Diploma of Financial Planning

This qualification is for financial planners who provide a range of standard financial planning services and individuals providing specialist para-planning services. This is a licensed occupation and core units in this qualification meet Australian Securities and Investments Commission (ASIC) requirements for Tier 1 status. Specific product units for licensing are included in the electives.


Packaging Rules

15 units must be achieved:

10 core units

plus5 elective units

the required elective units of competency can be selected from the elective bank below or from units aligned to other Diploma qualifications in the FNS10 Financial Services Training Package

a maximum of 2 electives may be selected from units aligned to Certificate IV qualifications in the FNS10 Financial Services Training Package

a maximum of 2 of the required elective units of competency may be selected from units aligned to Advanced Diploma qualifications in the FNS10 Financial Services Training Package

One (1) elective may be selected from Certificate IV, Diploma or Advanced Diploma qualifications in another endorsed Training Package or accredited course.

Elective units must be relevant to the work outcome, local industry requirements and the qualification level.

Units selected from other Training Packages or accredited courses must not duplicate units selected from or available within the FNS10 Financial Services or BSB07 Business Services Training Packages.

Core units of competency:

add topic BSBITU402A Develop and use complex spreadsheets

add topic BSBOHS303B Contribute to OHS hazard identification and risk assessment

add topic FNSASICZ503A Provide advice in Financial Planning

add topic FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations

add topic FNSFPL502A Conduct financial planning analysis and research

add topic FNSFPL503A Develop and prepare financial plan

add topic FNSFPL504A Implement financial plan

add topic FNSFPL505A Review financial plans and provide ongoing service

add topic FNSFPL506A Determine client requirements and expectations

add topic FNSINC401A Apply principles of professional practice to work in the financial services industry

Elective units of competency:

add topic BSBCUS501B Manage quality customer service

add topic BSBINM401A Implement workplace information system

add topic BSBSMB405A Monitor and manage small business operations

add topic BSBSUS501A Develop workplace policy and procedures for sustainability

add topic FNSASIC301C Establish client relationship and analyse needs

add topic FNSASIC302C Develop, present and negotiate client solutions

add topic FNSASICQ503A Provide advice in First Home Saver Market Linked Accounts

add topic FNSASICU503A Provide advice in Superannuation

add topic FNSASICX503A Provide advice in Life Insurance

add topic FNSASICY503A Provide advice in Insurance Broking

add topic FNSFPL507A Provide financial planning advice

add topic FNSFPL508A Conduct complex financial planning research*

add topic FNSIAD501A Provide appropriate services, advice and products to clients

add topic FNSCUS501A Develop and nurture relationships with clients, other professionals and third party referrers

add topic FNSCUS502A Monitor client requirements

add topic FNSCUS503A Review business performance

add topic FNSINC501A Conduct product research to support recommendations

Note 1: Para-planners must select the unit marked '*'

Note 2: Certain elective units may be required to progress to membership of professional organisations or further study in higher education programs. Learners should establish such requirements or credit arrangements where they apply in order to make appropriate choices.


    Qualification Pathway

    Preferred pathways for candidates entering this qualification include:

    FNS40710 Certificate IV in Financial Practice Support

    and other sector qualifications involving providing financial product and services advice at ASIC Tier 2 level.

    The primary pathway from this qualification is employment as a financial para-planner providing advice to clients on financial products and services within the ASIC licensing framework for the sector.

    A further learning pathway utilising qualifications such as FNS60410 Advanced Diploma of Financial Planning would support career progression.

Entry Requirements

Not applicable.

Licensing Information

Not applicable.

Employability Skills


Employability Skill

Industry/enterprise requirements for this qualification include:


assisting clients to identify financial goals and priorities and assessing their current financial situation

developing and writing reports to specifications

interpreting clients' requirements and tailoring financial plan to meet their needs

negotiating solutions with clients

questioning, listening and clarifying client's requirements

using excellent customer service skills and maintaining an ongoing relationship with clients


allocating personnel for ongoing service tasks

delegating roles and responsibilities to team members

outsourcing tasks to internal and external specialists as required

Problem solving

checking the accuracy of calculations for fees and charges

conducting trend and risk analysis including product modelling

estimating, forecasting and conducting competitive comparisons

identifying and resolving inconsistencies in information

identifying OHS hazards and maintaining risk control

performing calculations and developing a risk profile for individual clients

testing strategic assumptions

using modelling tools to test assumptions against a variety of scenarios

Initiative and enterprise

developing administrative processes to implement financial plans

identifying ongoing service options for clients and confirming these with clients

identifying risk and managing it

proactively anticipating customer requirements and recommending products

researching alternative options for clients' needs

Planning and organising

ensuring the integrity of systems, records and reporting procedures are maintained

implementing financial plans according to agreed actions, time schedule and agreed priorities

undertaking research and developing solutions such as financial plans


planning own work schedule and monitoring and evaluating own work performance

taking responsibility as required by work role and ensuring all organisational policies and procedures are followed

understanding and acting upon compliance implications

working ethically and complying with industry professional code of practice and legislative requirements


adapting to change in technology and/or work practices

defining own work role and working within defined responsibilities

developing and maintaining personal competency

following workplace safety procedures

identifying opportunities for professional development

maintaining currency of knowledge of financial products and services

seeking expert advice as required


conducting web searches, using corporate templates and financial planning software

operating computers and using word processing, spreadsheet and database skills to produce workplace documentation

using business technology to access, organise and monitor information

using research data devices and telecommunication devices and equipment