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FNS50615

Diploma of Financial Planning (RG146 Compliant)

What does the FNS50615 Diploma of Financial Planning course involve?

To successfully launch your career in financial services, Monarch’s FNS50615 Diploma of Financial Planning 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 RG146 Tier 1 financial advice, and you must be issued with a Letter of Authority from an Australian Financial Services Licence Holder (AFSL). Upon receiving your FNS50615 Diploma of Financial Planning, you can give advice in various 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.

A rewarding qualification

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 FNS50615 Diploma in Financial Planning covers all the fundamentals of financial planning and is a recognised pathway to our FNS60415 Advanced Diploma of Financial Planning and also University qualifications. You can choose to enrol in either our Online or face-to-face courses. You will see our competitive prices to the right of this page.

Victorian Government Funding is available:

Check your eligibility by CLICKING HERE

Extra Benefits:

  • 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.

Course Modules

  • DFP 1 - Foundations of Financial Planning
    1. Fundamentals of the Australian economy
    2. Financial markets & participants
    3. Regulatory environment
    4. Australian licensing framework
    5. Establishing client relationships
    6. Identifying client goals and objectives
    7. Analysing client risk profile
    8. Developing financial planning strategies
    9. Presenting strategies to clients
    10. Implementation of strategies
    11. Client review process
    12. Code of ethics
    13. Introduction to taxation
    14. Introduction to social security
    15. Estate planning fundamentals
    16. Economic fundamentals
    17. Risk management within a financial services office
  • DFP 2 - Investments
    1. Key asset classes
    2. Securities – money market instruments
    3. Securities – fixed interest and bonds
    4. Securities – property
    5. Securities – shares
    6. Securities – alternative investments
    7. Risk and return
    8. Derivatives
    9. Investing in each asset class
    10. Difference between income and growth
    11. Dollar cost averaging
    12. Diversification
    13. Managed investments
    14. Index funds
    15. Fund managers
    16. Investment platforms
    17. Case studies
    18. Strategic asset allocation
    19. Tactical asset allocation
    20. Time value of money
    21. Application of investment principles
  • DFP 3 - Superannuation & Retirement Planning
    1. Superannuation in Australia
    2. Accumulation funds and defined benefit funds.
    3. Who can contribute into superannuation
    4. Identify the different kinds of contributions
    5. Taxation and superannuation earnings
    6. The superannuation guarantee
    7. The government co-contribution
    8. Super splitting and how it works
    9. Salary sacrifice and how it is applied
    10. Strategies and case studies
    11. The role and responsibility of superannuation trustees.
    12. How SMSF’s operate
    13. The mechanics of a superannuation pension
    14. Preservation age and accessing superannuation
    15. The tax applicable to superannuation benefits.
  • DFP 4 - Insurance & Risk Management
    1. The relationship between risk and insurance
    2. The basic characteristics of insurance
    3. General insurance
    4. Different types of insurance contracts
    5. Term life insurance
    6. Total and permanent disability insurance
    7. Critical illness (trauma) insurance
    8. Income protection insurance
    9. Taxation and personal insurance
    10. Identifying and calculating lump sum death and disablement requirements
    11. Insurance ownership structures
    12. Policy features, riders and add-ons
    13. Disclosure rules and obligations
  • Features

    Engaging content. Amazing support. 

    Online Study or Workshops
    Online Study (Self-Paced)
    • Easy-to-read course materials
    • Videos and Webinars
    • Telephone Support from our Accredited Trainers
    • Email Support from our Accredited Trainers
    • Online Assessments
    • Online Student Forums
    Workshops (Face-to-face)^           Online Study Support PLUS

    • Workshop contact days: 8 days
    • Facilitated by expert industry qualified trainers

    ^ Please note, the 8-day workshop time-frame is in addition to the Online study support available to all students. It is not indicative of the total course duration. Please refer to the ‘duration’ tab (below) for more information.

  • Online vs workshops

    Online Learning – any time, any place, with maximum flexibility

    Online learning allows you to start a course when and where it is convenient for you to study. It is particularly popular with stay-at-home parents, full time employees, or anyone seeking maximum flexibility because you can choose the pace you study (fast or slow).

    You are very well supported throughout your course. A dedicated Online education support team allows you to discuss your course work on a one-on-one basis with a specialist Financial Planning Trainer. Your Financial Planning Trainer is happy to contact you via phone, Skype, or email between Monday to Friday 9am to 5pm as you progress through the course, so you definitely won’t feel alone. You also have access to Online discussion forums via Monarch’s state-of-the-art learning management system providing access to an online learning community of fellow students.

    Please CLICK HERE for more information about studying Online with Monarch.

    Face-to-Face workshops – CBD training nationwide

    We offer intimate ‘small class room’ training (i.e. no more than 15 students per trainer) at our state-of-the-art training facilities just minutes from the CBD in all major States. All  training materials are included in our prices.

    Workshop interest varies across locations and times of the year. We would be pleased to record your interest in any of our face-to-face courses and will let you know as soon as the course is confirmed to proceed.

    Your office

    Monarch Institute provides onsite training for group instruction (minimum 6 staff). Please call us or email us, if you represent a company or organisation with more than 6 staff that require face-to-face workshops conducted at your office.

  • Government funding

    We offer Government subsidised AND Australia-wide standard fee places. As a National training provider with training venues in Melbourne, Sydney, Brisbane, Perth and Adelaide, the majority of our students are NOT eligible for additional Government Funding if they live outside the State of Victoria. Please know, Monarch trains more students outside of Victoria than within, and provides fantastic training to students across every State of Australia, all at great prices! Please see our competitive course prices to the right of this page – you will see they are currently discounted. Please don’t hesitate to contact our friendly course consultants if you have any questions on 1300 738 955.

    If you live in Victoria, Monarch has Government funded placed for 2016.

    To see if you are eligible for a Government Funded place, please CLICK HERE to see the criteria or contact one of our friendly course consultants on 1300 738 955 to learn more.

  • Pricing

     FNS50615 Diploma in Financial Planning – Detailed Pricing

    You can choose to enrol in the FULL FNS50615 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 in Financial Planning.

    Diploma units Online (self paced)
    Education
    Face to Face
    (workshops)^
    DFP1 Foundations of Financial Planning $475 $1,000
    DFP2 Investments $475 $1,000
    DFP3 Superannuation & Retirement Planning $475 $1,000
    DFP4 Insurance & Risk Management $475 $1,000
    FULL Diploma
    Enrol in the FULL Diploma and save!!
    $1,425 $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 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 Framework (AQF). To successfully complete the FNS50615 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.

  • Duration

    Is there a maximum course completion time?

    Yes – you have up to 2 years to complete the qualification, and many complete it in less time. 

    We find our students complete the FNS50615 Diploma of Financial Planning in varying time frames. It really does depend on your life situation, and time availability. There is also a requirement that you complete each module within 6 months (i.e. 4 modules times 6 months = 2 years maximum).

    Is there a minimum course completion time?

    No – there is no minimum course time-frame. 

    Students can complete the qualification as quickly as they choose.

    What is the average course completion time-frame?

    Volume of learning: We have found students that are genuinely motivated to progress through the course are able to complete the full course in less than 12 months. Other students take up to 2 years. The key factors that influence course completion is a student’s experience, time availability and work rate.

  • Accreditation

    Monarch Institute’s FNS50615 Diploma of Financial Planning is Government accredited. The qualification has National recognition under the Australian Qualifications Framework (AQF) meaning it can be used as a pathway to a university qualification, nationwide. Monarch Institute’s FNS50615 Diploma of Financial Planning course is ASIC compliant, having been approved by ASIC authorised assessors in meeting ASIC Regulatory Guide 146 (known as RG146) and is listed on the ASIC Training Register.

    To be awarded this qualification, 21 units of competency are required. You will be 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
    • Securities
    • Derivatives

    The units of competency* listed below are packaged into 4 modules:

    (1 – Foundations, 2 – Investments, 3 – Superannuation, 4 – Insurance):

    National Code  Unit Title
    Module 1 Foundations of Financial Planning
    FNSFPL501 Comply with financial planning practice ethical and operational guidelines and regulations
    FNSFPL505 Review financial plans and provide ongoing service
    FNSIAD501 Provide appropriate services, advice and products to clients
    FNSCUS505 Determine client requirements and expectations
    FNSCUS506 Record and implement client instructions
    Module 2 Investments
    FNSFPL506 Determine client financial requirements and expectations
    FNSINC401 Apply principles of professional practice to work in the financial services industry
    BSBITU402 Develop and use complex spreadsheets
    FNSASICT503 Provide advice in Managed Investments
    FNSASICW503 Provide advice in Securities
    FNSASICV503 Provide advice in Derivatives
    FNSFMK502 Analyse financial market products for clients
    FNSFMK503 Advise clients on financial risk
    FNSINC501 Conduct product research to support recommendations
    Module 3 Superannuation & Retirement Planning
    FNSFPL502 Conduct financial planning analysis and research
    FNSFPL503 Develop and prepare financial plan
    FNSASICU503 Provide advice in Superannuation
    Module 4 Insurance & Risk Management 
    FNSASICX503 Provide advice in Life Insurance
    FNSFPL504 Implement financial plan
    FNSASICZ503 Provide advice in Financial Planning
    FNSASICM503 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 added into an expanded Module 3 – Superannuation & Retirement Planning.

    National code Unit Title (RG146 SMSF Accreditation)
    FNSSMS501 Invest self-managed superannuation funds assets
    FNSSMS505 Support trustee in the selection and performance monitoring of outsourced services
    FNSSMS601 Provide advice in self-managed superannuation funds
    FNSSMS602 Apply taxation requirements when advising in self-managed superannuation funds
    FNSSMS603 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.

     

  • Assessments

    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
    • Workplace scenarios
    • Projects

    Check your English and Maths ability by CLICKING HERE

  • Career opportunties

    Financial planning industry careers

    Any person who provides financial advice must have an industry specific accreditation (known as RG146 certification). Completing the Monarch Institute FNS50615 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 “Accreditation” tab on this page.

    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.

    What job roles exist?

    • Financial planner/adviser
    • Associate financial planner/adviser (i.e. a junior)
    • Para-planner
    • Financial Planning practice manager
    • Compliance officer at a financial planning firm/AFSL
    • Call center adviser for an Insurance provider
    • Call center adviser for a Superannuation provider
    • Call center adviser for an Investment Fund Management provider
    • Call center adviser for an Investment platform provider
    • Back-office superannuation operations officer
    • Back-office insurance operations officer
    • Back-office fund management operations officer
    • Back-office investment platform operations officer
    • Investment corporate actions support officer
  • Study pathways

    Will previous study and experience 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 Diploma of Financial Planning course. This may be through formal or informal training and can result in credits towards your qualification. More information can be found in Monarch’s Student Information Guide.

    Future education pathways

    After successfully completing the FNS50615 Diploma of Financial Planning, you are eligible to enrol in Monarch’s FNS60415 Advanced Diploma of Financial Planning.