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Qualification details

FNS60415 - Advanced Diploma of Financial Planning (Release 4)

Summary

Usage recommendation:
Deleted
The Deleted usage recommendation was implemented on 13 June 2017 to describe training components that have no replacement. Enrolments in training components and statements of attainment or qualifications issued before 13 June 2017 are valid. For any components marked as deleted after 13 June 2017, the applicable transition/teach-out periods apply. For specific questions regarding the enrolment, delivery or issuance of a statement of attainment/qualification, please contact your training regulator.
Mapping:
MappingNotesDate
DeletedDeleted from FNS Financial Services Training Package03/Nov/2020
Supersedes and is equivalent to FNS60410 - Advanced Diploma of Financial PlanningUpdated to meet Standards for Training Packages. Prerequisite units updated.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
FNSASICV503 - Provide advice in derivativesProvide advice in derivativesElective
FNSPRM603 - Grow the practiceGrow the practiceElective
FNSFPL601 - Provide technical and professional guidanceProvide technical and professional guidanceCore
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
FNSASICR503 - Provide advice in margin lendingProvide advice in margin lendingElective
FNSASICX503 - Provide advice in life insuranceProvide advice in life insuranceElective
FNSPRM601 - Establish, supervise and monitor practice systems to conform with legislation and regulationsEstablish, supervise and monitor practice systems to conform with legislation and regulationsCore
FNSFPL602 - Determine client requirements and expectations for clients with complex needsDetermine client requirements and expectations for clients with complex needsCore
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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 411 Advanced Diploma 
Taxonomy - Industry Sector N/A Financial Planning,Broking 
Taxonomy - Occupation N/A Senior Financial Planner,Financial Market Advisor,Financial Planning Manager 

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 411 Advanced 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

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 comprehensive range of financial planning services across a variety of product environments, including those involving complex issues and/or innovative strategies. Individuals in these roles require well-developed skills and a broad knowledge base of the financial planning sector and the ASIC regulatory framework. At this level individuals are expected to apply specialist skills and knowledge in a range of situations to deal with complex situations and issues. They work across a broad range of technical or management functions with accountability for personal outputs and for team outcomes.

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

The entry requirement for this qualification is completion of the following units of competency, from the core of the Diploma in Financial Planning or their equivalent from a previous version of the FNS Training Package. These are:

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

The entry requirement can be met by evidence of equivalent competency to the above units through recognition of prior learning (RPL).

Packaging Rules

Total number of units = 11 

8 core units  plus

3 elective  units

The elective units consist of:

  • 3 from the electives below
  • up to 3 may be from an Advanced Diploma in any currently endorsed training package or accredited course.

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

Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS Financial Services or BSB Business Services Training Packages.

Core Units  

FNSFPL508 Conduct complex financial planning research

FNSFPL601 Provide technical and professional guidance

FNSFPL602 Determine client requirements and expectations for clients with complex needs

FNSFPL603 Provide comprehensive monitoring and ongoing service

FNSFPL604 Develop complex and innovative financial planning strategies

FNSFPL605 Present and negotiate complex and innovative financial plans

FNSFPL606 Implement complex and innovative financial plan

FNSPRM601 Establish, supervise and monitor practice systems to conform with legislation and regulations

Elective Units 

BSBINM601 Manage knowledge and information

BSBINN502 Build and sustain an innovative work environment

BSBMGT605 Provide leadership across the organisation

BSBMGT617 Develop and implement a business plan

BSBSMB405 Monitor and manage small business operations

BSBSUS501 Develop workplace policy and procedures for sustainability

FNSASICQ503* Provide advice in first home saver market linked accounts

FNSASICR503* Provide advice in margin lending

FNSASICS503* Provide advice in foreign exchange

FNSASICT503* Provide advice in managed investments

FNSASICU503* Provide advice in superannuation

FNSASICV503* Provide advice in derivatives

FNSASICW503* Provide advice in securities

FNSASICX503* Provide advice in life insurance

FNSASICY503* Provide advice in insurance broking

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

FNSIAD501 Provide appropriate services, advice and products to clients

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

FNSIBK515 Monitor broking client requirements and establish loss control programs

FNSIBK507 Review service performance

FNSIBK508 Implement changes to broking client’s insurance program

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

FNSPRM602 Improve the practice

FNSPRM603 Grow the practice

*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

FNSASICR503 Provide advice in margin lending

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

FNSASICS503 Provide advice in foreign exchange

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

FNSASICT503 Provide advice in managed investments

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

FNSASICU503 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

FNSASICV503 Provide advice in derivatives

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

FNSCUS505 Determine client requirements and expectations

FNSCUS506 Record and implement client instructions

FNSASICW503 Provide advice in securities

FNSFMK502 Analyse financial market products for client

FNSFMK503 Advise clients on financial risk

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 

FNS60415 Advanced Diploma of Financial Planning (Release 4)

FNS60415 Advanced 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