Advanced Diploma of Financial Planning

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:

add topic FNSFPL508A Conduct complex financial planning research

add topic FNSFPL601A Provide technical and professional guidance

add topic FNSFPL602A Determine client requirements and expectations for clients with complex needs

add topic FNSFPL603A Provide comprehensive monitoring and ongoing service

add topic FNSFPL604A Develop complex and innovative financial planning strategies

add topic FNSFPL605A Present and negotiate complex and innovative financial plans

add topic FNSFPL606A Implement complex and innovative financial plan

add topic FNSPRM601A Establish, supervise and monitor practice systems to conform with legislation and regulations

Elective units of competency:

add topic BSBINM601A Manage knowledge and information

add topic BSBINN502A Build and sustain an innovative work environment

add topic BSBMGT605B Provide leadership across the organisation

add topic BSBMGT617A Develop and implement a business plan

add topic BSBSMB405A Monitor and manage small business operations

add topic BSBSUS501A Develop workplace policy and procedures for sustainability

add topic FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts

add topic FNSASICR503A Provide advice in Margin Lending

add topic FNSASICS503A Provide advice in Foreign Exchange**

add topic FNSASICT503A Provide advice in Managed Investments**

add topic FNSASICU503A Provide advice in Superannuation

add topic FNSASICV503A Provide advice in Derivatives*

add topic FNSASICW503A Provide advice in Securities*

add topic FNSASICX503A Provide advice in Life Insurance

add topic FNSASICY503A Provide advice in Insurance Broking

add topic FNSFMK502A Analyse financial market products for client

add topic FNSFMK503A Advise clients on financial risk

add topic FNSIAD501A Provide appropriate services, advice and products to clients

add topic FNSCUS505A Determine client requirements and expectations

add topic FNSCUS506A Record and implement client instructions

add topic FNSINC501A Conduct product research to support recommendations

add topic FNSPRM602A Improve the practice

add topic FNSPRM603A Grow the practice

Note: Units marked '*' have the following 4 co-requisite unit requirements for ASIC Tier 1 accreditation:

add topic FNSFMK502A Analyse financial market products for client

add topic FNSFMK503A Advise clients on financial risk

add topic FNSCUS505A Determine client requirements and expectations

add topic FNSCUS506A Record and implement client instructions

Units marked '**' have the following 4 co-requisite unit requirements for ASIC Tier 1 accreditation:

add topic FNSIAD501A Provide appropriate services, advice and products to clients

add topic FNSCUS505A Determine client requirements and expectations

add topic FNSCUS506A Record and implement client instructions

add topic 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

    FNSASICZ503A Provide advice in Financial Planning

    FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations

    FNSFPL502A Conduct financial planning analysis and research

    FNSFPL503A Develop and prepare financial plan

    FNSFPL504A Implement financial plan

    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