Modification History
Release |
Comments |
Release 4 |
This version released with FNS10 Financial Services Training Package version 5.0 Update imported units: BSBSMB405A to BSBSMB405B Identified prerequisite units in the packaging rules. Added pre-requisites FNSIBK403A; FNSIBK506A; FNSIBK507A; FNSIBK508A to the elective pool Advice relating to ASIC requirements removed from the qualification and reference made to the regulator and Regulatory advice held on the IBSA website. Qualification outcomes remain unchanged. |
Release 3 |
This version released with FNS10 Financial Services Training Package version 3.1 Correction of a typing error in the amended entry requirements. |
Release 2 |
This version released with FNS10 Financial Services Training Package version 3.0.Entry requirements reworded to clarify the intended requirement and remove artificial barriers. |
Release 1 |
This Qualification first released with FNS10 Financial Services Training Package version 1.0. |
Description
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.
Pathways Information
Pathways into the qualification
Preferred pathways for candidates entering this qualification include:
- Diploma of Financial Planning
Pathways from the qualification
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.
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
The entry requirement for this qualification is completion of the Financial Services units from the core of the Diploma in Financial Planning in the Financial Services Training Package FNS10.
or
Completion of the sectoral core units and the regulatory unit FNSASIC503ZB Provide advice in Financial Planning from the Diploma in Financial Planning in the Financial Services Training Package FNS04.
The entry requirement can be met by evidence of equivalent competency to the above units through recognition of prior learning (RPL).
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
11 units must be achieved:
8 core units
plus 3 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
Elective units of competency:
- BSBINM601A Manage knowledge and information
- BSBINN502A Build and sustain an innovative work environment
- BSBMGT605B Provide leadership across the organisation
- BSBMGT617A Develop and implement a business plan
- BSBSMB405B Monitor and manage small business operations
- BSBSUS501A Develop workplace policy and procedures for sustainability
- FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts
- FNSASICR503A Provide advice in Margin Lending
- FNSASICS503A Provide advice in Foreign Exchange
- FNSASICT503A Provide advice in Managed Investments
- FNSASICU503A Provide advice in Superannuation
- FNSASICV503A Provide advice in Derivatives
- FNSASICW503A Provide advice in Securities
- FNSASICX503A Provide advice in Life Insurance
- FNSASICY503A Provide advice in Insurance Broking
- FNSCUS505A Determine client requirements and expectations
- FNSCUS506A Record and implement client instructions
- FNSFMK502A Analyse financial market products for client
- FNSFMK503A Advise clients on financial risk
- FNSIAD501A Provide appropriate services, advice and products to clients
- 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
- FNSINC501A Conduct product research to support recommendations
- FNSPRM602A Improve the practice
- FNSPRM603A Grow the practice
Prerequisite Units
11 units must be achieved:
8 core units
plus 3 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
Elective units of competency:
- BSBINM601A Manage knowledge and information
- BSBINN502A Build and sustain an innovative work environment
- BSBMGT605B Provide leadership across the organisation
- BSBMGT617A Develop and implement a business plan
- BSBSMB405B Monitor and manage small business operations
- BSBSUS501A Develop workplace policy and procedures for sustainability
- FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts
- FNSASICR503A Provide advice in Margin Lending
- FNSASICS503A Provide advice in Foreign Exchange
- FNSASICT503A Provide advice in Managed Investments
- FNSASICU503A Provide advice in Superannuation
- FNSASICV503A Provide advice in Derivatives
- FNSASICW503A Provide advice in Securities
- FNSASICX503A Provide advice in Life Insurance
- FNSASICY503A Provide advice in Insurance Broking
- FNSCUS505A Determine client requirements and expectations
- FNSCUS506A Record and implement client instructions
- FNSFMK502A Analyse financial market products for client
- FNSFMK503A Advise clients on financial risk
- FNSIAD501A Provide appropriate services, advice and products to clients
- 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
- FNSINC501A Conduct product research to support recommendations
- FNSPRM602A Improve the practice
- FNSPRM603A Grow the practice