The Advanced Diploma has nine core units plus three elective units that cover the most important skills in terms of technical ability and client service.
The course topics are:
The Paraplanner
Paraplanning is about figuring out how to deliver the best strategies for the client. Paraplanners need to organise information, clarify the objectives and organise the various options available before working with the adviser to set the strategic direction.
Part of delivering advice is knowing the rules; specifically what you can do and what you definitely cannot do. Here we look at what the rules are and how to keep on top of keeping everyone happy!
In this section you’ll learn:
- What a paraplanner actually does and how they do it
- What is the process, from start to end, to get the advice to the client
- Who is involved in the process
- What you need to know as a paraplanner and how to grow professionally within the role
The Client
You’ll learn how to develop plans in a way that meets (or exceeds!) the client’s needs, and leaves you confident you’ve covered all bases.
- What does the client want and why would they want that?
- How to activate the advice and keep everyone in the loop
- How to keep everyone happy and keep them coming back for more
- How to avoid other peoples errors – how to make sure what should happen, does happen.
The Practice
Compliance doesn’t need to be something that makes you nervous or scared as a paraplanner. This module walks you through how to set up a working compliance system, including risk management procedures and resources like technology, staffing and consultancy.
It also covers how to provide effective services within the frameworks of rules, regulations and professional standards that exist for paraplanners in Australia today. You’ll learn everything from legislative and regulatory compliance, to how to work within the kinds of policies and procedures that can vary from practice to practice.
You’ll learn:
- How the financial advisory practice works, who does what and why
- Â How the practice works together to get a client and keep clients by providing excellent service and advice
Managed Funds Advice
This section is about the exact strategic process for developing a great financial plan. It’s presented so that you’ll learn to work with a variety of supervisors or intermediaries, like financial advisers, shareholders, stockbrokers, trustees, agents, or whole financial organisations.
There’s something for even experienced paraplanners to learn here, especially with coverage of relatively new legislative requirements relevant to implementation.
- What’s the risk – what could possibly go wrong
- How to manage risk – how to reduce the chances of things going wrong
- The love affair between risk and return – why they will always be together
- Investing – making money make money
- Making money make the right sort of money – Maximise returns while minimising risk
- All the paperwork that goes with it
Research Activities
One task that takes up a significant portion of a paraplanner’s efforts is product research. This means finding, exploring and understanding products (especially new products) that best fit the client’s needs and objectives. By the end of this section, you’ll know how to effectively document and present research to the relevant parties to support the recommendations within the plan.
You’ll also learn to develop unique solutions, you need to have a certain set of research skills. This module will take you through developing research parameters and requirements, finding the information, and presenting it to stakeholders in an easy-to-understand way.
We’ll cover:
- How to ask the right questions
- How to make good decisions
- Trusting what you are saying and being told
- Understanding your data
- Making assumptions and what impact they may have
- How to communicate your findings
Superannuation Advice
Ever wondered why super is so super? This section takes a deep dive into superannuation and managed investments, focusing on how to invest money in the most effective way, inside and outside of the superannuation environment.
Here we look at:
- Who, what, where, when and why of super
- Is super as super as it sounds?
- How to use super and make it work
Insurance Advice
While superannuation and managed investments can help build wealth, it’s also important to protect that wealth. That is why in addition to learning about building assets wealth, you’ll learn about risk management and insurance.
This module is about the structures available to build wealth, and how to use insurance to protect wealth.
You’ll learn:
- What you need if the wheels fall off
- How to create a plan B that works for the client
- How to insurance can be used, what it costs and how much you need.
Prepare, Present & Implement Advice
In this last section we bring it all together. You’ll learn to develop unique solutions, and how you can present them to stakeholders in an easy-to-understand way.
We cover:
- How to confirm who the client is, what they want, and what they could/should do.
- How your advice is presented/delivered to the client.
- When the client is happy, how to convert that advice into action and implement the advice.
