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Qualification details

FNS40715 - Certificate IV in Financial Practice Support (Release 3)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS40710 - Certificate IV in Financial Practice SupportUpdated to meet Standards for Training Packages. 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
3 (this release) 14/Jan/2016
(View details for release 2) 22/Apr/2015
(View details for release 1) 25/Mar/2015


Units of competency

CodeSort Table listing Units of Competency by the Code columnTitleSort Table listing Units of Competency by the Title columnEssentialSort Table listing Units of Competency by the Essential column
FNSFPL501 - Comply with financial planning practice ethical and operational guidelines and regulationsComply with financial planning practice ethical and operational guidelines and regulationsCore
FNSASIC301 - Establish client relationship and analyse needsEstablish client relationship and analyse needsCore
FNSFPL505 - Review financial plans and provide ongoing serviceReview financial plans and provide ongoing serviceElective
BSBREL402 - Build client relationships and business networksBuild client relationships and business networksElective
FNSCUS505 - Determine client requirements and expectationsDetermine client requirements and expectationsElective
FNSFPL402 - Prepare financial plans to set strategies and guidelinesPrepare financial plans to set strategies and guidelinesCore
BSBCUS402 - Address customer needsAddress customer needsElective
FNSFPL403 - Implement financial plans to predetermined guidelinesImplement financial plans to predetermined guidelinesCore
FNSIAD501 - Provide appropriate services, advice and products to clientsProvide appropriate services, advice and products to clientsElective
FNSASICQ503 - Provide advice in first home saver market linked accountsProvide advice in first home saver market linked accountsElective
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 551211 Bookkeeper 
ASCED Qualification/Course Field of Education Identifier 0801 Accounting 
Qualification/Course Level of Education Identifier 511 Certificate IV 
Taxonomy - Industry Sector N/A Financial Planning,Financial Services 
Taxonomy - Occupation N/A Financial Planning Officer 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 551211 Bookkeeper 30/Jul/2015 
ASCED Qualification/Course Field of Education Identifier 0801 Accounting 30/Jul/2015 
Qualification/Course Level of Education Identifier 511 Certificate IV 25/Mar/2015 
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Modification History

Release 

Comments 

Release 2

This version released with FNS Financial Services Training Package version 1.1

Release 2 created to correct typographical error

Release 1

This qualification first released with FNS Financial Services Training Package version 1.0

Qualification Description

This qualification is for individuals performing a support role to qualified financial planners and para-planners. Individuals in these roles apply specialist knowledge and skills to work autonomously and exercise judgement in completing routine and non-routine support activities relating to a pre-set range of financial products and services.

Licensing/Regulatory Information

Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements. The core units meet Tier 2 status Australian Securities and Investments Commission (ASIC) accreditation requirements for providing limited financial products advice.

Entry Requirements

Nil.

Packaging Rules

Total number of units = 11 

7 core units  plus

4 elective  units

The elective units consist of:

  • up to 4 from the electives below
  • up to 4 from a Certificate IV qualification in the Financial Services Training Package
  • 1 may be selected from a Certificate III qualification in any endorsed training package or accredited course
  • 1 may be selected from a Diploma qualification in any endorsed training package or accredited course.

The elective units chosen must be relevant to the work outcome and meet local industry needs.

Core Units  

FNSASIC301 Establish client relationship and analyse needs

FNSASIC302 Develop, present and negotiate client solutions

FNSFPL401 Extract and analyse information on specified financial strategies and products

FNSFPL402 Prepare financial plans to set strategies and guidelines

FNSFPL403 Implement financial plans to predetermined guidelines

FNSFPL501 Comply with financial planning practice ethical and operational guidelines and regulations

FNSINC401 Apply principles of professional practice to work in the financial services industry

Elective Units 

BSBCUS402 Address customer needs

BSBREL402 Build client relationships and business networks

BSBWHS303 Participate in WHS hazard identification, risk assessment and risk control

BSBWOR204 Use business technology

FNSASICQ503* Provide advice in first home saver market linked accounts

FNSFPL502 Conduct financial planning analysis and research

FNSFPL503 Develop and prepare financial plan

FNSFPL504 Implement financial plan

FNSFPL505 Review financial plans and provide ongoing service

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSIAD501 Provide appropriate services, advice and products to clients

FNSINC501 Conduct product research to support recommendations

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS40715 Certificate IV in Financial Practice Support

FNS40710 Certificate IV in Financial Practice Support

Updated to meet Standards for Training Packages.

Equivalent qualification

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe