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Proficiency Units
New for 2025!
Whether you’re new to the profession and want to ensure you have a solid foundation to build upon, or you’re an experienced adviser looking to refresh your knowledge, the FAAA’s Proficiency Units offer a unique opportunity to enhance your expertise.
By engaging with these units, developed by the FAAA, you will acquire a solid foundation across various product classes and scenarios. This will better equip you to navigate complex client situations and provide high-quality advice that aligns with both client needs and industry standards.
Completing the Proficiency Units 1-4 (84.5 hours of CPD) can be a pathway to completing the CERTIFIED FINANCIAL PLANNER® certification. If your goal is to become a CFP professional it is recommended that you establish your eligibility before commencing study. You can do this by submitting an application in the FAAA Portal or by getting in touch with the education team.
Pricing
Each unit has four or five topics within each. The units can be purchased individually below, as can the topics within them.
For maximum savings – purchase all 4 Proficiency Units for $4,500.
Personalised study
Units can be purchased separately or as a pack of four
Professional development
Each unit is CPD accredited between 18 and 25 hours
Flexible learning
Complete in your own time up to 12 months post purchase
Self-paced assessment
Each unit is assessed by a short multiple-choice test
Which will you study first?
Proficiency Unit 1
Professionalism and Ethics
- CPD hours - 18
Unit overview
Unit 1 introduces the concepts of ethics and professionalism in the context of compliance with codes of practice, industry regulations and legislation.
The topic examines the relationship between the law, practice standards, ethical standards and compliance. It introduces a model for understanding the nature of the diverse obligations that a licensed financial planner must meet and some of the consequences of not meeting them.
Unit topics
1.1) Introduction to professionalism
1.2) Professionalism and ethics
1.3) Practitioner client relationships
1.4) Practitioner stakeholder relationships
The above topics (1.1-1.4) can be purchased individually
– click each one for the synopsis, CPD breakdown and price to purchase as an individual topic.
Proficiency Unit 2
Strategy and Risk Management
- CPD hours - 20
Unit overview
Unit 2 introduces you to strategy development which is a fundamental role of a financial planner. Strategy development is the ability to develop integrated strategies for specific clients which forms the basis for your recommendations.
The material in this unit covers five areas – strategy development, salary packaging and applied structures, risk management strategies, debt management strategies and risk management strategies for business.
Unit topics
2.1) Introduction to strategy development
2.2) Salary packaging and applied structures
2.3) Risk management strategies
2.4) Debt management strategies
2.5) Risk management strategies for business
The above topics (2.1-2.5) can be purchased individually
– click each one for the synopsis, CPD breakdown and price to purchase as an individual topic.
Proficiency Unit 3
Estate Planning and Retirement
- CPD hours - 21.5
Unit overview
Unit 3 focuses on strategy development relating to leaving the workforce. Strategy development is a fundamental role for financial planners and while superannuation and estate planning strategies should form part of your planning for all clients, we discuss in this unit the specific issues relating to clients leaving the workforce, pension and benefit strategies, and strategies for expatriate clients.
The strategies and recommendations you formulate for clients should be firmly based on the ethical and professional standards of the industry, as well as its legislation and regulations.
Unit topics
3.1) Leaving the workforce: issues and strategies
3.2) Superannuation strategies
3.3) Pension and benefit strategies
3.4) Estate planning strategies
3.5) Strategies for expatriates
The above topics (3.1-3.5) can be purchased individually
– click each one for the synopsis, CPD breakdown and price to purchase as an individual topic.
Proficiency Unit 4
Investment Strategies
- CPD hours - 25
Unit overview
Unit 4 concentrates on the development of investment strategies, which may be viewed as the final part of the financial planners role. Strategy development is a fundamental skill for financial planners. The expertise required to develop integrated strategies tailored to specific clients which align with industry ethics, professional standards, and legal regulations is integral for financial planners.
The unit provides structured learning materials and directs you to additional resources to fill any knowledge gaps. It integrates theoretical knowledge with practical application in investment strategies, and emphasises a thorough understanding of risk, return, and market theories.
Unit topics
4.1) Advice process of portfolio construction
4.2) Asset allocation and risk
4.3) Investment strategies and structures
4.4) Investment managers and products
The above topics (4.1-4.7) can be purchased individually
– click each one for the synopsis, CPD breakdown and price to purchase as an individual topic.
Pathway to CERTIFIED FINANCIAL PLANNER® Certification
Completing the FAAA Proficiency Units 1-4 can be a pathway to completing the CERTIFIED FINANCIAL PLANNER® Certification (CFP-C). If your goal is to become a CFP Professional it is recommended that you establish your eligibility before commencing study. You can do this by submitting an application in the FAAA Portal or by getting in touch with the education team.
FAQs
Who are these units suitable for?
The FAAA developed these units to support entrants in meeting the criteria to enter the CFP certification unit. However they are suitable for anyone seeking to gain an understanding of financial planning concepts and strategies.
They are designed to provide a solid foundation across various product classes and scenarios to better equip you to navigate complex client situations to help you to provide high-quality advice that aligns with both client needs and industry standards.
Completing each unit provides you with CPD, so if you have a CPD shortfall or have an interest in refreshing knowledge, these units are for you.
What support is available during my studies?
The units are self-paced on demand modules. Learning material is in the form of PDF documents for you to read online or download. The quiz questions are multiple choice and completed online through FAAA Learn. You can email queries to the FAAA education team.
How long can I access the units once purchased?
The units are available to complete until 12 months post purchase.
What platform is used to host the program content?
All of the units are hosted on FAAA Learn, our learning management system.
