The financial planning profession has undergone significant change in recent years, where the focus has shifted from disclosure and consumer protection, to quality and education requirements. In Australia, there has been an increasing focus on the role that work-integrated learning (WIL) can play in financial planning education and preparing graduates for their professional year and subsequent registration as a financial planner. Emphasizing the centrality of student wellbeing, this paper identifies key considerations for, and potential alternatives to, incorporating extended work placements as a mandated WIL activity in financial planning education. It raises concerns regarding the potential for participation to negatively impact student wellbeing, identifies the equity challenges associated with placements, and discusses the need to ensure workplaces and students are adequately prepared for the placement. Finally, service learning is proposed as a practical alternative as it overcomes many of the disadvantages of traditional placements.