This qualification is for financial planners who provide a comprehensive range of financial planning services across a variety of product environments, including those involving complex issues and/or innovative strategies. The work is subject to Australian Securities and Investments Commission (ASIC) regulation and licensing.
Subjects
Packaging Rules
11 units must be achieved:
8 core units
plus3 elective units
the required elective units of competency may be selected from the elective bank or units aligned to Advanced 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:
FNSFPL508A Conduct complex financial planning research
FNSFPL601A Provide technical and professional guidance
FNSFPL602A Determine client requirements and expectations for clients with complex needs
FNSFPL603A Provide comprehensive monitoring and ongoing service
FNSFPL604A Develop complex and innovative financial planning strategies
FNSFPL605A Present and negotiate complex and innovative financial plans
FNSFPL606A Implement complex and innovative financial plan
FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
Units marked '**' have the following 4 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
NOTE Certain elective units may be required to progress to membership of relevant professional organisations. Learners should establish such requirements where they apply in order to make appropriate choices.
Pathways...
Qualification Pathway
Entry requirements
The entry requirement for this qualification is completion of the following units of competency:
BSBOHS303B Contribute to OHS hazard identification and risk assessment
FNSFPL505A Review financial plan and provide ongoing service
The entry requirement can be met by evidence of equivalent competency to the above units through recognition of prior learning (RPL).
Pathways
Preferred pathways for candidates entering this qualification include:
FNS50610 Diploma of Financial Planning
The primary pathway from this qualification is employment as a financial planner providing advice to clients on financial products and services within the ASIC licensing framework for the sector.
A further learning pathway could be study in relevant higher education programs. Learners should establish relevant qualifications and any credit arrangements that may apply in order to make appropriate elective choices in this qualification
Entry Requirements
Not applicable.
Licensing Information
Not applicable.
Employability Skills
QUALIFICATION SUMMARY
Employability Skill
Industry/enterprise requirements for this qualification include:
Communication
developing a rapport with clients and communicating ideas and information cognisant of clients' social and cultural diversity and special needs
documenting clients' complex or special needs to protect interests of client and financial planner
fostering business relationships and providing a high level of customer service and relationship management
negotiating to resolve financial planning issues
possessing excellent presentation skills with an ability to 'read' verbal and non-verbal body language
presenting complex information to the client in plain language
questioning, clarifying and evaluating information
researching and consulting with a wide range of users internal and external to the organisation
using a range of techniques to elicit feedback from customers
Teamwork
coaching and mentoring staff on new skills
coordinating the implementation of financial plans with other professionals
delegating and briefing various personnel on their roles and responsibilities regarding the implementation of clients' financial plans
demonstrating leadership in evaluating policies and procedures
producing a positive and productive workplace that encourages maximum participation
Problem solving
applying estimating, forecasting and analysis skills
calculating fees and charges
collecting and analysing data
comparing and contrasting data
solving discrepancies
testing and assessing the integrity of information
using analytical, evaluative and deductive reasoning skills
Initiative and enterprise
assessing the impact of trends on product performance
developing an innovative financial strategy aligned to a client's needs and risk tolerance
identifying new and emerging opportunities and developing strategies to capitalise on them
monitoring the external environment and identifying emerging practices and trends
Planning and organising
coordinating people, resources and/or equipment to achieve optimum results
developing action plans against financial plans to meet timelines and priorities
establishing and maintaining documentation and records
undertaking complex research and developing complex solutions
Self-management
acting as a role model for others
managing own time and priorities and dealing with contingencies
taking responsibility as required by work role and ensuring all organisational policies and procedures are followed
working ethically and complying with all industry codes of practice and legislative requirements
Learning
adapting to change in technology and/or work practices
contributing to the learning of others by providing coaching, conducting team meetings and supplying information
developing and maintaining personal competency
identifying opportunities for professional development
maintaining currency of knowledge of financial products and services
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