Course Title: Provide advice in superannuation

Part A: Course Overview

Program: C5343 Diploma of Financial Planning

Course Title: Provide advice in superannuation

Portfolio: BUS Portfolio Office

Nominal Hours: 50

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

Term1 2016,
Term2 2016,
Term1 2017,
Term2 2017,
Term1 2018,
Term2 2018,
Term1 2019

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 analyse client needs and provide advice ethically and professionally on superannuation in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform a specialist advisory role in superannuation.  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 ASIC for specific guidance on requirements.                                      

Pre-requisite Courses and Assumed Knowledge and Capabilities


National Competency Codes and Titles

National Element Code & Title:

FNSASICU503 Provide advice in superannuation


1. Establish relationship with client and identify client’s objectives, needs and financial situation

2. Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions

3. Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction

4. Agree to plan, policy or transaction and complete documentation

5. Provide ongoing service where requested by client

Learning Outcomes

Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • interpret and comply with industry regulations and codes of practice
  • analyse client’s needs, financial situation and risk profile, and prepare appropriate strategies or solutions relating to superannuation
  • provide accurate and ethical advice on superannuation products and services
  • implement the plan, policy or transaction once agreed by the client and complete documentation accurately.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must satisfy generic, core and specialist knowledge requirements relevant to the products and activities in which advice is given.

Generic knowledge     

  • analyse and provide an overview of the economic environment including:
    • characteristics and impact of economic and business cycles
    • interest rates and exchange rates
    • inflation
    • government monetary and fiscal policy
  • analyse and provide a detailed explanation of the operation of financial markets including:
    • roles played by intermediaries and issuers
    • structure and interrelationships within the financial markets
    • interrelationship between industry sectors
  • outline financial products, including:
    • concept of a financial product – general definition, and specific inclusions and exclusions
    • types of financial investment products
    • types of financial risk products.

Specialist knowledge 

  • outline the operation and management of the superannuation industry including:
    • characteristics and structure of a superannuation product
    • roles played by intermediaries and issuers
    • types of superannuation products
    • fee structures including administration and management costs
    • types of contribution
    • annuities and pensions, allocated pensions and income stream products
    • associated risks
    • trustees appointment, duties and responsibilities
    • structure of superannuation plans management and administration of superannuation products
    • preservation rules
    • investment strategies within superannuation funds including investment concepts and strategies
    • restrictions on investment strategies
    • outline taxation issues in relation to superannuation financial products and markets in which they operate covering:
    • impact on investment earnings
    • employer and employee contributions
    • benefit payments and expenses
    • tax deductions
    • capital gains tax treatment
    • roll-overs
    • reasonable benefit limits
    • superannuation surcharge
    • social security pension eligibility
    • retirement planning
    • death benefits
    • franking credits
  • discuss the legal environment including disclosure and compliance covering:
    • role of the representative or adviser
    • relevant legal principles relating to the Corporations Act, Australian Securities and Investments Commission (ASIC) Act, Superannuation Industry (Supervision) Act, Privacy Amendment (Private Sector) Act, Financial Services Reform Act (FSRA) and Competition and Consumer Act
    • relationship between ethics and regulatory requirements including good faith, utmost good faith, full disclosure of remuneration and fees and any other conflicts of interest which may influence the adviser’s recommendation
    • relevant industry standards and codes of conduct
    • regulators’ guidelines including ASIC Regulatory Guide (RG)146 requirements
    • complaints resolution procedures (external and internal)
    • trustee rules
    • explain theories of investment, portfolio management and management of investment and risk:
    • investment concepts
    • investment strategies
    • identification of types of risk
    • client risk profile
  • outline key requirements of the following:
    • Retirement Savings Account Act (RSA)
    • Superannuation Industry (Supervision) Act (SIS)
    • Superannuation Guarantee Act and other relevant legislation
    • Superannuation Contribution Tax (Assessment and Collection) Act.

 Assessment Conditions

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

  • office equipment, technology, software and consumables
  • superannuation product information. 

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.