This qualification is for individuals performing a support role to qualified financial planners and para-planners. The core units meet Tier 2 status Australian Securities and Investments Commission (ASIC) accreditation requirements for providing limited financial products advice. Conditions relating to this should be obtained from ASIC.
Packaging Rules
11 units must be achieved:
7 core units
plus4 elective units
the required elective units of competency can be selected from the elective bank below or from units aligned to other Certificate IV qualifications in the FNS10 Financial Services Training Package
One (1) elective may be selected from units aligned to Certificate III qualifications in the FNS10 Financial Services or another endorsed Training Package or accredited course
One (1) elective may be selected from units aligned to Diploma qualifications in the FNS10 Financial Services or another endorsed Training Package or accredited course.
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.
Core units of competency:
FNSASIC301C Establish client relationship and analyse needs *
FNSASIC302C Develop, present and negotiate client solutions *
FNSFPL401A Extract and analyse information on specified financial strategies and products
FNSFPL402A Prepare financial plans to set strategies and guidelines
FNSFPL403A Implement financial plans to predetermined guidelines
FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations
FNSINC401A Apply principles of professional practice to work in the financial services industry
Elective units of competency:
BSBCUS402A Address customer needs
BSBOHS303B Contribute to OHS hazard identification and risk assessment
BSBREL402A Build client relationships and business networks
BSBWOR204A Use business technology
FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts **
FNSFPL502A Conduct financial planning analysis and research
FNSFPL503A Develop and prepare financial plan
FNSFPL504A Implement financial plan
FNSFPL505A Review financial plans and provide ongoing service
FNSIAD501A Provide appropriate services, advice and products to clients **
FNSCUS505A Determine client requirements and expectations **
FNSCUS506A Record and implement client instructions **
FNSINC501A Conduct product research to support recommendations **
Note 1: Tier 2 ASIC units marked '*'
Note 2: Units marked '**' have the following four co-requisite unit requirements for ASIC Tier 1 accreditation:
FNSIAD501A Provide appropriate services, advice and products to clients
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
FNSINC501A Conduct product research to support recommendations
Qualification Pathway
The primary pathway from this qualification is employment in job roles where duties are determined by established organisational procedures and limited to a preset range of financial products and services.
This qualification may be suited to an Australian Apprenticeship pathway.
A further learning pathway utilising qualifications such as FNS50610 Diploma of Financial Planning is the appropriate qualification for achievement of Tier 1 Authorised Representative status and would support career progression.
Not applicable.
Not applicable.
QUALIFICATION SUMMARY | |
Employability Skill | Industry/enterprise requirements for this qualification include: |
Communication | accessing professional networks developing and writing reports to specifications negotiating solutions with clients preparing and presenting routine and complex correspondence in appropriate electronic formats questioning, listening and clarifying client's requirements using effective telephone techniques and having the ability to negotiate resolutions with clients and colleagues |
Teamwork | coordinating professional development activities and seeking peer reviews developing a rapport with clients when identifying their needs, objectives and financial situation receiving feedback on performance referring matters to a nominated person as required seeking feedback on research findings |
Problem solving | applying estimating, forecasting and analysis skills checking the accuracy of calculations collecting, comparing and contrasting data in order to create reports conducting trend and risk analyses including product modelling determining security protocols identifying and resolving inconsistencies in data identifying OHS hazards and risk control testing strategic assumptions |
Initiative and enterprise | applying referral skills applying the learning of ergonomics to develop improved processes continually reviewing and applying emerging industry trends to product and service knowledge developing administrative processes to implement financial plans researching alternative options for clients' needs |
Planning and organising | developing and maintaining systems, records and reporting procedures implementing financial plans according to a time schedule and agreed priorities processing workplace documentation and maintaining files; managing information; scheduling and coordinating competing tasks undertaking research and developing solutions such as financial plans |
Self-management | acting as a role model for others planning own work schedule and monitoring and evaluating own work performance taking to management, concerns with own level of responsibility understanding own work role and working within it working ethically and complying with all industry codes of practice and legislative requirements |
Learning | applying learning to develop improved practices developing and maintaining professional competency following workplace safety procedures identifying opportunities for professional development seeking expert advice as required using online help for self-learning purposes |
Technology | conducting web searches and using corporate templates operating computers and using word processing, spreadsheet and database skills to produce workplace documentation using business technology to access, organise and monitor information using research data devices and telecommunication devices and equipment |