General Advice

Course Overview

General Advice explains the finanical services industry, regulatory and organisational requirements that an adviser is expected to know when providing general product advice to retail clients.

General Advice can be taken as an individual unit or in conjunction with a specialist course such as insurance (general and/or personal), superannuation, investment, derivatives or foreign exchange. Upon successful completion, you will be awarded partial recognition towards a nationally recognised qualification: the Diploma of Financial Services (Financial Planning) (DFS-C - Classroom or DFS-O - Online).

2007 Financial Services Industry Benchmarking Report

Click here to receive a copy of the 2007 Financial Services Industry Benchmarking Report

Delivery Method

• Distance Education - Start any-time, business hours telephone support with a Financial Planner, email support 7 days a week.
• This course can also be completed via Classroom: GenAdv-C - General Advice

Unit Content

Unit 1: Industry Requirements

• The financial services industry (The Finance and insurance sector, distinct markets, primary and secondary markets, efficient market, market indices and global markets)
• Education, Integrity and ethical requirements
• Industry Standards & Codes of Practice (ASIC's Role, breach of an Industry Code, Financial Planning Association)

The Economic Environment (business cycle, economic policy, Australian economic conditions and global economic factors)

Unit 2: Regulatory Requirements

• Regulatory Framework (Financial Services Reform Act, Corporations Act, ASIC Act 2001, Trade Practices Act, Life Act and Insurance Act, Privacy Amendment Act, Consumer Credit Code, Contracts Law, Trust Law, Consumer Affairs Acts)

Penalties for non-compliance (adverse outcomes for customers, criminal prosecution, regulatory intervention and civil claims)

Unit 3: Organisational Requirements

Role of the adviser (contrasting general and personal advise model)

• Reasonable basis for recommendations
• Financial Services Guide
• Fact Finder
• Limited Advice Warning
• Warning
• Statement of Advice (Fees and FPA Principles)
• Product Disclosure Statement
• Ongoing training (PS164)
• Complaints and dispute resolution

Other requirements

Unit 4: Advisory Process

7 steps of Financial Advice

• Step 1. Establish client relationship
• Step 2. Identify the client's general advice needs

Assessment

Assessment will be by way of a series of short answer questions, practical activities, tasks, role plays and simulated workplace application.

Bookings

To book your place on this program please choose your preferred method:

1.  Select Buy Now and follow the prompts - Credit Card required

2.  Call Courses Now on +612 9249 3300 and your Course Advisor will process your booking

If you would like a specific course customised to suit your individual requirements, do not hesitate to contact us or call +612 9249 3300 and discuss your specific requirements with a Training Consultant.