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The online FNS60920 Advanced Diploma of Paraplanning develops the essential knowledge and skills required for individuals who are seeking a career as a paraplanner. This course provides a comprehensive range of financial planning services across a range of product environments, involving complex issues requiring innovative strategies. It combines specialist knowledge and practical skills in preparing financial plans for retail clients across three practice areas: Life Insurance, Managed Investments, and Superannuation.
The course provides students with:
Students are supported by a simulated financial planning practice to assist in developing their skills in a realistic workplace environment.
Live fortnightly tutor sessions are also available to support students throughout their learning experience. Students can use these one-hour sessions to drop in and ask questions on to the subject content and assessments.
Note: this qualification is not for individuals who seek to provide personal advice to clients.
For individuals who are new to the financial services industry, Kaplan Professional provides an optional introductory subject IFP: Introduction to finance principles.
The FNS60920 Advanced Diploma of Paraplanning is structured into four subjects:
Please refer to the course outline for more information.
Introduction to finance principles (IFP) is an optional introductory subject for students who are new to industry (less than 6 months experience in the finance sector). Students may complete Introduction to finance principles (IFP) prior to studying the four subjects in the FNS60920 Advanced Diploma of Paraplanning.
Introduction to finance principles (IFP) provides students with a foundational understanding of the financial industry and a basic understanding of accounting principles and financial statements prior to commencing their studies in FNS60920 Advanced Diploma of Paraplanning.
Note: there are no units of competency issued for the Introduction of finance principles (IFP) subject.
On successful completion of Introduction to finance principles (IFP), students will have a basic understanding of:
Topic 1: Introduction to business finances
Topic 2: Accounting principles
Topic 3: The balance sheet
Topic 4: The income statement
Topic 5: Statement of cash flows
Topic 6: Analysing financial statements
Topic 7: Cost behaviour analysis
Topic 8: Budgeting and forecasting
Financial planning fundamentals (ADP1) is the first of four subjects of the FNS60920 Advanced Diploma of Paraplanning. This subject introduces students to the role of the professional paraplanner within the context of the evolving legal, regulatory, ethical, economic, and organisational environment of financial planning.
Students will demonstrate their knowledge and skills by preparing reports based on their research and analysis for a range of areas relevant to a paraplanner’s role.
On successful completion of financial planning fundamentals (ADP1) students should be able to:
Topic 1: Introduction to paraplanning and financial advice
Topic 2: The financial planning practice and process
Topic 3: Economic environment for financial planning
Topic 4: The finance industry
Topic 5: Legislation relevant to financial services
Topic 6: Ethics, standards, and professionalism
Topic 7: Communication and relationship skills
Topic 8: Compliance and risk management
Topic 9: Effective work and organisational practices
The Research, analysis, and product recommendations (ADP2) subject provides students with an in-depth understanding of the six-step financial planning process. Students will draw on knowledge and skills gained in the Financial planning fundamentals (ADP1) subject, then apply research, analysis, and problem‑solving skills to develop a series of recommendations that focus on the technical areas of life insurance, managed investments, and superannuation
Students will demonstrate their knowledge and skills by confirming information and instructions with stakeholders, then presenting and discussing proposed recommendations with authorised representatives.
On successful completion of Research, analysis, and product recommendations (ADP2) students should be able to:
Topic 1: Providing financial advice – licensee and advice obligations
Topic 2: Initial client meeting – data collection and scoping advice
Topic 3: Introduction to taxation
Topic 4: Overview of insurance products
Topic 5: Overview of managed investments
Topic 6: Overview of superannuation
Topic 7: Overview of social security
Topic 8: Overview of estate planning
Topic 9: Research, data analysis and recommendations
Topic 10: Making recommendations
In the Present, implement and assess the financial plan (ADP3) subject, students continue to focus on the six-step financial planning process, with a particular focus on preparing and presenting advice documents, including implementing recommendations.
Students will apply knowledge and skills in developing personal financial advice recommendations, constructing compliant advice documents including Statements of Advice (SoA) and Records of Advice (RoA) in superannuation, managed investments, and life insurance.
On successful completion of Present, implement and assess the financial plan (ADP3), students should be able to:
Topic 1: Creating effective and compliant financial advice
Topic 2: Financial and mathematical concepts and calculation
Topic 3: Preparing insurance advice
Topic 4: Preparing managed investments advice
Topic 5: Preparing superannuation advice
Topic 6: Finalising advice documents
Topic 7: Advice implementation and ongoing advice and service
In the Develop complex (multi-strategy) advice (ADP4) subject, students will integrate knowledge and skills gained in the previous subjects to produce effective and compliant multi-strategy advice in life insurance, managed investments, and superannuation.
Students will demonstrate their application of knowledge and skills, as they identify, research, and analyse advice issues for fictious client scenarios with multiple needs and objectives across a variety of technical advice areas, then develop comprehensive and compliant personal advice documents.
On successful completion of Develop complex (multi-strategy) advice (ADP4) students should be able to:
Topic 1: Developing complex (multi-strategy) advice
Topic 2: Writing effective, compliant multi-strategy advice documents
Topic 3: Wealth creation (accumulation) strategies
Topic 4: Wealth creation (accumulation) case study
Topic 5: Retirement (wealth utilisation) strategies
Topic 6: Retirement (wealth utilisation) case study
Topic 7: Ongoing advice for complex (multi-strategy) clients
The 12 units of competency are awarded for the successful completion of the qualification; 9 core and 3 electives. For information on the units of competency see the course outline in the Subject Overview tab.
Students have a total of:
Therefore, if an individual completes the learning and assessment, and the resubmission time in every subject is granted, the duration will be 78 weeks (includes the optional IFP subject).
The subject breakdown for this course is below:
The amount of training for this course is 13 hours per week. The amount of training is the hours a student can expect to spend engaging in structured learning or tutor-led activities.
The assessment hours for this course are 9 per week. These are the hours a student can expect to spend engaging in assessment activities.
In addition to the amount of training and assessment hours, students who are new to industry or vocational training may need 4 hours per week, known as unsupervised hours.
Individuals working in industry may be able to complete the course requirements in a shorter timeframe or less hours per week.
If a student applies for an extension beyond the 78 weeks completion timeframe or is granted special consideration, the maximum period of time to complete this qualification is two (2) years from the qualification activation date.
Additional study-related fees apply to formal extensions and re-enrolments. Please refer to the Vocational Education Fees schedule found here.
Please also refer to our Vocational Education and Training (VET) Enrolment Terms and Conditions here or our Student Handbook here for important information on:
Individuals who have completed FNS60920 Advanced Diploma of Paraplanning may apply for entry into the Graduate Certificate in Financial Planning with one year of relevant industry experience, or the Graduate Diploma of Financial Planning with two years of related industry experience (applies from 2023). Please refer to the separate Graduate Certificate in Financial Planning and Graduate Diploma of Financial Planning for further information regarding these two postgraduate courses.
They may also apply for exemptions at Kaplan Business School for the following qualifications:
Enrol directly into the program for $2,160 (ADP1-ADP4) or $540 per subject (GST exempt).
For additional study-related fees, please click here.
Students must complete ADP1 – 4 in order, and may not enrol into later subjects until they have completed all prior subjects.
There are no entry requirements to enrol directly in the FNS60920 Advanced Diploma of Paraplanning.
However, Kaplan Professional recommends individuals who are new to industry (individuals with less than six (6) months’ experience in the finance sector) complete the optional subject, Introduction to Finance Principles (IFP).
Individuals are required to be aged 18 years or older to enrol in this course.
Individuals who are in Australia on a student visa are unable to enrol in this course. If you’re in Australia on a visa and wish to enrol, you need to ensure you’re enrolling in accordance with the study conditions of your visa.
Language, Literacy and Numeracy (LLN) requirements
This course requires you to read comprehensive learner workbooks, complete a range of written assessments, undertake independent research activities, and at times engage, in online forums and discussions. In addition, the delivery mode relies on the extensive use of written communication.
If you have any doubts about whether you have the language, literacy and numeracy skills to undertake a Kaplan Professional program, we recommend you speak with our Student Services team on 1300 662 203 or email@example.com.
Computing technology and skills requirements
In order to complete your studies with Kaplan Professional, you’re assumed to have the following skills and access relating to technology.
Audio recording app
Individuals will need to use a free or paid audio-recording app on their phone, tablet or computer to record and submit their oral assignment. Most devices come with a free built-in audio/voice-recording app.
More information should be available in the device manual or on the device manufacturer’s website. Below are help links for some popular devices.
To successfully complete this course, individuals will require basic computing skills. This may include:
New to the financial services industry
For individuals who are new to industry (less than 6 months experience), Kaplan Professional provides an optional introductory subject IFP: Introduction to Finance Principles. In this subject, individuals are provided with an introduction to finance, including budgeting and forecasting, balance sheets, income statements, cash flows and accounting principles.
IFP: Introduction to Finance Principles – optional (separate to the qualification)
Individuals must enrol in all four subjects in the FNS60920 Advanced Diploma of Paraplanning, and complete them in sequential order below:
This course is delivered online via Kaplan Professional’s learning management system, KapLearn.
You’ll receive login details to KapLearn on enrolment. When you log into KapLearn, you’re able to access the subject notes, assessments and additional learning materials. This includes media, case studies, practice activities and your online tutor. It also includes an additional subject room which houses a simulated financial planning practice to provide you a unique real-world learning experience.
Assessments are accessed and submitted through KapLearn.
Corporate clients should contact our Corporate Solutions team on 1300 728 505 to discuss face-to-face delivery options and how we can tailor our training to your business needs.
Recognition of Prior Learning (RPL)
Individuals may be able to obtain Recognition of Prior Learning (RPL) for a Kaplan award subject based on their previous study and/or work experience. To do this, individuals must submit evidence that demonstrates they have already met the requirements of the subject through these other means.
Evidence can take many forms, such as information about approved study, information about work experience, certificates, transcripts or other credentials.
To find out if you are eligible for RPL, refer to our Credit Transfer and Recognition of Prior Learning.
The assessments for each subject are listed below. Units of competency are co-assessed by topic within subjects, as listed in ‘Units of competency’.
The mode of oral assessment is by audio recording. As part of the course requirements, individuals will need to find a volunteer to assist with their role play in the oral assignment.
Individuals may attempt the exam and/or submit their assignment at any time if they believe they are adequately prepared. Individuals will receive personal reminder emails as they approach their assessment deadlines.
Individuals must be deemed competent in all assessment items, including demonstrating competency in all of the exam questions, in order to be awarded their qualification or statement of attainment.
Individuals who complete the qualification will receive a qualification certificate.
To learn more about what to expect when completing an oral assignment using audio please click here.
Kaplan Professional’s exams
You can sit your exam while being supervised in your workplace or with online supervision via Zoom at a suitable location.
Click here for more information about Kaplan Professional exams.
Individuals who enrol in a Kaplan Professional course are bound by our published policies, including the policy that sets out our rules for assessment. Individuals can review these policies here. The policies also assist individuals when their study program does not go as planned and they need extra support.
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