This qualification reflects the job role of individuals working in organisations offering personal trustee services. Registered trustee services are licensed. More information and contact details for the registration authorities and industry bodies are provided in the FNS10 Information Kit available from the IBSA website.
Packaging Rules
11 units must be achieved:
7 core units
plus4 elective units.
the required elective units of competency may be selected from the elective bank below
a maximum of 2 electives may be selected from units aligned to other Diploma qualifications in the FNS10 Financial Services Training Package
one (1) elective may be selected from units aligned to Advanced Diploma qualifications in the FNS10 Financial Services Training Package
a maximum of 2 electives may be selected from units aligned to 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:
BSBINM401A Implement workplace information system
BSBOHS303B Contribute to OHS hazard identification and risk assessment
FNSCUS502A Monitor client requirements
FNSINC401A Apply principles of professional practice to work in the financial services industry
FNSPRT501A Advise clients on trust structures
FNSPRT502A Advise clients in estate planning
FNSPRT503A Allocate, assess and supervise work within the personal trustee sector
Elective units of competency:
BSBLED501A Develop a workplace learning environment
BSBMGT502B Manage people performance
BSBMGT605B Provide leadership across the organisation
BSBMKG501B Identify and evaluate marketing opportunities
BSBSUS501A Develop workplace policy and procedures for sustainability
FNSFPL506A Determine client requirements and expectations
Note: Certain elective units may be required to progress to membership of professional organisations, meet licensing requirements or articulate with defined credit into further study in FNS10 qualifications or 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:
FNS41310 Certificate IV in Personal Trust Administration
The primary pathway from this qualification is employment in personal trustee job roles performing duties such as:
advising clients on estates and trust structures
acting as a financial administrator under a guardianship order
supervising and managing teams or staff
delegating work and responsibilities as needed
working on complex types of financial plans relevant to the personal trustees sector.
An Australian Apprenticeship pathway may be possible for this qualification depending on the State or Territory training authority declaration policy.
A further learning pathway in other specialist financial services qualifications such as financial planning or higher education programs would support career progression.
Not applicable.
Not applicable.
QUALIFICATION SUMMARY | |
Employability Skill | Industry/enterprise requirements for this qualification include: |
Communication | determining, monitoring and reviewing clients' requirements developing a rapport with clients presenting complex information to the client providing ongoing service and management of client's requirements questioning, clarifying and evaluating information using excellent interpersonal, telephone and written skills using interpersonal skills to meet a client's personal needs |
Teamwork | coaching and mentoring staff to reach minimum organisational standards contributing to team cohesion and developing team plans managing workplace relationships including counselling staff as required providing feedback, support and encouragement to team members working with diverse groups and individuals |
Problem solving | analysing and synthesising information and determining levels of insurance and risk applying analytical skills to interpret complex financial statements and to calculate fees and charges collecting, comparing and contrasting data determining appropriate strategies for implementing clients' instructions exploring risk issues and tolerance levels with clients identifying clients with special needs identifying risk and fraud indicators interpreting company policy matching appropriate products to clients' needs monitoring the business environment to ensure clients' needs are still being met surveying potential risk exposure using problem solving tools and techniques |
Initiative and enterprise | determining appropriate strategies for implementing clients' instructions identifying clients with special needs matching appropriate products to clients' needs monitoring the business environment to ensure clients' needs are still being met |
Planning and organising | conducting high level research/investigation contributing to the planning process by researching and validating information preparing and documenting trust deed and estate plans processing documents and maintaining files; managing information and scheduling and coordinating competing tasks |
Self-management | managing own time, priorities and dealing with contingencies operating within codes of ethics, codes of professional conduct, legislation and regulations taking responsibility as required by work role and ensuring all organisational policies and procedures are followed |
Learning | applying learning to develop improved practices coaching and mentoring others to acquire new knowledge and skills developing and monitoring individual training plans identifying and documenting staff training needs maintaining currency of knowledge of legislation and company's products and services referring clients to internal and external professionals |
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 |