Master of Financial Planning

2023 Deakin University Handbook

Note: You are seeing the 2023 view of this course information. These details may no longer be current. [Go to the current version]

Year	2023 course information
Award granted	Master of Financial Planning
Course Map	This course map is for new students commencing from Trimester 1 2023. This course map is for new students commencing from Trimester 2 2023. This course map is for new students commencing from Trimester 3 2023. Course maps for commencement in previous years are available on the Course Maps webpage or please contact a Student Adviser in Student Central.
Campus	Offered at Burwood (Melbourne)
Online	Yes
Duration	1.5 years full-time or part-time equivalent
Deakin course code	M769
Approval status	This course is approved by the University under the Higher Education Standards Framework.
Australian Qualifications Framework (AQF) recognition	The award conferred upon completion is recognised in the Australian Qualifications Framework at Level 9.
Please note: This course is only available for part-time study in Trimester 3

Course sub-headings

Course overview

Designed to meet the education requirements of Australia’s new financial planning standards body, the Master of Financial Planning will provide you with innovative and applied financial planning education solutions by combining ethical decision-making with modern financial advice strategies.

Ready to secure your future and build a successful career with a degree that meets new requirements in a rapidly evolving industry?

Recent changes to the Australian finance services industry require financial planners to meet new education standards set by the Financial Adviser Standards (FAS). What does this mean for current and aspiring financial planners? If you want to provide financial advice beyond 2026, you'll need to complete a FAS-approved course like Deakin's Master of Financial Planning.

More than just a pathway towards becoming a registered financial planner, this course will enable you to take your financial planning skills and knowledge to new heights. As a graduate, you'll be empowered to provide better solutions for your clients and enhance your employability skills and career opportunities. Apply, analyse and relate financial planning principles throughout projects and case studies that simulate real industry scenarios, better preparing you for tomorrow’s financial planning challenges.You’ll be introduced to a range of discipline areas including investments and portfolio theory, superannuation and retirement planning, insurance, estate planning. ethics, financial advice regulation and behavioural finance.

Learn how to apply advanced principles to meet client needs and the technical skills required to utilise the latest digital tools. Importantly, the course also places a strong emphasis on the professional responsibilities of the modern financial planner, both in an ethical and compliance sense. Industry reforms have created an increased demand for ethical decision-makers, putting Deakin graduates in a strong position to stand out from the pack.

Better still, you’ll be learning alongside industry-active academics who are leaders in the field. Build relationships with your teachers. Get constructive feedback on industry expectations. Take your career forward.

Indicative student workload

As a student in the Faculty of Business and Law, you can expect to participate in a range of teaching activities each week. This could include classes, seminars, practicals and online interaction. You can refer to the individual unit details in the course structure for more information. You will also need to study and complete assessment tasks in your own time.

Professional recognition

AACSB and EQUIS Accredited

Deakin Business School is in the top 1% of business schools globally by holding both AACSB and EQUIS accreditations. These prestigious accreditations are awarded to business schools that meet strict standards of quality, academic and professional excellence, and demonstrate a commitment to ongoing improvement and innovation in their courses, ensuring our graduates are employable worldwide

FAS approved Course

The Master of Financial Planning is a FAS-approved course. Graduates will satisfy the education standards prescribed by FAS to be able to provide financial advice in Australia, subject to meeting other registration requirements prescribed by FAS (including completion of a Professional Year for Provisional Relevant Providers and passing a National Adviser Exam).

Professional Designation programs

Deakin University has entered into partnerships with a number of leading organisations to embed their professional designation program into the Master of Financial Planning course. Students may be eligible to enrol externally through the following professional designation programs as their elective unit into the Master of Financial Planning:

Financial Planning Association (FPA)

Students have the opportunity to complete the CFP® capstone unit (CFPC) as their elective unit and satisfy the education requirements to become a CFP®

Self-Managed Superannuation Fund Association (SMSF)

Students have the opportunity to complete the SMSF Specialist Advisor (SSA™) program as their elective unit and satisfy the education requirements to be an Accredited SMSF Association Specialist Adviser.

Aged Care Steps (ACS)

Students have the opportunity to complete the Accredited Aged Care Professional program as their elective unit.

TAL Risk Academy

Students completing specified modules and assessment tasks through the TAL Risk Academy will be entitled to a credit within the Master of Financial Planning.

Professional pathways

The Master of Financial Planning provides advanced standing into the Fellow Chartered Financial Practitioner (FChFP) provided by the Association of Financial Advisers (AFA) and the CFP® Certification Program offered by the Financial Planning Association.

Society of Trust and Estate Practitioners (STEP)

Students who successfully complete MAA747 Managing Intergenerational Wealth (previously titled 'Administration of Trusts and Estates') as their elective unit with the Master of Financial Planning will meet the Australian educational requirements for membership of the Society of Trust and Estate Practitioners (STEP).

Practitioners Board (TPB)

Completion of Principles of Income Tax Law and Business Law units approved by the Tax Practitioners Board (TPB), will meet the education requirements of the Tax Agent Services Act (TASA).

_{Note: Students should consult with the Financial Planning Association or the Association of Financial Advisers and their websites for confirmation of professional recognition and to ensure that they are not required to undertake additional units.}

Career opportunities

From 1 January 2019, FAS’ new education standards come into place and, by 1 January 2026, all financial planners will need an approved qualification. These reforms have created an increased demand for registered financial planners with a high-level understanding of what it means to provide responsible advice.

The Master of Financial Planning is approved by FAS, ensuring Deakin students graduate with the right qualification and skills to take advantage of this demand.

Whether you’re currently working in the industry or looking to move into a financial planning role, you’ll be prepared to excel in a variety of positions, including:

financial adviser
insurance adviser
business development manager
superannuation consultant
portfolio analyst
investment banker
paraplanner
claims administrator
compliance manager
risk adviser

Participation requirements

Units in this course may have participation requirements that include compulsory placements, work-based training, community-based learning or collaborative research training arrangements.

Placement can occur at any time, including during the standard holiday breaks listed here: https://www.deakin.edu.au/courses/key-dates.

Reasonable adjustments to participation and other course requirements will be made for students with a disability. More information available at Disability support services.

Mandatory student checks

Units which contain work integrated learning, a community placement or interaction with the community may require a police check, working with children check or other check. These requirements will be detailed in unit guides upon enrolment.

Alternative exits

Graduate Certificate of Financial Planning (M569)
Graduate Diploma of Financial Planning (M669)

Fees and charges

Fees and charges vary depending on your course, the type of fee place you hold, your commencement year, the units you choose and your study load.

Tuition fees increase at the beginning of each calendar year and all fees quoted are in Australian dollars ($AUD). Tuition fees do not include textbooks, computer equipment or software, other equipment or costs such as mandatory checks, travel and stationery.

Use the Fee estimator to see course and unit fees applicable to your course and type of place. Further information regarding tuition fees, other fees and charges, invoice due dates, withdrawal dates, payment methods is available on our Current students fees website.

Course Learning Outcomes

Graduate Learning Outcome	Course Learning Outcome
Discipline specific knowledge and capabilities	Apply an advanced and integrated knowledge about the financial planning development process for clients requiring financial planning advice of varying degrees of complexity and contexts
Communication	Demonstrate advanced interpersonal and networking skills to communicate persuasively with clients to gather and interpret personal data and transmit knowledge to clients through the preparation and presentation of financial plans including financial goal achievement and risk minimisation
Digital literacy	Select and apply appropriate digital technology to find, use, manage and persuasively disseminate complex wealth creation and risk minimisation knowledge and ideas to both clients and professional colleagues
Critical thinking	Systematically and critically analyse, synthesise, evaluate and transform a range of complex information on wealth creation and risk minimisation to create personalised and contextualised financial plans for clients
Problem solving	With creativity and autonomy, systematically develop strategies for wealth creation and risk minimisation for individuals by critically evaluating methods of inquiry, action planning and/or problem solving thereby generating innovative and contextualised solutions for financial goal achievement
Self-management	Demonstrate advanced skills to work and learn independently, for taking responsibility for continuing professional development, personal actions and to critically reflect and analyse own personal motivations, aspirations and actions
Teamwork	Lead and be accountable for the strategic management of group or team learning and outputs, demonstrating initiative in professional contexts and the ability to actively facilitate a positive team environment and to be open to working with and learning from others from different disciplines and backgrounds
Global citizenship	Engage ethically, professionally and productively in work, professional and the global contexts including with diverse communities and cultures, in a manner reflective of a critical understanding of ethical principles, a systematic knowledge of professional codes of conduct and an understanding of various world views and the complexity of elements important to members of other cultures

Course rules

The Master of Financial Planning is typically a 12 credit point course but this is dependent on your entry point. The exact number of credit points you study depends on how much credit you receive as recognition of prior learning (RPL) - your professional experience and previous qualifications - which can save you time and money, but may be limited by the FAS education standards.

To complete the Master of Financial Planning, students must attain a total of 12 credit points consisting of 11 credit points of core units and 1 credit points of elective units chosen from a specified list, plus completion of the compulsory 0-credit point module, MAI010 Academic Integrity Module. Most units (think of units as 'subjects') are equal to 1 credit point.

Students are introduced to research tools and techniques in core units of the course where they learn analytic skills and the practical application of those skills in professional contexts. They must also complete advanced level units and a capstone unit that require them to integrate the skills learnt over their course of study and produce applied pieces of research with reference to prevailing literature.
Students are required to meet the University’s academic progress and conduct requirements.

Course structure

Compulsory 0-credit point module

To be completed in the first trimester of study:-

MAI010

Academic Integrity Module (0 credit points)

Core units

MAI700/MAA700

Estate Planning and Risk Management Strategies ^1*

MAA719

Superannuation and Retirement Planning ¹

MAI728/MAA728

Financial Behaviour and Decision Making ^*

MAA745

Financial Planning and Economic Fundamentals ¹

MAI769/MAA769

Ethics for Financial Services ^1*

MAF707

Investments and Portfolio Management ¹

MLC703

Principles of Income Tax Law ¹

MLC707

Business Law

MLI714/MLC714

Financial Advice Regulation ^1*

MAA727

Financial Planning Development ^{1,2, (Capstone)}

Core Capstone Unit:

MAA753

Professional Research and Analysis ^(Capstone)

Elective units

Plus a 1 credit point elective unit from:

MAA747

Managing Intergenerational Wealth ³

MAF702

Financial Markets and Digital Innovations

MMP713

Property and Real Estate Context

MPA701

Accounting

MWL718

Internship

Or another postgraduate unit with prior written approval of the Course Director

Or other approved professional designation programs^ with the prior written approval of the Course Director

^Professional designation programs:

Aged Care Professional™
Certified Financial Planner® (CFP)
SMSF Specialist Advisor™(SSA™)

¹Required prior to enrolling in the professional designation programs

²FAS approved unit (Financial Advice Capstone subject)

³Required as elective unit to meet the Australian educational requirements of the Society of Trust and Estate Practitioners (STEP).

^*MAI and MLI codes denote Intensive versions of the units.

Work experience

This course provides students the opportunity to complete one or more elective work integrated learning units.
More information: WIL Programs

Other course information

Course duration - additional information
Course duration may be affected by delays in completing course requirements, such as accessing or completing work placements.

Further information

Student Central can help you with course planning, choosing the right units and explaining course rules and requirements.

Contact Student Central

Research and research-related study

This course includes 1 credit point equivalent research-related study [MAA753 Professional Research and Analysis] in addition to associated learning embedded across a number of units where student achievement is demonstrated in specific assessment tasks.