Modification History
Release |
Comments |
Release 4 |
Updated incorrect unit code in prerequisite unit list for FNSASIC503A. FNSCUS503A instead of FNSCUS506A. Qualification outcome remains unchanged. |
Release 3 |
This version released with FNS10 Financial Services Training Package 5.0. Update imported units: Identified prerequisite units in the packaging rules. Qualification outcomes remain unchanged. |
Release 2 |
This version released with FNS10 Financial Services Training Package 3.1. Advice relating to ASIC requirements removed from the qualification and reference made to the regulator and Regulatory advice held on the IBSA website |
Release 1 |
This Qualification first released with FNS10 Financial Services Training Package version 2.0. BSBOHS303B Contribute to OHS hazard identification and risk assessment has been removed as not required. Packaging rules for this qualification have been changed to 9 core units and 6 electives. Replaces FNS50610 Diploma of Financial Planning |
Description
This qualification is for financial planners who provide a range of standard financial planning services and individuals providing specialist para-planning services.
Pathways Information
Pathways into the qualification
Pathways for candidates entering this qualification include:
- Certificate IV in Financial Practice Support
Pathways from the qualification
The primary pathway from this qualification is employment as a financial para-planner providing advice to clients on financial products and services within the ASIC licensing framework for the sector.
A further learning pathway utilising qualifications such as Advanced Diploma of Financial Planning would support career progression.
Licensing/Regulatory Information
Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. You should refer to the IBSA website (www.ibsa.org.au) or the relevant regulator for specific guidance on requirements.
Entry Requirements
Not applicable.
Employability Skills Summary
The following table contains a summary of the employability skills required by industry for this qualification. The employability skills facets described here are broad industry requirements that may vary depending on qualification packaging options.
Employability Skill |
Industry/enterprise requirements for this qualification include: |
Communication |
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Teamwork |
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Problem solving |
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Initiative and enterprise |
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Planning and organising |
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Self-management |
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Learning |
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Technology |
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Packaging Rules
15 units must be achieved:
9 core units
plus 6 elective units
4 elective units must be selected from the elective units listed below.
The remaining 2 elective units may be selected from the elective units listed below, any endorsed Training Package or accredited course. Elective units may be selected from a Certificate IV, Diploma or Advanced Diploma qualification.
Note: Para-planners must select the unit marked ‘*’
Elective units must be relevant to the work outcome, local industry requirements and the qualification level.
Core units of competency:
- 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 plans and provide ongoing service
- FNSFPL506A Determine client requirements and expectations
- FNSINC401A Apply principles of professional practice to work in the financial services industry
- BSBITU402A Develop and use complex spreadsheets
Elective units of competency:
- BSBCUS501C Manage quality customer service
- BSBINM401A Implement workplace information system
- FNSIBK403A Implement an agreed insurance program for a broking client
- FNSIBK506A Monitor broking clients
- FNSIBK507A Review broking client service performance
- FNSIBK508A Implement changes to broking client's insurance program
- FNSCUS505A Determine client requirements and expectations
- FNSCUS506A Record and implement client instructions
- BSBSMB405B Monitor and manage small business operations
- BSBSUS501A Develop workplace policy and procedures for sustainability
- FNSASIC301C Establish client relationship and analyse needs
- FNSASIC302C Develop, present and negotiate client solutions
- FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts
- FNSASICU503A Provide advice in Superannuation
- FNSASICX503A Provide advice in Life Insurance
- FNSASICY503A Provide advice in Insurance Broking
- FNSFPL507A Provide financial planning advice
- FNSFPL508A Conduct complex financial planning research*
- FNSIAD501A Provide appropriate services, advice and products to clients
- FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers
- FNSCUS502A Monitor client requirements
- FNSCUS503A Review business performance
- FNSINC501A Conduct product research to support recommendations
Prerequisite Units
Code and title |
Pre-requisite units required |
FNSASICZ503A Provide advice in Financial Planning |
FNSFPL501A Comply with financial planning practice ethical and operational quidelines and regulations FNSFPL504A Implement financial plan FNSFPL505A Review financial plans and provide ongoing service |
FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts |
FNSINC501A Conduct product research to support recommendations FNSCUS505A Determine client requirements and expectations FNSCUS506A Record and implement client instructions |
FNSASICU503A Provide advice in Superannuation |
FNSINC501A Conduct product research to support recommendations FNSIAD501A Provide appropriate services, advices and products to clients FNSCUS505A Determine client requirements and expectations |
FNSASICX503A Provide advice in Life Insurance |
FNSINC501A Conduct product research to support recommendations |
FNSASICY503A Provide advice in Insurance Broking |
FNSIBK506A Monitor broking clients |