Modification History
Release |
Comments |
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
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 3) |
FNS60415 Advanced Diploma of Financial Planning (Release 2) |
Updated typographical error Removed clause in packaging rules around the selection of elective ASIC units to allow greater flexibility |
Equivalent qualification |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe