Course Title: Develop and prepare financial plan

Part A: Course Overview

Program: C5343 Diploma of Financial Planning

Course Title: Develop and prepare financial plan

Portfolio: BUS Portfolio Office

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Course Code




Learning Mode

Teaching Period(s)


City Campus


650T Vocational Business Education

Face-to-Face or Internet

Term2 2016,
Term1 2017,
Term2 2017,
Term1 2018,
Term2 2018

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email:

Course Description

This unit describes the skills and knowledge required to develop and prepare a financial plan that meets the client’s needs. It encompasses establishing plan objectives and scope, and developing strategic assumptions, strategies and a preliminary financial plan compliant with regulatory and organisational requirements.

It applies to individuals who, within their level of authority, manage relationships, apply systematic approaches and use specialised knowledge to recommend customised solutions for a diverse range of clients. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.                                   

Pre-requisite Courses and Assumed Knowledge and Capabilities


National Competency Codes and Titles

National Element Code & Title:

FNSFPL503 Develop and prepare financial plan


1. Establish plan objectives and scope

2. Develop strategic assumptions

3. Develop financial plan strategy

4. Develop preliminary financial plan

5. Ensure compliance of financial plan with regulatory and organisational requirements

6. Produce completed plan

Learning Outcomes

Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • analyse options and make justified recommendations to clients using use in-depth knowledge of the financial planning industry, industry regulations, codes of practice, financial products, financial markets and investment characteristics
  • develop a detailed financial plan that :
    • maximises the client’s outcomes and reaches client objectives
    • establishes plan objectives and scope, and develops strategic assumptions
    • complies with regulatory and organisational procedures
    • assesses impacts of taxation, social security, economic and other government policy on client investment and financial requirements.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • describe the key features of generic products available in the financial services industry
  • discuss the impact of taxation, social security, economic and other government policy on client investment and financial requirements
  • describe the key features of investment and savings vehicles, financial markets, asset classes and investment characteristics
  • identify investment risk factors and describe relationship to return expectations
  • discuss the principles of effective negotiation
  • describe the internal and external complaints and dispute resolution procedures available to clients
  • describe the key features of relevant industry codes of practice
  • outline the key ethical considerations in developing and preparing financial plans
  • outline the general impact of relevant:
    • economic, taxation and social security policy on the client’s financial planning needs
    • state and territory planning considerations on the client’s financial planning needs
  • explain the role of the financial planning adviser and financial planning practice, including compliance requirements and the disclosure of capacity
  • describe the key features of legislation and regulations affecting the financial services industry.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial planning field of work and include access to:

  • office equipment, technology, software and consumables. 

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.


Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.