Diploma Financial Planning (RG146 Compliant)
What does the FNS50611 Diploma of Financial Planning course involve?
To successfully launch your career in financial services, Monarch’s RG146 FNS50611 Diploma of Financial Planning course provides you with the necessary industry specific certification (known as RG146) to be ASIC compliant. The course provides you with the ability to provide BOTH personal advice and general advice in the key areas of Financial Planning, Managed Investments, Securities, Derivatives, Superannuation and Insurance. This is also known as Tier 1 financial advice. Upon receiving your FNS50611 Diploma of Financial Planning, you can work as a financial advisor, or in various other roles within the financial services industry. The course has been written by successful financial planners and is reviewed and updated every 3 months so it is always up-to-date. Students consistently tell us the course is very well structured and easy-to-follow. The course is nationally accredited by the Australian Government under the Australian Skills Quality Framework (ASQA). Monarch’s FNS50611 Diploma in Financial Planning covers all the fundamentals of financial planning and is a recognised pathway to our FNS60410 Advanced Diploma of Financial Planning and also University qualifications. You can choose to enrol in either our online/distance or face-to-face courses. You will see our competitive prices to the right of this page.
Special Offer: Add RG146 SMSF for only $175 extra – a saving of $300!
Are you an Accountant? This RG146 qualification meets the education requirements issued by ASIC under the “Accountant Exemption Rules” for SMSF advice.
DFP 1 - Foundations of Financial Planning
- Fundamentals of the Australian economy
- Financial markets & participants
- Regulatory environment
- Australian licensing framework
- Establishing client relationships
- Identifying client goals and objectives
- Analysing client risk profile
- Developing financial planning strategies
- Presenting strategies to clients
- Implementation of strategies
- Client review process
- Code of ethics
- Introduction to taxation
- Introduction to social security
- Estate planning fundamentals
- Economic fundamentals
- Risk management within a financial services office
DFP 2 - Investments
- Key asset classes
- Securities – money market instruments
- Securities – fixed interest and bonds
- Securities – property
- Securities – shares
- Securities – alternative investments
- Risk and return
- Investing in each asset class
- Difference between income and growth
- Dollar cost averaging
- Managed investments
- Index funds
- Fund managers
- Investment platforms
- Case studies
- Strategic asset allocation
- Tactical asset allocation
- Time value of money
- Application of investment principles
DFP 3 - Superannuation & Retirement Planning
- Superannuation in Australia
- Accumulation funds and defined benefit funds.
- Who can contribute into superannuation
- Identify the different kinds of contributions
- Taxation and superannuation earnings
- The superannuation guarantee
- The government co-contribution
- Super splitting and how it works
- Salary sacrifice and how it is applied
- Strategies and case studies
- The role and responsibility of superannuation trustees.
- How SMSF’s operate
- The mechanics of a superannuation pension
- Preservation age and accessing superannuation
- The tax applicable to superannuation benefits.
DFP 4 - Insurance & Risk Management
- The relationship between risk and insurance
- The basic characteristics of insurance
- General insurance
- Different types of insurance contracts
- Term life insurance
- Total and permanent disability insurance
- Critical illness (trauma) insurance
- Income protection insurance
- Taxation and personal insurance
- Identifying a client’s insurance needs
How long is the course and how much will it cost?
Various course schedules (streams) are available, including:
Standard Options Face to face workshops Day stream Facilitated by expert industry qualified trainers Face to face workshops Evening stream Facilitated by expert industry qualified trainers Online (Self-Paced) learning Online stream
- 1300 Telephone Support with our Licensed Financial Planners who are also our trainers.
- Email support
- Access the student forum via our Online leaning platform (moderated by trainers)
- Submit direct queries to trainers via the Online learning platform
- Unlimited help from our dedicated Online education support team
Corporate Options Customised training solutions for small, medium and large companies.
Face-to-face workshops^: are conducted in a classroom environment enabling you to learn efficiently within a structured and engaging format. The workshops allow you to interact and network with other students under the guidance of industry professionals who “bring the course to life” and provide a “real world” perspective. IMPORTANT: Workshops are a fantastic way to learn, HOWEVER, pre-reading is recommended and NO assessments are completed within the workshop days or nights. The nominated workshop days ARE NOT a reflection of how long it takes to successfully complete the assessments and hence course. The factors that determine how long it takes to successfully complete the Diploma of Financial Planning are based on three things; work rate, background and ability.
Online (Self-Paced) learning: allows you to start a course when and where it is convenient for you to study. Distance learning is particularly popular with stay-at-home parents, full time employees, or anyone seeking maximum flexibility. Did you know all our Online students are allocated their own Licensed Financial Planning trainer? In addition to having a licensed financial planner to answer your queries, you are also well supported throughout your course by Monarch’s dedicated Online education support team, available both over the phone and online.
FNS50611 Diploma in Financial Planning – Detailed Pricing
You can choose to enrol in the FULL Diploma of Financial Planning or alternatively you can enrol in just individual units (see prices below). There are substantial savings when enrolling in the Full Diploma of Financial Planning.
Diploma units Online (self paced)
Face to Face
DFP1 Foundations of Financial Planning $475 $950 DFP2 Investments $475 $950 DFP3 Superannuation & Retirement Planning $475 $950 DFP4 Insurance & Risk Management $475 $950 FULL Diploma
Enrol in the FULL Diploma and save!!
$1,425 – we price match! $2,950 HUGE SAVINGS Quality education, now more affordable Quality education, now more affordable
^All students studying at Monarch Institute are regarded as undertaking a course or qualification by Online distance education. Students may also choose to attend optional workshops which are facilitated by a recognised industry expert (‘facilitator’), in this instance a Financial Planning Professional. All Monarch facilitators are nationally recognised trainers and assessors under the Australian Quality and Training Framework (AQTF). To successfully complete the FNS50611 Diploma of Financial Planning, pre-reading, attendance at optional workshops (if applicable), self-study and post-workshop assessment is required. For further information, refer to Monarch Institute’s Student Information Guide and the workshop timetable section on our website. Please note, to be issued statements of attainment for units of competency in modules 2, 3 and 4 it is a prerequisite that module 1 is completed prior.
What study options do I have?
Various locations are available for Diploma of Financial Planning training, including:
- Face-to-Face workshops – CBD training held nationwide.
- Your Office – Monarch Institute provides onsite training for group instruction.
- Online Distance Learning – the choice is yours.
Studying Online...what is it like?
Many students choose to study the FNS50611 Diploma of Financial Planning with Monarch via our online distance course. The cost saving are one significant reason – the course fee is generally close to half the price of a face-to-face course fee. But its just not only about the lower course prices. Many students tell us they want the convenience to study when, where and how best suits their lifestyle requirements. Studying at night, weekend or a few hours here or there is simply not a problem when enrolled in our online distance course. And Monarch offers a continuance enrolment intake for the online/distance course so you can start any time.
What student support will I receive when studying online/distance?
Many students are amazed to find out Monarch allocates each and every online/distance student to their own personal financial planning trainer. Your trainer is a successful Licensed Financial Planner so the help you get from your trainer while studying with Monarch is actually help from a licensed practising financial planning professional. As your online/distance trainer, they are always happy to talk to you about the practical “must know” strategies they use to remain successful and deliver true value. You can contact your trainer via email, phone or Skype as often as you like. Contact is encouraged so we always tell students when enrolling to make the most of it and take advantage of their personal trainer’s unique insight and experience, as part of their own education and learning experience.
So if you are considering studying online with Monarch, even though you may well be completing the online/distance course at home, in a coffee shop or in park by reading the materials and completing the online assessments, remember help and support is just an email or phone call away. The assessment feedback is also marked by your trainer and the general turnaround for assessments once you submit them online into our online learning management system (called ‘Moodle’) is 72 hours, often earlier! Convinced yet? We think you should be
Is this course accredited?
Monarch Institute’s FNS50611 Diploma of Financial Planning and Advanced Diploma in Financial Planning are Government accredited. It has National recognition under the Australian Qualifications Framework (AQF) meaning it can be used as a pathway to a university qualification, nationwide. The course is ASIC compliant, having been approved by ASIC authorised assessors in meeting ASIC Policy Statement 146 (known as RG146) and is listed on the ASIC Training Register at: http://asic.gov.au/eTraining/eTrain.nsf
Units of Competency
To be awarded a FNS50611 Diploma of Financial Planning: 16 units of competency are required for award of this qualification. An additional 5 units are required in order to be recognised as RG146 compliant in each of the following areas:
- Financial Planning (Personal Advice Skills)
- Generic Knowledge (Generic Advice)
- Life Insurance (including General Insurance)
- Superannuation & Retirement Planning
- Managed Investments
The units of competency* listed below are packaged into 4 modules:
(1 – Foundations, 2 – Investments, 3 – Superannuation, 4 – Insurance):
National code Unit Title FNSASICZ503A Provide advice in Financial Planning FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations FNSFPL502A Conduct financial planning analysis and research FNSFPL503A Develop and prepare financial plan FNSFPL504A Implement financial plan FNSFPL505A Review financial plans and provide ongoing service FNSFPL506A Determine client requirements and expectations FNSINC401A Apply principles of professional practice to work in the financial services industry BSBITU402A Develop and use complex spreadsheets FNSASICT503A Provide advice in Managed Investments FNSASICW503A Provide advice in Securities FNSASICV503A Provide advice in Derivatives FNSASICU503A Provide advice in Superannuation FNSASICX503A Provide advice in Life Insurance FNSIAD501A Provide appropriate services, advice and products to clients FNSFMK502A Analyse financial market products for clients FNSFMK503A Advise clients on financial risk FNSINC501A Conduct product research to support recommendations FNSCUS505A Determine client requirements and expectations FNSCUS506A Record and implement client instructions FNSASICM503A Provide Tier 1 personal advice in life insurance
Please note, if you choose to up-grade to obtain RG146 SMSF accreditation, the following 5 units of competency are also included:
National code Unit Title FNSSMS501A Invest self-managed superannuation funds assets FNSSMS505A Support trustee in the selection and performance monitoring of outsourced services FNSSMS601A Provide advice in self-managed superannuation funds FNSSMS602A Apply taxation requirements when advising in self-managed superannuation funds FNSSMS603A Apply legislative and operational requirements to advising in self-managed superannuation funds
*Please note, to be issued statements of attainment for units of competency in modules 2, 3 and 4 it is a prerequisite that module 1 is completed prior.
How will I be assessed?
Monarch has carefully structured its financial services assessments to include a variety of formats which will enhance your understanding:
- Case studies
- Multiple choice
- Short answer questions
- Role plays
What employment and career opportunities will I have?
Any person who provides financial advice must have an industry specific accreditation (known as RG146 certification). Completing the Monarch Institute FNS50611 Diploma of Financial Planning automatically means you are RG146 compliant in the key areas of financial planning, managed investments, securities, derivatives, life insurance and superannuation. For more detailed information click on the “Units of Competency” tab above this.
This RG146 qualification will provide you with a vast array of employment opportunities within the financial services industry including; banks, fund managers, investment platform providers, investment research houses, superannuation funds, stock brokers, credit unions, accounting practices, financial planning practices, mortgage broking businesses, insurance firms, business brokers and real estate agencies.
- Speaking to fellow students (and others) already working in the industry, to understand the areas currently in demand.
- Research current vacancies and remuneration levels on career websites such as www.seek.com.au and www.mycareer.com.au
- Inquire about professional membership to industry associations. There are often discounts for students so enquire at:
What further study options will I have?
After the successful completion of a Diploma of Financial Planning you are eligible to enrol in the FNS60410 Advanced Diploma of Financial Planning.
Will my previous experience or study count?
Monarch Institute recognises Recognition of Prior Learning (RPL) which takes into account the knowledge and skills you have already gained through your previous education and work history, attributing this to your Financial Services Diploma. This may be through formal or informal training and can result in credits towards your qualification.
Advisers and students with foreign qualifications are required by ASIC to undertake courses on the ASIC training register to familiarise themselves with Australian regulatory requirements.