial and broking services in the past 18 years. Hindmarsh is also finalist in the 2020 Australian Mortgage Awards - Pepper Money Broker of the Year – Specialist Lending. To jumpstart your home loan application, visit their home loan online application page today!

A Beginner’s Guide To Personal Loans

Personal loans are specifically designed to finance personal expenses.  It is popular among people looking at loan products to consolidate their debts. It can be used to finance different personal needs such as purchasing a car or cash to cover medical or educational expenses, among others.

Common types of personal loans include Car loans and Lifestyle loans.  Personal loans can be secured—requires the need of collateral to secure the loan—or and Unsecured—does not require a collateral, which can include real estate property (house and lot or land) or vehicles (cars/tractors/equipment).  

Why should you get personal loans?

The application process is easy, and some lenders can render same-day approval. It is a good way to get cash for various personal expenses-including consolidating his multiple credit card debts and his personal loan--and just one pay one loan instead.

One can also use personal loans to finance his personal expenses such as health, education, and even travel expenses, among others.

Other purposes of personal loans

Personal loans are a good option if you intend to consolidate multiple debts into one—for convenience purposes.  A source of cash to finance other personal expenses.

Who should get personal loans?

Only those who are in dire needs of cash for personal expenses that need immediate funding should get a personal loan. It’s easy to fall into a debt trap with personal loans.

Since many people fall into a debt trap with personal loans, only those with a stable and continuous source of income should get this loan or any other loan type for that matter.

Anyone looking at consolidating their debts into one loan

Personal loan process

Eligible applicants can directly go to lenders, but this gives him few options in terms of interest rates. Lenders differ on their requirements and interest rates, so it’s preferable to check with a specific lender that specialises in personal loans for better results.

That’s where Intellichoice Finance comes in, we specialize in personal loans and we have lenders that have been dealing with clients with successful personal loans applications in the past 18 years.  

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Darin Hindmarsh is the founder and CEO of Intellichoice Finance, a Brisbane-based mortgage broking company that was established 18 years ago. He was shortlisted as a finalist in the 2020 Australian Mortgage Awards - Pepper Money Broker of the Year – Specialist Lending. If you want to jump start your home loan application, please our online home loan application page today! 

Things To Consider Before Getting A Home Loan

Getting a home loan is already an overwhelming endeavor for most people. But considering the current economic situation, this has become a more intimidating process for many.

With the current economic condition, getting a home loan has become more challenging and as such, requires more research and effort from home buyers to avoid unnecessary stress.

Since home loans long term commitment, it requires a thorough effort from planning stage to moving in stage. Each phase of the process is emotionally taxing.

What are home loans?

Home loans are types of loans that are specifically designed for individuals who are looking at getting their own house or property. In Australia, it is by far the most popular way towards home ownership.

Since getting home loans is generally a long-term commitment that is primarily taken out by individuals primarily towards owning a house, choosing which home loan type that fits your need is important.

Home loan repayments can take up to 30 years, in most cases, so it requires a lot of considerations before you should jump in.

Technical aspects

In order to avoid paying the lenders' mortgage insurance (LMI), try to set aside at least 20% deposit for the loan. The higher the deposit is, the lower your loan will be. Although you will not benefit from the LMI, which is a one-time fee, it will, however, protect the lender should you fail to pay for the loan. 

Depending on your needs, there are specific types of loans just for that.

Whether you’re a first-time home buyer or a seasoned investor or a senior looking at cash to finance your daily expenses, there’s a specific loan type for you.

Knowing the perfect loan type based on your personal circumstance is a key to a seamless and worry-free experience.

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Darin Hindmarsh is the founder and CEO of Intellichoice Finance, a Brisbane-based mortgage broking company that was established 18 years ago. He was shortlisted as a finalist in the 2020 Australian Mortgage Awards - Pepper Money Broker of the Year – Specialist Lending.