Course Title: Review financial plans and provide ongoing service

Part A: Course Overview

Program: C5343 Diploma of Financial Planning

Course Title: Review financial plans and provide ongoing service

Portfolio: BUS Portfolio Office

Nominal Hours: 40

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,
Term1 2019,
Term2 2019,
Term1 2020,
Term2 2020

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 monitor the implementation and progress of financial plans and establish ongoing client service arrangements. It encompasses discussing and confirming arrangements and procedures for ongoing service with clients, establishing procedures for providing ongoing service, and undertaking or supervising review of a financial plan.

It applies to individuals, working within a team, who use specialised knowledge and managerial techniques to monitor and complete their own work and/or the work of others and to build relationships and rapport with others.

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:

FNSFPL505 Review financial plans and provide ongoing service


1. Discuss and confirm arrangements for ongoing service

2. Establish procedures for providing ongoing service

3. Undertake and/or supervise review of financial plan

Learning Outcomes

Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • effectively discuss, negotiate and confirm arrangements for review of a financial plan and ongoing service with clients
  • develop ongoing service agreements for clients who:
    • comply with relevant legislation, regulations and industry codes of conduct
    • follow organisational procedures
  • review or supervise the review of financial plans, including assessment of:
    • outcomes against changing client needs
    • impacts of taxation, social security, economic and other government policy on client investment and financial requirements
  • maintain accurate documentation of records and data relating to implementation and review.

Knowledge Evidence

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

  • outline the key features of the financial planning industry, financial products, financial markets and investment characteristics
  • outline common fees and charges associated with ongoing services
  • compare and contrast:
    • financial forecasting techniques
    • methods of presenting financial data
  • describe the key features and discuss issues relating to:
    • government financial and superannuation policy
    • relevant corporations and consumer legislation
    • relevant financial legislation
    • industry codes of practice
  • identify and outline sources of information on financial products and markets
  • discuss strategies for the ongoing review and assessment of financial plans
  • outline the key requirements relating to documenting financial plans.

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.