Midwinter software benefits advice students

Yasmine Raso

Senior Journalist, Financial Newswire

19 July 2023

Financial planning software developed by Midwinter Financial Services has supported the coursework of CQUniversity students studying financial planning, concluding its first term in use for 2023.

The agreement brokered in March this year allowed CQUniversity students studying a Bachelor of Business, Bachelor of Accounting, Bachelor of Property Studies, and other non-business courses with financial planning units, to access Midwinter’s financial advice software and training on how to use the technology.

“The Midwinter team has been really impressed with how readily CQU students engaged with the Midwinter financial advice software,” Stacey Cowan, Head of Sales at Midwinter, said.

“With the industry on the cusp of significant change following the Quality of Advice review, knowledge of advice technology is critical.

“With this partnership, students can practice and learn new financial planning skills, and familiarise themselves with real-life technology as they prepare to enter the workforce and become financial advice professionals.”

After the success experienced in the first term CQUniversity said it is working on integrating the Midwinter software further in with the financial planning units offered, with the software-centric modules to potentially become mandatory from 2024.

“Students were highly engaged with the Midwinter software,” Dr. Angelique N. McInnes, Lecturer, College of Business and Law at CQUniversity, said.

“They were able to familiarise themselves with the software quickly, and use the Cashflow Modelling, Super Modelling, Portfolio modelling and product comparison modelling tools effectively.”

A student studying a Bachelor of Accounting at the university, Lachlan Melville, said the technology allowed the cohort to experience and learn the type of software used by financial planners.

“We received good guidance from Midwinter around the use of the software throughout the term, giving us important hands-on experience as we look for job opportunities,” he said.

“Use of the technology also allows us to add another skillset to improve our resume.”