C5343 - Diploma of Financial Planning

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Plan: C5343FLEX - Diploma of Financial Planning
Campus: City Campus

Program delivery and structure

Approach to learning and assessment
Work integrated learning
Program structure
Program transition plan

Approach to learning and assessment

Successful completion of this program requires you to demonstrate that you are competent in 17 units of competency as outlined in the program structure: 9 core units plus 8 elective units.

You will be required to undertake 954 hours of supervised learning activities.  In addition to these activities it is recommended that you allow approximately 6 hours per week of your own time for self-directed study including reading, research, preparation for online interaction and activities, assessment completion etc.

Delivery and Learning

The program is off campus, offered via a self-paced approach and fully online.  Learning will ensure that units are contextualised to industry applications wherever possible. You will experience a variety of approaches to learning and teaching.

The program offers proactive mentor support via phone and email throughout the program duration.  It includes a range of learning activities to suit a variety of learning styles and to allow you to work through as much or as little of the learning materials before attempting your assessment tasks.

In addition to developing skills and knowledge for a particular job, this program also aims to help you to develop broad work skills, known as foundation skills.

You are expected to undertake personal research and reading of relevant industry articles, magazines and government regulatory requirements.   Where you have the opportunity to do so, you are encouraged to apply skill elements in your actual workplace.

For learning and assessment purposes some units of competency have been grouped into clusters as listed below:

Cluster NameUnits
Overview of financial Services industryBAFI5212C Comply with financial planning practice ethical and operational guidelines and regulations (FNSFPL501)
EMPL7068C Apply principles of professional practice to work in the financial services industry (FNSINC401)
Manage client relationshipsBAFI5217C Determine client financial requirements and expectations (FNSFPL506)
MKTG7918C Determine client requirements and expectations (FNSCUS505)
MKTG7919C Record and implement client instructions (FNSCUS506)
Conduct research and analysisBAFI5213C Conduct financial planning analysis and research (FNSFPL502)
BAFI5218C Provide advice in superannuation (FNSASICU503)
MKTG7921C Conduct product research to support recommendations (FNSINC501)
COSC6185C Develop and use complex spreadsheets (BSBITU402)
Financial advice

BAFI5211C Provide advice in financial planning (FNSASICZ503)
BAFI5214C Develop and prepare financial plan (FNSFPL503)
MKTG7920C Provide appropriate services, advice and products to clients (FNSIAD501)

Financial Planning Skills

BAFI5215C Implement financial plan (FNSFPL504)
BAFI5216C Review financial plans and provide ongoing service (FNSFPL505)
BAFI5219C Provide advice in life insurance (FNSASICX503)

Assessment

Assessment tasks are designed to simulate the workplace and require you to demonstrate the practical application of your knowledge. If you have already developed competency through prior experience, you may apply for Credit Transfer/RPL before the program commences or at any time during the program. Please refer to http://www1.rmit.edu.au/students/enrolment/credit

All assessment tools ensure that there are processes in place to authenticate the evidence provided. These processes include questioning and third party endorsement for RPL applicants and questioning/interviews/self-reflections. Assessment tasks will provide simulated scenarios and tasks which are equivalent to future job roles relevant to the program.

Methods of assessment of individual or clustered competencies will be dependent on individual requirements as stated in the training package. These will generally include:

  • Report outlining the key features and drivers in the financial services industry
  • Client Relationship via Role Plays
  • Providing financial advice to simulated clients

All units in the program are graded. The feature of this model is that grading occurs after competency has been demonstrated.  You will be provided with an assessment guide at the start of semester that includes a grading rubric for each unit/cluster in the program. Rubrics will be based upon the criteria of performance, including how effectively you demonstrate skills and knowledge and the relevant employability/ core skills.

Learner Support

In order to identify any learning support that individual learners may need to successfully complete the program, a customised online Language, Literacy (including digital) and Numeracy (LLN) assessment is conducted for all students prior to commencement of training. The test has been mapped to the Australian Core Skills Framework and is designed to highlight specific areas of assistance that may be required. Individualised learning support plans are then provided to students outlining the kind of support services that are available and how to access these. In addition, where cohorts of students are identified as having core skill gaps, teachers incorporate additional Language, Literacy and/or Numeracy learning activities into the delivery of the program.

If you require assistance with study skills you can access the Study and Learning Centre (SLC):  http://www1.rmit.edu.au/studyandlearningcentre

The Center offers practical advice on assignment writing and discipline-specific language and learning skills. It can also assist with specific skills you may need to succeed in this program, including any language, literacy or numeracy problems.

If you have a disability or long-term medical or mental health condition, adjustments to your study and assessment conditions are intended to ensure your academic performance is not affected. When you register with the Disability Liaison Unit (DLU) they will develop a DLU Plan for you to share with your trainers. This will include any adjustments to your study and assessment conditions that you require. More information on the services provided by DLU is available at http://www1.rmit.edu.au/browse;ID=yz2m3m7es9qw

Aboriginal and Torres Strait Islander learners can gain support and encouragement from the Ngara William Centre: http://www1.rmit.edu.au/ngarara

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Work integrated learning

RMIT University is committed to providing you with an education that strongly links formal learning with workplace experience. As a student enrolled in this RMIT University program you will be assessed on structured activities that allow you to learn, apply and demonstrate vocational competency.

The nominated WIL courses for this program are:

  • BAFI5213C Conduct financial planning analysis and research (FNSFPL502)
  • COSC6185C Develop and use complex spreadsheets (BSBITU402)
  • BAFI5218C Provide advice in superannuation (FNSASICU503)
  • MKTG7921C Conduct product research to support recommendations (FNSINC501)

This program does not have a formalised work placement. However, the assessment tasks are designed to simulate a workplace environment and require the students to demonstrate the practical application of their skills and knowledge within specific organisational contexts.

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Program Structure

Diploma of Financial Planning
 

The financial services industry stipulates that product advisors require the Diploma of Financial Planning and the additional ASIC Tier 1 product compliance modules, commonly referred to as RG146 compliance in order to satisfy minimum educational requirements.

RMIT’s delivery model for the Diploma of Financial Planning incorporates the following financial compliance RG146 specialist areas: Financial planning, Superannuation, Life Insurance and Managed Investments.

In order to meet the minimum educational requirements for RG146 in the four financial compliance specialist areas students are advised to complete all 8 (eight) elective units from the list below in the program structure . These include 2 (two) additional ASIC units that meet the specialist knowledge requirements in Life Insurance and Managed Investments.  These are:

  • BAFI5221C Provide advice in managed investments (FNSASICT503)
  • BAFI5219C Provide advice in life insurance (FNSASICX503)
 

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C5343 Courses

C5343 Core Units - Select ALL Nine (9) Courses

Course Title

Nominal Hours

Course Code

Campus

Apply principles of professional practice to work in the financial services industry (FNSINC401)30EMPL7068CCity Campus
Comply with financial planning practice ethical and operational guidelines and regulations (FNSFPL501)50BAFI5212CCity Campus
Determine client financial requirements and expectations (FNSFPL506)60BAFI5217CCity Campus
Conduct financial planning analysis and research (FNSFPL502)50BAFI5213CCity Campus
Develop and prepare financial plan (FNSFPL503)60BAFI5214CCity Campus
Develop and use complex spreadsheets (BSBITU402)50COSC6185CCity Campus
Implement financial plan (FNSFPL504)50BAFI5215CCity Campus
Review financial plans and provide ongoing service (FNSFPL505)40BAFI5216CCity Campus
Provide advice in financial planning (FNSASICZ503)50BAFI5211CCity Campus
AND
C5343 Elective Units A - Select Six (6) Courses

Course Title

Nominal Hours

Course Code

Campus

Determine client requirements and expectations (FNSCUS505)70MKTG7918CCity Campus
Record and implement client instructions (FNSCUS506)75MKTG7919CCity Campus
Provide advice in superannuation (FNSASICU503)50BAFI5218CCity Campus
Conduct complex financial planning research (FNSFPL508)50BAFI5220CCity Campus
Conduct product research to support recommendations (FNSINC501)80MKTG7921CCity Campus
Provide appropriate services, advice and products to clients (FNSIAD501)150MKTG7920CCity Campus
AND
C5343 Elective Units B - In order to meet minimum requirements for RG146 in 4 financial compliance specialist areas students are advised to complete these 2 additional ASIC units that meet knowledge requirements in Life Insurance & Managed Investments.

Course Title

Nominal Hours

Course Code

Campus

Provide advice in managed investments (FNSASICT503)50BAFI5221CCity Campus
Provide advice in life insurance (FNSASICX503)50BAFI5219CCity Campus
 

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Program transition plan

Students who have not completed C5317DIST Diploma of Financial Planning (FNS50611) qualification by 24/03/2016 will be transitioned into the new C5343FLEX Diploma of Financial Planning (FNS50615) qualification. Individual transition plans will be developed. This could involve credit transfers, RPL or enrolling in courses in the new program, as applicable.

Students will be advised of full details in a timely manner.

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