Diploma of Financial Planning Online

Key Benefits

ASIC + RG146 compliant

This course meets the ASIC education requirements known as RG146. This regulatory guide outlines the knowledge and skills areas required to deliver both general and personal (Tier 1) financial advice under an Australian Financial Services Licence (AFSL). This course has been approved by ASIC authorised assessors. As of January 2019, all new financial advisers will be required to hold a FASEA approved degree. For more information, contact FASEA.

Nationally recognised

The course is nationally recognised under the Australian Qualifications Framework. You can use it as a pathway to further studies, including university degrees.

XPLAN software training

You have the option of adding XPLAN software training when studying this course. XPLAN is the financial industry’s go-to financial planning software package.

RG146 SMSF upgrade

SMSF advice is one of the fastest growing advice areas. You can add RG146 SMSF for an additional $200. That’s a $300 saving compared to taking the SMSF short course separately.

Government funded

If you live in Victoria, Monarch Institute has government funded places.

To see if you are eligible for a government funded place, please click here to see the criteria. Or get in touch with one of our friendly course consultants.

Course Accreditation

Monarch has packaged these units which contribute towards your Diploma. 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 and retirement planning
Managed investments
Securities
Derivatives
*SMSF (optional)

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 and Retirement Planning

FNSFPL502 Conduct financial-planning analysis and research
FNSFPL503 Develop and prepare financial plan
FNSASICU503 Provide advice in superannuation

Module 4

Insurance and 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

Additional information

*You need to complete Module 1 before commencing the assessments or being issued with statements of attainment for Modules 2, 3 and 4. Module 1 contains pre-requisite units that must be assessed first.

~If you choose to upgrade to obtain RG146 SMSF accreditation, the following 5 units of competency are added into an expanded Module 3 – Superannuation & Retirement Planning.

Optional additional units for Module 3 (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 Consider taxation requirements when advising in self-managed superannuation funds
FNSSMS603 Apply legislative and operational requirements to advising in self-managed superannuation funds

Course Assessments

Our sector-leading academics and course trainers have developed a course assessment framework that is uniquely designed to help you gain a deep understanding of the course modules and, importantly, give you real-world insight, knowledge and skills. Assessment formats include:

Case studies
Multiple-choice questions
Short-answer questions
Calculation questions
Roleplays – video self-recording and upload of the file

Career Opportunities

The Diploma of Financial Planning isn’t just for aspiring advisers. When you get RG146 accreditation, you open up a variety of career paths.

Key opportunities include:

Financial planner/adviser*
Associate financial planner/adviser (in a ‘junior ‘capacity)*
Para-planner
Financial planning practice manager
Compliance officer at a financial planning firm/[Australian financial services licensee] (AFSL)
Call-centre adviser for either an insurance provider, investment fund management provider, investment platform provider or superannuation 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

This RG146 qualification is a legitimate pathway towards obtaining employment opportunities within the financial services industry. Provide general advice to clients at banks, through investment platform providers, at super funds, life insurance offices, or in accounting practices. Get stuck in to the theory and numbers in investment research houses, stockbroking firms, and financial publications. Help meet the broader needs of clients in mortgage broking businesses, insurance firms, business brokerages, and real estate agencies.

* The Financial Adviser Standards and Ethics Authority (FASEA) was established in April 2017. From January 1st 2019, persons wanting to become a financial planner require a FASEA approved degree. For more information contact FASEA.

Pathways

Want to take your learning even further? The Diploma of Financial Planning will set you up for success in the Advanced Diploma of Financial Planning. With the Advanced Diploma, you’ll explore new areas of financial advice and strategies needed by clients with real, complex financial needs. You’ll also get to grips with some of the tasks and challenges you’ll face as a leader or strategist within your organisation.

Monarch has formal pathways into the University of New England (AU)’s Financial planning programs. Choose to study the Graduate Diploma of Financial Planning or the Bachelor of Commerce (Financial Planning). Find the course that’s right for you.

Entry requirements

To make sure you get the most out of training with us, the following enrolment process applies:

Once we receive your enrolment, our friendly course consultants will touch base to undertake a pre-training review to ensure the training is right for you.
For students without an equal or higher level qualification, there is a short language, literacy and numeracy quiz you complete online.

What equipment will I need?

You will need access to the following equipment to successfully complete the course:

Working computer with Microsoft Office (2009 or later)
Access to the internet either at home, work, public libraries or other locations. Internet speed must be reasonable (i.e. not dial up) in order to watch videos etc.
Access to a smart phone, video camera or web camera is required

Am I eligible for Recognition of Prior Learning or credit transfer?

Yes, we do formally recognise prior learning (RPL). In other words, we take into account relevant knowledge and skills you’ve possibly gained through previous formal or informal training, education and employment. To find out more, refer to our Student Information Handbook by clicking here, or call our friendly Course Consultants. Please note this course uses a clustered unit delivery model so please speak to a Course Consultant about how this could affect any RPL or CT granted.

Course Topics

Module 1

DFP 1 – Foundations of Financial Planning

Fundamentals of the Australian economy
Financial markets and 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

Module 2

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
Derivatives
Investing in each asset class
Difference between income and growth
Dollar-cost averaging
Diversification
Managed investments
Index funds
Fund managers
Investment platforms
Case studies
Strategic asset allocation
Tactical asset allocation
Time value of money
Application of investment principles

Module 3

DFP 3 – Superannuation & Retirement Planning

Superannuation in Australia
Accumulation funds and defined benefit funds
Who can contribute into superannuation
Identify different kinds of contributions
Taxation and superannuation earnings
Superannuation guarantee
Government co-contribution
Super splitting and how it works
Salary sacrifice and how it’s applied
Strategies and case studies
Role and responsibility of superannuation trustees
How self-managed super funds operate
Mechanics of a superannuation pension
Preservation age and accessing superannuation
Tax applicable to superannuation benefits

Module 4

DFP 4 – Insurance and Risk Management

Relationship between risk and insurance
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 and calculating lump-sum death and disablement requirements
Insurance ownership structures
Policy features, riders and add-ons
Disclosure rules and obligations

Course Duration

What is the average course completion time frame?

This course is designed to be completed within 24 months.

Students who are highly motivated and well organised can complete the full course at an accelerated pace.

The key factors that influence course completion are a student’s experience, time availability, how fast they work and how committed they are!

How it works

Study online. With a difference.

You’ll get:

Easy-to-follow course materials
The option to add on XPLAN software training
Videos and webinars
Heaps of support from your course trainers (phone, email, Skype, Zoom)
A dedicated admin team on hand to guide you
Online assessments
Student Facebook group

How does it work?

This course has been developed to give you absolute flexibility. Study on your couch, on public transport, on your break at work, out in the park – wherever and whenever you like. The best part is, with Monarch Institute, ‘online’ doesn’t mean ‘alone’. You’ll be backed by our trainers at every step along the way.

What support will I get?

Your trainer will be happy to contact you via phone, Skype, Zoom, TeamViewer, or email (Monday to Friday, 9am to 5.30pm). So you definitely won’t feel alone. You’ll also have access to our student Facebook groups, so you can discuss the material with other students. It’s a handy way to stay in touch with trainers and others in the same course.

Do you offer corporate workshops?

Yes. We’re the corporate training partner of choice for several large organisations. Our trainers can also conduct onsite training for groups of six staff or more. Corporate workshops can be scheduled for any location in Australia. Got a new satellite office with staff in need of training? Running a training retreat in an idyllic location (yes please!)? Our trainers can be there.

Corporate workshops are tailored to your organisation’s needs. Get in touch with our friendly course consultants for more information.

Course Price

Upfront payment

$1,575 (total)

The most cost-effective option. Pay up front and save 20% compared to the total payment plan. Payment options include electronic funds transfer (EFT), credit card (MasterCard or Visa), cheque or cash.

Optional: add RG146 SMSF for only $200 extra!

Payment plan

$72.69 per week, paid over 26 weeks (total $1,890)

This option is suitable for students wanting to manage their cash flow. It’s handy if you want to get started right away, but don’t have the full amount on hand. Payment must be made with MasterCard or Visa.

Optional: add $9.23 per week for RG146 SMSF.

Government funding

If you live in Victoria, Monarch Institute has government funded places.

To see if you are eligible for a government funded place, please click here to see the criteria. Or get in touch with one of our friendly course consultants.

*Fees and units are subject to change.

Meet your trainers

Industry experts and thought leaders

Helen Russo
Trainer "Together, we can change the world”
– Akiroq Brost

During my 20 years in the financial advice industry, I’ve had a number of diverse roles including corporate super at NSP Buck, workplace financial planning with private clients at MLC, and professional and business banking with Macquarie. I set up and ran an Australian Financial Services License for an accounting firm.

In 2012 I co-authored and delivered a business succession insurance training program for financial planners and accountants for the Business Risk Institute of Australia. In 2013 I established my own practice, Encompass Wealth – Financial Life Planning. We specialise in holistic life planning, focusing on the broader context of a client’s life rather than just the numbers. This means integrating clients’ values, vision and wealth.

In March 2017 I was appointed Director at CLIME Private Wealth where I use my experience, technical knowledge and coaching abilities to provide advice to baby boomers transitioning into their version of retirement.