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Tuesday 24 Jan 2017

EO's report - January 2017

By: Peter Gartlan

The phrase of the week must belong to the White House senior advisor who used the expression ’alternative facts’ to describe the raging debate on numbers at Donald Trump’s inauguration.

Here are some stats about the financial counselling sector:

In 2010, FCRC had 150 members that were employed as financial counsellors. Of the 150 FCs in 2010, 75 are still employed in 2017 – the other half have either left the sector, retired, or sadly, died.

Today we have 220 FCs that are members of FCRC.

This means that there has been an increase in financial counsellors during this time as well as a large number that have joined the sector. That is a seismic shift in personnel in a short period.

What these facts tells us is that we must continue our focus on workforce planning. Otherwise we leave it to dumb luck. FCRC Board, through its strategic plan, makes it clear that part of FCRC’s role is to ensure that we plan for our workforce needs into the future.

That is why since 2010, we have focused time and money ensuring access to quality diploma training. In 2010, no training body delivered the diploma in Victoria. Thanks to a group of committed FCs and FCRC’s training manager, the diploma was introduced. Many people have engaged in and completed this qualification with over 70 graduates in current employment.

Our focus on the delivery of the diploma will continue in 2017 and we will soon be making an exciting announcement of a new diploma training opportunity in Victoria. A quality diploma means that students are job ready which is what agency managers want, gives comfort to funding bodies, and meets the ever-growing complexity of client needs.