Modification History
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Release |
Comments |
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Release 1 |
This version first released with FNS Financial Services Training Package Version 5.0. |
Qualification Description
This qualification reflects the role of paraplanners who provide a comprehensive range of financial planning services across a variety of product environments, including those involving complex issues and/or requiring innovative strategies. Individuals in these roles require well-developed skills and a broad knowledge base of the financial planning sector and required regulatory frameworks. 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, legislative, regulatory or certification considerations
Work functions in the occupational areas where this qualification may be used are subject to regulatory requirements. Relevant regulatory authorities should be consulted to confirm those requirements before applying the qualification.
Entry Requirements
Nil
Packaging Rules
Total number of units = 12
9 core units plus
3 elective units , of which:
- at least 1 must be from Group A Financial planning
- up to 2 may be from the remaining elective units in Groups A and B or from any currently endorsed training package qualification or accredited course at AQF Level 5 or above, provided they do not duplicate the outcome of another unit chosen for the qualification.
Elective units must be relevant to the work environment and the qualification, maintain the overall integrity of the AQF alignment, and contribute to a valid vocational outcome.
Core units
FNSCUS516 Record and implement client instructions
FNSFPL614 Develop financial plans
FNSFPL615 Present and negotiate financial plans
FNSFPL616 Implement financial plans
FNSFPL621 Comply with ethical and operational guidelines, legislation and regulations in financial planning
FNSFPL622 Conduct financial planning analysis and research
FNSPRM611 Monitor and review organisational system compliance with legislation and regulations
FNSINC411 Conduct work according to professional practices in the financial services industry
FNSINC511 Conduct financial product research to support product recommendations
Elective units
Group A Financial planning
FNSFPL607 Prepare advice in margin lending
FNSFPL608 Prepare advice in foreign exchange
FNSFPL609 Prepare advice in managed investments
FNSFPL610 Prepare advice in superannuation
FNSFPL617 Prepare advice in derivatives
FNSFPL618 Prepare advice in securities
FNSFPL619 Prepare advice in life insurance
FNSFPL620 Prepare advice in insurance broking
Group B General financial services
Aged care
FNSSUP434 Develop and provide knowledge of aged care to superannuation clients
Insurance broking
FNSIBK413 Place client insurances with insurer and confirm insurance cover with clients
FNSIBK416 Deliver insurance broking services
FNSIBK517 Review insurance broking service performance
FNSIBK518 Implement changes to insurance programs of broking clients
FNSIBK523 Prepare submissions for new insurance broking business
FNSIBK525 Monitor insurance broking client programs
Mortgage broking
FNSFMB502 Identify and develop broking options for clients with complex needs
FNSFMK505 Comply with financial services regulation and industry codes of practice
Risk and compliance
BSBAUD514 Interpret compliance requirements
BSBAUD515 Evaluate and review compliance
BSBAUD516 Develop and monitor processes for the management of breaches in compliance requirements
BSBAUD601 Establish and manage compliance management systems
FNSRSK512 Assess risks
FNSRSK612 Determine and manage risk exposure strategies
Self-managed superannuation funds
FNSSMS511 Invest self-managed superannuation fund assets
FNSSMS512 Manage changes to memberships in self-managed superannuation funds
FNSSMS513 Manage administration activities of self-managed superannuation funds
FNSSMS514 Meet self-managed superannuation fund compliance requirements
FNSSMS515 Support trustees in selecting and monitoring performance of outsourced services
Superannuation
FNSSUP423 Provide knowledge of retirement planning issues when dealing with superannuation clients
FNSSUP432 Determine impact of social security entitlements on retirement income
General business
BSBINS402 Coordinate workplace information systems
BSBOPS505 Manage organisational customer service
BSBOPS601 Develop and implement business plans
BSBSTR501 Establish innovative work environments
BSBSUS511 Develop workplace policies and procedures for sustainability
FNSCUS511 Develop and maintain professional relationships in financial services industry
FNSCUS512 Monitor clients’ financial requirements
FNSCUS515 Determine client financial requirements and expectations
FNSFMK522 Apply financial product knowledge in the context of the deal transaction cycle
FNSFMK525 Analyse clients’ financial risk
FNSFPL611 Provide technical and professional financial planning guidance
FNSFPL612 Determine client requirements and expectations in financial planning
FNSFPL613 Monitor financial plans and provide ongoing service
FNSINC503 Identify situations requiring complex ethical decision making
FNSINC504 Apply ethical frameworks and principles to make and act upon decisions
Qualification Mapping Information
No equivalent qualification. Newly created.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c7200cc8-0566-4f04-b76f-e89fd6f102fe
