IFP Introduction to finance principles ― optional 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. Learning outcomes On successful completion of Introduction to finance principles (IFP), students will have a basic understanding of: The finance industry Accounting principles Financial statements Topics 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 ADP1 Financial planning fundamentals 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. Learning outcomes On successful completion of financial planning fundamentals (ADP1) students should be able to: explain how legislative, regulatory, ethical, economic, and organisational considerations impact on the role of a paraplanner prepare effective reports based on research and analysis on a range of areas relevant to a paraplanner’s role demonstrate effective written, oral, and digital communication skills with a range of stakeholders establish effective personal and organisational work procedures and practices to support the six-step financial planning process. Topics 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 ADP2: Research, analysis, and product recommendations 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. Learning outcomes On successful completion of Research, analysis, and product recommendations (ADP2) students should be able to: source and record client personal and financial information and needs from fact find documents, file notes and other sources conduct research into relevant strategies and products to address client needs apply relevant analysis techniques and technology (including modelling) to analyse suitability to meet client needs develop appropriate proposed recommendations which meet required legislative, regulatory, ethical, economic, and organisational requirements demonstrate effective written, oral, and digital communication skills with a range of stakeholders implement effective personal and organisational work procedures and practices to support the six-step financial planning process. Topics 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 ADP3: Present, implement and assess the financial plan 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. Learning outcomes On successful completion of Present, implement and assess the financial plan (ADP3), students should be able to: explain the legislative obligations, and regulatory and organisational requirements for creating and presenting compliant personal advice documents select and develop technical strategies which optimise outcomes for clients and consider benefits, risks, advantages, disadvantages, and costs prepare and present to financial advisers clear, concise, and effective advice documents which incorporate all required legislative and organisational requirements, including required disclosures demonstrate effective written, oral, and digital communication skills to prepare, present and implement personal financial advice integrate continuous improvement into personal and organisational processes and practices to support the six-step financial planning process. Topics 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 ADP4: Develop complex (multi-strategy) advice 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. Learning outcomes On successful completion of Develop complex (multi-strategy) advice (ADP4) students should be able to: analyse complex client personal and financial scenarios to identify, quantify and prioritise client needs assess suitable strategy and product options to meet multiple and potentially conflicting needs of clients determine, develop, present, and finalise comprehensive and compliant initial and ongoing personal financial advice documents demonstrate effective communication skills with a range of stakeholders Topics 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.
FNS60920 Advanced Diploma of Paraplanning Download a brochure Course overviewSubject informationDurationPathwaysFeesEntry requirementsEnrolment informationAssessmentPoliciesCourse overviewThe 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: foundational knowledge of the financial planning profession an in-depth understanding of compliance requirements, ethical and operational guidelines, legislation, and regulations in financial planning; including monitoring and reviewing compliance in organisational processes strategies to conduct financial product research analysis and present recommendations to relevant stakeholders, including monitoring after-sales services an in-depth understanding of technical strategies to analyse clients’ needs, in order to prepare statements of advice for retail clients in life insurance, managed investments, and superannuation. Students are supported by a simulated financial planning practice to assist in developing their skills in a realistic workplace environment. Live 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: ADP1 Financial planning fundamentals ADP2 Research, analysis, and product recommendations ADP3 Present, implement and assess the financial plan ADP4 Develop complex (multi-strategy) advice Please refer to the course outline for more information. Subject information IFP Introduction to finance principles ― optional 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. Learning outcomes On successful completion of Introduction to finance principles (IFP), students will have a basic understanding of: The finance industry Accounting principles Financial statements Topics 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 ADP1 Financial planning fundamentals 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. Learning outcomes On successful completion of financial planning fundamentals (ADP1) students should be able to: explain how legislative, regulatory, ethical, economic, and organisational considerations impact on the role of a paraplanner prepare effective reports based on research and analysis on a range of areas relevant to a paraplanner’s role demonstrate effective written, oral, and digital communication skills with a range of stakeholders establish effective personal and organisational work procedures and practices to support the six-step financial planning process. Topics 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 ADP2: Research, analysis, and product recommendations 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. Learning outcomes On successful completion of Research, analysis, and product recommendations (ADP2) students should be able to: source and record client personal and financial information and needs from fact find documents, file notes and other sources conduct research into relevant strategies and products to address client needs apply relevant analysis techniques and technology (including modelling) to analyse suitability to meet client needs develop appropriate proposed recommendations which meet required legislative, regulatory, ethical, economic, and organisational requirements demonstrate effective written, oral, and digital communication skills with a range of stakeholders implement effective personal and organisational work procedures and practices to support the six-step financial planning process. Topics 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 ADP3: Present, implement and assess the financial plan 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. Learning outcomes On successful completion of Present, implement and assess the financial plan (ADP3), students should be able to: explain the legislative obligations, and regulatory and organisational requirements for creating and presenting compliant personal advice documents select and develop technical strategies which optimise outcomes for clients and consider benefits, risks, advantages, disadvantages, and costs prepare and present to financial advisers clear, concise, and effective advice documents which incorporate all required legislative and organisational requirements, including required disclosures demonstrate effective written, oral, and digital communication skills to prepare, present and implement personal financial advice integrate continuous improvement into personal and organisational processes and practices to support the six-step financial planning process. Topics 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 ADP4: Develop complex (multi-strategy) advice 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. Learning outcomes On successful completion of Develop complex (multi-strategy) advice (ADP4) students should be able to: analyse complex client personal and financial scenarios to identify, quantify and prioritise client needs assess suitable strategy and product options to meet multiple and potentially conflicting needs of clients determine, develop, present, and finalise comprehensive and compliant initial and ongoing personal financial advice documents demonstrate effective communication skills with a range of stakeholders Topics 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. DurationStudents have a total of: 62 weeks to complete the learning and assessment requirements for IFP Introduction to finance principles and FNS60920 Advanced Diploma of Paraplanning from their initial activation date. An additional four (4) weeks resubmission time per subject (except IFP), which will be granted if all assessment tasks have been attempted and the student has been deemed not yet demonstrated in one or more tasks. This time can be used to resubmit a written and oral assignment or resit an exam. There is no fee for the resubmission. 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: SubjectDurationAssessment resubmission IFP Introduction to finance principles (optional)6 weeksN/A ADP1 Financial planning fundamentals14 weeks4 weeks ADP2 Research, analysis and product recommendations14 weeks4 weeks ADP3 Present, implement and assess the financial plan 14 weeks4 weeks ADP4 Develop complex (multi-strategy) advice14 weeks4 weeks Total78 weeks 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: Subject activation and completion timeframes Extensions Subject re-enrolment PathwaysIndividuals 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: Bachelor of Business (General) Bachelor of Business (Accounting) Bachelor of Business (Management) Bachelor of Business (Marketing) Bachelor of Business (Hospitality and Tourism Management) FeesEnrol 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. Entry requirementsEducation requirements 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 mail@kaplan.edu.au. 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. Apple iOS Apple (mac OS) Samsung (Android) HTC (Android) Windows 10 Skill requirements To successfully complete this course, individuals will require basic computing skills. This may include: saving and editing Microsoft Office documents researching, accessing and searching the internet downloading and saving documents from websites uploading documents through websites making an audio recording using a smartphone, tablet or computer participating in online discussions Enrolment informationNew 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) Progression Individuals must enrol in all four subjects in the FNS60920 Advanced Diploma of Paraplanning, and complete them in sequential order below: ADP1 Financial planning fundamentals ADP2 Research, analysis, and product recommendations ADP3 Present, implement and assess the financial plan ADP4 Develop complex (multi-strategy advice) Delivery 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. AssessmentThe assessments for each subject are listed below. Units of competency are co-assessed by topic within subjects, as listed in ‘Units of competency’. SubjectAssessment Assessment Detail IFP Introduction to finance principles (optional)N/AN/A ADP1 Financial planning fundamentals1 ExamSupervised, open book multiple choice examination, four (4) attempts. 1 Written and Oral AssignmentWritten and oral assignment – two (2) attempts Written - short answer questions, case studies Oral - role playThe 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. ADP2 Research, analysis, and product recommendations 1 ExamSupervised, open book multiple choice examination, four (4) attempts. 1 Written and Oral AssignmentWritten and oral assignment – two (2) attempts Written - short answer questions, case studies Oral - role playThe 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. ADP3 Present, implement and assess the financial plan 1 ExamSupervised, open book multiple choice examination, four (4) attempts. 1 Written and Oral AssignmentWritten and oral assignment – two (2) attempts Written - short answer questions, case studies Oral - role playThe 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. ADP4 Develop complex (multi-strategy) advice 1 ExamSupervised, open book multiple choice examination, four (4) attempts. 1 Written and Oral AssignmentWritten and oral assignment – two (2) attempts Written - short answer questions, case studies Oral - role playThe 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. PoliciesStudent policies 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. Terms and Conditions Click here to access our terms and conditions. Refund Policy Access our refund policy 1300 662 203 Ask a question > First and Last Name* First Last Phone*Please enter in the following format: 614********Email* State*StateACTNSWNTQLDSATASVICWAInternationalWhen would you like to start studying?*When would you like to start studying?Ready nowI'd like to start within 3-6 monthsI'd like to start within 6-12 monthsI'm just gathering information at this stageAsk a question (optional) Consent* I confirm the details entered above are correct and consent to Kaplan Professional using and handling my personal information in accordance with its privacy policy.*PhoneThis field is for validation purposes and should be left unchanged. 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IFP Introduction to finance principles ― optional 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. Learning outcomes On successful completion of Introduction to finance principles (IFP), students will have a basic understanding of: The finance industry Accounting principles Financial statements Topics 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 ADP1 Financial planning fundamentals 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. Learning outcomes On successful completion of financial planning fundamentals (ADP1) students should be able to: explain how legislative, regulatory, ethical, economic, and organisational considerations impact on the role of a paraplanner prepare effective reports based on research and analysis on a range of areas relevant to a paraplanner’s role demonstrate effective written, oral, and digital communication skills with a range of stakeholders establish effective personal and organisational work procedures and practices to support the six-step financial planning process. Topics 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 ADP2: Research, analysis, and product recommendations 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. Learning outcomes On successful completion of Research, analysis, and product recommendations (ADP2) students should be able to: source and record client personal and financial information and needs from fact find documents, file notes and other sources conduct research into relevant strategies and products to address client needs apply relevant analysis techniques and technology (including modelling) to analyse suitability to meet client needs develop appropriate proposed recommendations which meet required legislative, regulatory, ethical, economic, and organisational requirements demonstrate effective written, oral, and digital communication skills with a range of stakeholders implement effective personal and organisational work procedures and practices to support the six-step financial planning process. Topics 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 ADP3: Present, implement and assess the financial plan 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. Learning outcomes On successful completion of Present, implement and assess the financial plan (ADP3), students should be able to: explain the legislative obligations, and regulatory and organisational requirements for creating and presenting compliant personal advice documents select and develop technical strategies which optimise outcomes for clients and consider benefits, risks, advantages, disadvantages, and costs prepare and present to financial advisers clear, concise, and effective advice documents which incorporate all required legislative and organisational requirements, including required disclosures demonstrate effective written, oral, and digital communication skills to prepare, present and implement personal financial advice integrate continuous improvement into personal and organisational processes and practices to support the six-step financial planning process. Topics 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 ADP4: Develop complex (multi-strategy) advice 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. Learning outcomes On successful completion of Develop complex (multi-strategy) advice (ADP4) students should be able to: analyse complex client personal and financial scenarios to identify, quantify and prioritise client needs assess suitable strategy and product options to meet multiple and potentially conflicting needs of clients determine, develop, present, and finalise comprehensive and compliant initial and ongoing personal financial advice documents demonstrate effective communication skills with a range of stakeholders Topics 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.
