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Qualification details

FNS50615 - Diploma of Financial Planning (Release 4)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to FNS50611 - Diploma of Financial PlanningUpdated to meet Standards for Training Packages. 24/Mar/2015

Release Status:
Current
Releases:
ReleaseRelease date
4 (this release) 13/Feb/2018
(View details for release 3) 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
FNSASICY503 - Provide advice in insurance brokingProvide advice in insurance brokingElective
FNSFPL501 - Comply with financial planning practice ethical and operational guidelines and regulationsComply with financial planning practice ethical and operational guidelines and regulationsCore
FNSIBK403 - Place client insurances with insurer and confirm insurance cover with clientsPlace client insurances with insurer and confirm insurance cover with clientsElective
FNSASICU503 - Provide advice in superannuationProvide advice in superannuationElective
FNSASICX503 - Provide advice in life insuranceProvide advice in life insuranceElective
FNSIBK513 - Prepare a submission for new businessPrepare a submission for new businessElective
BSBCUS501 - Manage quality customer serviceManage quality customer serviceElective
FNSASIC301 - Establish client relationship and analyse needsEstablish client relationship and analyse needsElective
FNSFPL506 - Determine client financial requirements and expectationsDetermine client financial requirements and expectationsCore
FNSFPL505 - Review financial plans and provide ongoing serviceReview financial plans and provide ongoing serviceCore
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Classifications

SchemeCodeClassification value
ANZSCO Identifier 222311 Financial Investment Adviser 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 
Qualification/Course Level of Education Identifier 421 Diploma 
Taxonomy - Industry Sector N/A Financial Planning,Financial Services 
Taxonomy - Occupation N/A Senior Financial Planner 

Classification history

SchemeCodeClassification valueStart dateEnd date
ANZSCO Identifier 222311 Financial Investment Adviser 30/Jul/2015 
ASCED Qualification/Course Field of Education Identifier 0811 Banking, Finance And Related Fields 30/Jul/2015 
Qualification/Course Level of Education Identifier 421 Diploma 25/Mar/2015 
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Modification History

Release 

Comments 

Release 4

This version released with FNS Financial Services Training Package version 3.0

Release 4 created to update elective unit list

Release 3

This version released with FNS Financial Services Training Package version 2.0

Release 3 created to update packaging rules, add elective units and correct typographical error

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 1.1

Qualification Description

This qualification is for financial planners who provide a range of standard financial planning services and individuals providing specialist para-planning services. Individuals in these roles require well-developed skills and a broad knowledge base of the financial planning sector and the ASIC regulatory framework. Individuals in these roles have autonomy in performing technical operations, apply solutions to a range of often complex problems, and analyse and evaluate information from a variety of sources. They apply initiative to plan, coordinate and evaluate their own work and provide guidance to others.

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.

Entry Requirements

Nil.

Packaging Rules

Total number of units = 15 

9 core units  plus

6 elective  units

The elective units consist of:

  • 4 from the electives below

Of the remaining 2 units:

  • up to 2 may be from the electives
  • up to 2 may be from a Certificate IV, Diploma or Advanced Diploma in any currently endorsed training package or accredited course.

Note: Para-planners must select:

  • FNSFPL508 Conduct complex financial planning research

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

Core Units  

BSBITU402 Develop and use complex spreadsheets

FNSASICZ503* Provide advice in financial planning

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

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

FNSFPL506 Determine client financial requirements and expectations

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

Elective Units 

BSBCUS501 Manage quality customer service

BSBINM401 Implement workplace information system

BSBSMB405 Monitor and manage small business operations

BSBSUS501 Develop workplace policy and procedures for sustainability

FNSASIC301 Establish client relationship and analyse needs

FNSASIC302 Develop, present and negotiate client solutions

FNSASICQ503* Provide advice in first home saver market linked accounts

FNSASICU503* Provide advice in superannuation

FNSASICX503* Provide advice in life insurance

FNSASICY503* Provide advice in insurance broking

FNSCUS501 Develop and nurture relationships with clients, other professionals and third party referrers

FNSCUS502 Monitor client requirements

FNSCUS503 Review business performance

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSFPL507 Provide financial planning advice

FNSFPL508 Conduct complex financial planning research

FNSIAD501 Provide appropriate services, advice and products to clients

FNSIBK403 Place client insurances with insurer and confirm insurance cover with clients

FNSIBK406 Deliver professional insurance broking services

FNSIBK507 Review service performance

FNSIBK508 Implement changes to broking client's insurance program

FNSIBK513 Prepare submission for new business

FNSIBK515 Monitor broking client requirements and establish loss control programs

FNSINC501 Conduct product research to support recommendations

FNSINC503 Identify situations requiring complex ethical decision making

FNSINC504 Apply ethical frameworks and principles to make and act upon decisions

*Note the following prerequisite unit requirements:

Unit in this qualification

Prerequisite unit

FNSASICZ503 Provide advice in financial planning

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

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

FNSASICQ503 Provide advice in first home saver market linked accounts

FNSINC501 Conduct product research to support recommendations

FNSIAD501 Provide appropriate services, advice and products to clients

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSASICU503A Provide advice in superannuation

FNSINC501 Conduct product research to support recommendations

FNSIAD501 Provide appropriate services, advices and products to clients

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSASICX503 Provide advice in life insurance

FNSINC501 Conduct product research to support recommendations

FNSIAD501 Provide appropriate services, advice and products to clients

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSASICY503 Provide advice in insurance broking

FNSIBK406 Deliver professional insurance broking services

FNSIBK508 Implement changes to broking client’s insurance program

FNSIBK513 Prepare submission for new business

Qualification Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

FNS50615 Diploma of Financial Planning (Release 4)

FNS50615 Diploma of Financial Planning (Release 3)

Updates to elective unit list

Equivalent qualification

Links

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