FNS40710 - Certificate IV in Financial Practice Support
Certificate IV in Financial Practice Support
This qualification is for individuals performing a support role to qualified financial planners and para-planners. The core units meet Tier 2 status Australian Securities and Investments Commission (ASIC) accreditation requirements for providing limited financial products advice. Conditions relating to this should be obtained from ASIC.
Subjects
Packaging Rules
11 units must be achieved:
7 core units
plus4 elective units
the required elective units of competency can be selected from the elective bank below or from units aligned to other Certificate IV qualifications in the FNS10 Financial Services Training Package
One (1) elective may be selected from units aligned to Certificate III qualifications in the FNS10 Financial Services or another endorsed Training Package or accredited course
One (1) elective may be selected from units aligned to Diploma qualifications in the FNS10 Financial Services or 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:
FNSASIC301C Establish client relationship and analyse needs *
FNSASIC302C Develop, present and negotiate client solutions *
FNSFPL401A Extract and analyse information on specified financial strategies and products
FNSFPL402A Prepare financial plans to set strategies and guidelines
FNSFPL403A Implement financial plans to predetermined guidelines
FNSFPL501A Comply with financial planning practice ethical and operational guidelines and regulations
FNSINC401A Apply principles of professional practice to work in the financial services industry
FNSFPL505A Review financial plans and provide ongoing service
FNSIAD501A Provide appropriate services, advice and products to clients **
FNSCUS505A Determine client requirements and expectations **
FNSCUS506A Record and implement client instructions **
FNSINC501A Conduct product research to support recommendations **
Note 1: Tier 2 ASIC units marked '*'
Note 2: Units marked '**' have the following four co-requisite unit requirements for ASIC Tier 1 accreditation:
FNSIAD501A Provide appropriate services, advice and products to clients
FNSCUS505A Determine client requirements and expectations
FNSCUS506A Record and implement client instructions
FNSINC501A Conduct product research to support recommendations
Pathways...
Qualification Pathway
The primary pathway from this qualification is employment in job roles where duties are determined by established organisational procedures and limited to a preset range of financial products and services.
This qualification may be suited to an Australian Apprenticeship pathway.
A further learning pathway utilising qualifications such as FNS50610 Diploma of Financial Planning is the appropriate qualification for achievement of Tier 1 Authorised Representative status and would support career progression.
Entry Requirements
Not applicable.
Licensing Information
Not applicable.
Employability Skills
QUALIFICATION SUMMARY
Employability Skill
Industry/enterprise requirements for this qualification include:
Communication
accessing professional networks
developing and writing reports to specifications
negotiating solutions with clients
preparing and presenting routine and complex correspondence in appropriate electronic formats
questioning, listening and clarifying client's requirements
using effective telephone techniques and having the ability to negotiate resolutions with clients and colleagues
Teamwork
coordinating professional development activities and seeking peer reviews
developing a rapport with clients when identifying their needs, objectives and financial situation
receiving feedback on performance
referring matters to a nominated person as required
seeking feedback on research findings
Problem solving
applying estimating, forecasting and analysis skills
checking the accuracy of calculations
collecting, comparing and contrasting data in order to create reports
conducting trend and risk analyses including product modelling
determining security protocols
identifying and resolving inconsistencies in data
identifying OHS hazards and risk control
testing strategic assumptions
Initiative and enterprise
applying referral skills
applying the learning of ergonomics to develop improved processes
continually reviewing and applying emerging industry trends to product and service knowledge
developing administrative processes to implement financial plans
researching alternative options for clients' needs
Planning and organising
developing and maintaining systems, records and reporting procedures
implementing financial plans according to a time schedule and agreed priorities
processing workplace documentation and maintaining files; managing information; scheduling and coordinating competing tasks
undertaking research and developing solutions such as financial plans
Self-management
acting as a role model for others
planning own work schedule and monitoring and evaluating own work performance
taking to management, concerns with own level of responsibility
understanding own work role and working within it
working ethically and complying with all industry codes of practice and legislative requirements
Learning
applying learning to develop improved practices
developing and maintaining professional competency
following workplace safety procedures
identifying opportunities for professional development
seeking expert advice as required using
online help for self-learning purposes
Technology
conducting web searches and using corporate templates
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