Course overview

Are you an existing adviser looking to become compliant in the ASIC RG146 Financial Planning knowledge area?

Kaplan Professional, a leading national provider of education in financial services offers the Kaplan Tier 1 RG146 Compliance Solution for existing advisers seeking to provide either general advice or personal advice in the Financial Planning specialist knowledge area.

This course provides existing advisers with the opportunity to develop the professional knowledge and skills (if required) to provide financial planning advice following a step–by–step process.

This subject also introduces key areas of financial advice, including investment markets, taxation, social security, and retirement planning and risk management. Existing advisers may need to meet additional regulatory or licensee requirements before providing specific advice in these areas.

Individuals can elect to study either a general advice or personal advice option.

General advice option

Upon successful completion of this option, existing advisers will meet the education requirements of ASIC Regulatory Guide 146 for providing general advice in financial planning to retail clients.

Personal advice option

Upon successful completion of this option, existing advisers will meet the education requirements of ASIC Regulatory Guide 146 for providing personal advice in financial planning to retail clients.

Units of competency are only awarded to existing advisers who complete the personal advice option of this subject. Please see the Tier 1 Financial Planning – Personal Advice   to view the relevant units of competency.

Please refer to the subject outlines for more information:

• Tier 1 Financial Planning – General Advice
• Tier 1 Financial Planning – Personal Advice

Fees

Tier 1 Compliance Solution – Financial Planning

Personal Advice: $120 (GST exempt)

General Advice: $270 (GST exempt)

For additional study-related fees, please click here

Duration

General Advice:

Individuals have a total of:

• 12 weeks to complete the learning and assessment requirements for the Tier 1 Financial Planning – General Advice subject, from their initial activate date.
• An additional four (4) weeks resubmission time – If an individual reaches the end of their initial enrolment period and has been deemed not yet competent in the exam, then an additional 4 weeks will be granted. This time can be used to re-sit the exam. There is no fee for this extension.

Therefore, if an individual completes the learning and assessment, and the resubmission time in every subject is granted, the duration will be 16 weeks.

Personal Advice:

Individuals have a total of:

• 12 weeks to complete the learning and assessment requirements for the Tier 1 Financial Planning – Personal Advice subject, from their initial activation date.
• An additional four (4) weeks resubmission time – If an individual reaches the end of their initial enrolment period and has been deemed not yet competent in one or more tasks, then an additional 4 weeks will be granted, provided the individual attempted all assessment tasks during the initial enrolment period.

Therefore, if an individual completes the learning and assessment, and the resubmission time in every subject is granted, the duration will be 16 weeks.

The amount of training for this course may be up to 10 hours per week. The amount of training is the hours an individual can expect to spend to complete their course work and assessments.

In addition to the amount of training, individuals who are new to industry or vocational training could need up to 5 hours per week known as unsupervised hours. These additional hours are for study skills or further research. For example, an individual not working in industry would need more time to review industry websites that are usually introduced in workplace compliance training.

Individuals working in industry may be able to complete the course requirements in a shorter timeframe or less hours per week.

Additional study-related fees apply to formal extensions and re-enrolments. Please refer to the Vocational Education Fees schedule found here.

• Subject activation and completion timeframes
• Extensions
• Subject re-enrolment.

Entry requirements

Education requirements

From 1 January 2019, FASEA’s new professional standards requirements for financial advisers will progressively replace the minimum training standards in Regulatory Guide 146 Licensing: Training of financial product advisers (RG 146).

RG 146 will continue to apply to financial advisers who are authorised by their Australian financial services (AFS) licensee as an ‘existing provider’ until the new requirements apply to them.

RG 146 will also continue to apply to advisers who are not ‘relevant providers’ –

• that is, those who only provide general advice,
• those who provide advice about Tier 2 or less complex financial products
• and those who only give advice in relation to a time-sharing scheme.

ASIC will review and update their guidance for advisers who are not relevant providers.

RG 146 will not apply to new entrants to the industry seeking to become a relevant provider from 1 January 2019 or existing advisers providing personal advice from 1 January 2024. They will need to meet FASEA’s new professional standards requirements.

General Advice:

Existing advisers completing Tier 1 Financial Planning – General Advice will need to have completed Generic Knowledge.

Personal Advice:

Existing advisers completing Tier 1 Financial Planning – Personal Advice must hold the pre-requisite units of competency and have completed Tier 1 Generic Knowledge. If existing advisers do not meet the entry requirements, they are required to complete the subject, DFP1 Financial Planning Fundamentals.

Individuals are required to be aged 18 years or older to enrol in this subject.

Enrolment information

Enrolment

You may enrol into this course at any time and begin studying immediately on enrolment.*

To enrol online, please follow these steps:

• In the ‘category’ drop down list select Financial Services – Tier 1
• In the ‘Search by’ drop down list select subject
• If you just click search this will show all Tier 1 subjects and you will be able to enrol into multiple subjects

Or

• You can search for the specific subject you are wishing to enrol into by entering the name of the subject and clicking search.

Delivery

This course is delivered online via Kaplan’s learning management system KapLearn.

You will receive login details to KapLearn upon enrolment. When you log on to KapLearn you are able to access the subject notes, assessments, additional learning materials such as media, case studies, practice activities and your online tutor.

Assessments are accessed and submitted through KapLearn.

Corporate clients should contact our Corporate Solutions Representative 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 professional 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 (RPL) page.

* If you have not previously completed Generic Knowledge, please ensure you enrol into this subject as it is a prerequisite of the Tier 1 knowledge areas.

Pathways

The Tier 1 ASIC RG146 units of competencies identified on your Statement of Attainment will provide partial credits towards the FNS50615 Diploma of Financial Planning, should you decide to continue with your studies and enrol into this qualification.

Assessment

The assessments for each subject are listed below:

Individuals may attempt the exam and/or submit their written and oral assignment at any time if they believe they are adequately prepared. Individuals will receive personal reminder emails as they approach their assessment deadlines.

For Personal Advice, individuals must be deemed competent in all assessment items in order to be awarded their qualification or course. 

To learn more about what to expect when completing an oral assignment using audio please click here.

Individuals who complete the Personal Advice subject will receive a statement of attainment.

Kaplan Professional exam venues

You can sit your exam while being supervised in your workplace or at a Kaplan Professional office.

Click here for Kaplan Professional office exam times and venues.

Policies

Student 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