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FNS50615
Diploma of

Financial Planning

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Summary

Financial planning is a highly regulated industry where basic certification and training must be met. A job role as a financial planner can set you on the path to a stable and fulfilling career, with options to open your own business, or work for a major Australian or international brand. To practise and provide advice to the public, a nationally recognised diploma is a necessity. Get the skills and qualifications you need to thrive in a career in finance.
 


This course is not taking new enrolments at this time. If you would like to be contacted about other course options that Upskilled delivers, please complete the "Register my interest" form.

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qualifications
This is a Nationally Recognised and VET Accredited course that sits within the Australian Qualifications Framework (AQF).
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Detail

Duration
12 months
Units
15 units
This comprehensive diploma will allow you to pursue a career in financial planning. Some of the skills a financial planner needs in a contemporary setting might be problem solving, analysis, evaluation and strict adherence to ASIC regulations. Learn how to develop and prepare financial plans and apply professional practices to work in the diverse and fast-paced financial services industry.
 
Course structure

The standard course is conducted over a 12 month period; within a self-paced online learning environment. 

Upskilled will gather information about your previous experience and skills, weekly study commitment and online learning experience to provide you with an projected duration for your course based on your individual circumstance. 

Upskilled uses MyUpskilled to manage the delivery and assessment of your course. This means you can learn at your own pace.

Inclusions
Upskilled courses include specialised learning materials, and access to:
  • Upskilled’s fully customised online learning platform, MyUpskilled
  • Student Support services
  • your trainer via the trainer/student messaging system
  • webinars; both live and recorded sessions
  • video content access via:
Recognition of Prior Learning / Credit Transfer
Work experience or formal qualifications you have may count towards your course. If you have previously undertaken study at a recognised institution or have some relevant work experience, you might gain credit towards specific units in a course; shortening the time you have to study. You can send your application for Credit Transfer or RPL during the enrolment process.
Assessment
Upskilled takes evidence gathered from a variety of sources to deem a student as competent. Assessment processes might include some or all of the following:
  • Recognition of Prior Learning and/or credit transfer
  • summative and formative assignments
  • written reports and/or portfolio assessments
  • scenarios and/or case studies
  • projects
  • written/oral questions
  • regular training and assessment contact will be maintained by Upskilled in conjunction with the participant and their employer (where applicable). Critical dates during the program will be identified for participants to ensure compliance to assessment due dates, and attendance at monthly webinars as required.

Subjects

This qualification consists of the following units of competency. All units of competency must be successfully completed to attain the qualification. 
BSBITU402
Develop and use complex spreadsheets

This unit describes the skills and knowledge required to use spreadsheet software to complete business tasks and produce complex documents. It applies to individuals employed in a range of work environments who require skills in creation of complex spreadsheets to store and retrieve data. They may work as individuals providing administrative support within an enterprise, or may be independently responsible for designing and working with spreadsheets relevant to their own work roles

FNSASICZ503
Provide advice in financial planning

This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally in financial planning, in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level. It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform a specialist advisory role in financial planning.

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

This unit describes the skills and knowledge required to comply with ethical and operational guidelines in one’s own work. It applies to individuals who use specialised knowledge to carefully review and check detailed information in their own work to ensure quality standards are maintained.

FNSFPL502
Conduct financial planning analysis and research

This unit describes the skills and knowledge required to undertake financial planning analysis and research. It encompasses evaluating a client’s current situation, identifying issues and researching requirements and parameters for extracting and analysing information, and summarising research information. It applies to individuals who, within their level of authority, apply specialised knowledge, systematic approaches and analytical techniques to research and prepare information customised for clients and/or situations.

FNSFPL503
Develop and prepare financial plan

This unit describes the skills and knowledge required to develop and prepare a financial plan that meets the client’s needs. It encompasses establishing plan objectives and scope, and developing strategic assumptions, strategies and a preliminary financial plan compliant with regulatory and organisational requirements. It applies to individuals who, within their level of authority, manage relationships, apply systematic approaches and use specialised knowledge to recommend customised solutions for a diverse range of clients.

FNSFPL504
Implement financial plan

This unit describes the skills and knowledge required to prepare and provide financial planning advice, which may include products, services and strategies. It encompasses establishing the actions, timings and priorities needed to implement and monitor or supervise the implementation of financial plan actions. It applies to individuals who work within a team environment using specialised knowledge, systematic processes and managerial techniques to complete required work.

FNSFPL505
Review financial plans and provide ongoing service

This unit describes the skills and knowledge required to monitor the implementation and progress of financial plans and establish ongoing client service arrangements. It encompasses discussing and confirming arrangements and procedures for ongoing service with clients, establishing procedures for providing ongoing service, and undertaking or supervising review of a financial plan. It applies to individuals, working within a team, who use specialised knowledge and managerial techniques to monitor and complete their own work and/or the work of others and to build relationships and rapport with others.

FNSFPL506
Determine client financial requirements and expectations

This unit describes the skills and knowledge required to determine the financial requirements and expectations of clients. It encompasses informing clients of the financial planning process and service, obtaining relevant information on their existing financial situations and expectations with respect to the financial planning service offered by the representative, and preparing and updating necessary documentation. It applies to individuals who manage relationships with clients and colleagues and use specialised knowledge and systematic approaches to determine a customised service.

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

This unit describes the skills and knowledge required to identify industry professional approaches to procedures, guidelines, policies and standards, including ethical requirements, and to model and meet expectations of these in all aspects of work. It applies to individuals who work in senior roles in the financial services industry and underpins other specialist units used in all sectors of the industry.

FNSINC501
Conduct product research to support recommendations

This unit describes the skills and knowledge required to carry out research by interpreting available information, and analysing and reviewing research findings and activities to enable the determination of financial investment strategies and options. It applies to individuals who work in a range of financial services job roles involving research functions.

FNSIAD501
Provide appropriate services, advice and products to clients

This unit describes the skills and knowledge required to create rapport with clients, identify and analyse their needs, objectives and financial situation, and identify and present appropriate solutions, including completing and maintaining necessary documentation and providing after sales service. It applies to individuals working within enterprises and job roles who are required to advise on Australian Securities and Investments Commission (ASIC) Tier I products such as term deposits and personal, sickness and accident insurance products.

FNSCUS505
Determine client requirements and expectations

This unit describes the skills and knowledge required to establish a client’s financial requirements and expectations in regard to financial investment products, and includes quotations, claims and requests for service or amendments. It applies to individuals who may provide leadership, guidance and responsibility for work outcomes.

FNSCUS506
Record and implement client instructions

This unit describes the skills and knowledge required to accurately record and implement instructions regarding financial investments from a range of clients including direct, shareholder, member, organisation, stockbroker, trustee, agent and intermediary, and provide appropriate after sales service. It applies to individuals who may provide leadership and responsibility for their own and others’ work outcomes.

FNSASICU503
Provide advice in superannuation

This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally on superannuation in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level. It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform a specialist advisory role in superannuation.

FNSASIC301
Establish client relationship and analyse needs

This unit describes the skills and knowledge required to interpret and comply with industry regulations and codes of practice when considering the characteristics of financial products and services for individual client needs. It applies to individuals with excellent communication skills who are authorised as Australian Securities and Investments Commission (ASIC) registered Australian financial services licence (AFSL) holders to provide advice on deposit products, non-cash payment facilities and general insurance products at Tier 2 level. Work functions in the occupational areas where this unit 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.

Outcomes

Additionally, this qualification could give you several career and/or further study outcomes. After completing this course, you could explore some of the following outcomes.

Career outcomes
University pathways
This course might include a pathway to university, which are subject to change. Please speak to one of our Education Consultants for more information.

Entry requirements

Start date
Enrol anytime

As a guide, entrants to this program may:

  • have completed year 10, or
  • a qualification at Certificate III level or higher, or
  • 3 years of relevant industry experience in a role that requires the use of written documentation and communication.

You will also need to be at least 18 years at the time of applying for admission. Approval from HOF required

Resource requirements

You will need access to a computer and the internet and have basic computing operational skills. Minimum specifications for your computer are:

All users:

  • Microsoft Office 2010 or equivalent
  • Broadband internet connection
  • 2GB of RAM
  • CD-ROM or DVD drive
  • Chrome or Firefox browsers
  • Adobe Reader XI or equivalent
  • Adobe Flash Player 10 or higher
  • Access to printer and associated software
  • Access to scanner and associated software
  • Digital imaging software
  • File compression software

Windows users:

  • Microsoft Windows 7 or higher (Windows 8 recommended)
  • 1 Ghz or faster processer (2GHz recommended)

Mac OS users:

  • Mac OSX v10.5 or higher (Mac OSX v10.6 recommended)
  • 1 Ghz or faster processer (2GHz recommended)
Recording equipment / software required

A digital video recording device (for example a webcam or mobile phone with a camera) and simple recording apps to save and upload videos, images and audio files.

You will also need software such as Windows Media Player, Windows Photo Viewer, or Quicktime to view online videos and images.

Language requirements

This course involves reading, researching and undertaking a range of written and practical assessments, as well as engaging in online forums and discussions. Furthermore, the delivery mode relies on the extensive use of written communication. As such, entry to the course requires the successful completion of English to Year 10 level.

Completed English at Year 10 level, you can demonstrate equivalency through one of the following:

Successful completion of a Nationally Recognised Training qualification at Certificate II level or higher;

OR

2 years relevant industry experience in a role that requires the use of written documentation and communication.

Other requirements

Some assessments have Role-Play components and will require other participants to aparticipate as characters in role plays. These are designed to establish simulation and to demonstrate practical and/or oral communication skills. Students will be required to source and arrange these other participants, participants can be family, friends or workplace colleagues.

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