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FPC002B Ethics and Professionalism in Financial Advice (aligns to FAS bridging course: Ethics for Professional Advisers)

This subject focuses on the ethical and professional obligations of financial advisers through the broad lens of ethical and professional theoretical frameworks. The professional obligations and conduct imposed by the values and standards of the Financial Planners and Advisers Code of Ethics 2019 (Code of Ethics, previously known as the FASEA Code of Ethics) are explained and examined in detail. Students have the opportunity to recognise and respond appropriately to dilemmas encountered as a financial adviser.

Students follow a fictitious case study through much of the assessment, so that they may apply their understanding of the ethical and professional obligations of financial advisers.

Students are able to attend four one-hour online workshops, where key topic concepts and examples are discussed with a facilitator. Additionally, students are able to attend five drop-in sessions, where students can ask questions to gain further clarification on key concepts and the assessments.

Students are encouraged to attend the online workshops and drop-in sessions throughout the study period.

For more information, please refer to the subject outline.

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  • Learning Outcomes

    • On successful completion of this subject, individuals should be able to:

      1.    Explain the role of ethical frameworks and professional standards within the financial planning profession.

      2.    Assess the impacts of cognitive, judgement and decision biases on financial advisers and their clients.

      3.    Demonstrate an understanding of professional obligations and conduct required by the values and standards of the Financial Planners and Advisers Code of Ethics 2019.

      4.    Identify and solve ethical dilemmas encountered as a financial adviser through application of ethical frameworks and professional standards.

  • Subject content
    • Topic Title
      Topic 1 Introduction to ethics, including individual cognitive bias and sources of judgement and decision bias
      Topic 2 The concept of professionalism
      Topic 3 The financial planning profession and the Code of Ethics
      Topic 4 Values underpinning the Code of Ethics
      Topic 5 The application of the Code of Ethics – Ethical behaviour (Standards 1 – 3)
      Topic 6 The application of the Code of Ethics – Client care (Standards 4 – 6)
      Topic 7 The application of the Code of Ethics – Quality process (Standards 7 – 9)
      Topic 8 The application of the Code of Ethics – Professional commitment (Standards 10 – 12)
      Topic 9 Contemporary issues in ethics and professionalism

  • CPD

    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Duration

    • The duration of this subject is one study period (12 weeks).

  • Assessment
    • Assessment Type Description Week Topics Weighting
      Analysis Task Research and reflection task Week 4 1-3 20%
      Assignment Assignment (case study/scenario based long and short answer questions) Week 8 1-7 40%
      Examination Supervised, open book format, multiple-choice questions and case study/scenario based short answer questions Week 12 1-9 40%

  • Prerequisites

    • There are no prerequisites for this subject.

      However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge

    • Not applicable.

  • Course transition subject equivalence

    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • there are no equivalences for this subject.
  • Reading list

    • There is no prescribed text for this subject.

      Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.

  • Recognition of Prior Learning (RPL)
  • Key Dates

    • Next available intake

      Study Period 6, 2023 important dates  
      Enrolments open Now
      KapLearn opens (early access) 3 October 2023
      Early access to assessments 16 October 2023
      Study period commences 30 October 2023
      Assessment dates Click here >
      Enrolments close / Census 15 November 2023
      Study period ends 19 January 2024

      For a full list of annual study period dates, click here >

  • Fees
    • Enrolment fees Fee
      Subject fee 2023 $2,600

      Note: If this subject is undertaken as a standalone subject, no FEE-HELP is available.

      FEE-HELP is available for individuals undertaking this subject as part of a qualification. Click here to find out if you’re eligible.

      Click here for a full list of fees and allowances.

  • How to enrol

    • FASEA Bridging Courses can be located under the following category within the enrolment portal:

      • Financial Services – Postgraduate

      Choose the following under ‘Select Course’:

      • FASEA Bridging Courses

      You will then be required to select your chosen study period. Once you have completed this, select the ‘Ethics and Professionalism in Financial Advice’ subject. 

      Click here to enrol.

      Need help?

      Talk to a Student Adviser on 1300 135 798.

  • Subject enhancements

    • We’re pleased to announce that the following enhancements have been made to this subject:

      • transitioned exam to open book format
      • inclusion of current and contemporary issues impacting financial advice models
      • clarifications to all assessment instructions to improve student experience.