What Will I Study on a Master of Financial Planning?

A master of financial planning is designed to provide you with the knowledge and skills to excel as a financial planner. But what exactly will you study? Finding the answer to this question can be tricky, but it doesn’t need to be! We are here with the answers you need, including a detailed look at what you will study on a master of Financial Planning. 

What is a master of financial planning?

Let’s begin with a quick recap for those who need it! A master of financial planning is a post graduate course designed to teach you about the ethical and professional capacities needed to be a successful financial planner or adviser. The course will deepen your current knowledge and help develop the advanced skills needed to adapt and succeed as the industry changes. 

A master of financial planning is offered full-time, part-time, and online, allowing you to find the perfect study mode and method for you. Typically, it will take two years to complete the course, and you can enjoy roles as a risk adviser, investment banker, financial adviser, or planner. 

What will I study on a master of Financial Planning?

What you will study on a master of Financial Planning will vary depending on the course provider you choose. Typically, there is overlapping content, so you don’t have to worry about missing out on any key information. A master’s degree in financial planning is usually split into twelve units. When studying online or part-time, you will work through one unit at a time, and will see unit titles and content similar to those outlined below: 

Taxation law of Australia

Here, you will learn about the Australian Tax Law and the problems that you will need to determine and solve when helping clients with their taxes. You will use case studies to understand tax avoidance legislation and how you should address it while working. You will also explore the consequences of the legislation and how to handle difficult circumstances while working. 

Superannuation and retirement wealth planning

This unit focuses on retirement planning trends and superannuation. You will critically review these and compare superannuation and self-managed funds with non superannuation options. The unit gives you a chance to role-play providing retirement planning advice, allowing you to gain technical knowledge and experience on superannuation, building retirement capital, social security, income stream options, and related tax legislation. The knowledge you gain can be applied to client scenarios, and you have the chance to use financial planning software tools, further preparing you for your new career. 

Risk management and estate planning

Here you will learn about risk management and the methodologies behind the protection and distribution of wealth. The unit will teach you about insurance policies and how to analyse them and risk assessment products. This analysis helps you match products to a variety of clients, providing them with the right product for their situation. 

You will also learn about the laws relevant to estate planning and the skills needed to help clients manage their risks and carry out estate planning. 

Professionalism and ethics

This unit looks at the ethical and professional capacities of financial planning advisers. The goal is to provide you with an understanding of the code of ethics you need to follow and use reflective practice exercises to understand the importance of professional conduct and your ethics.

Principle of financial and investment planning

This unit looks at higher-order responsibilities and the legislative framework governing financial planning advice. You will look at these principles and functions in detail, learning about investing in financial markets and how to look at them in the context of assessing client investment risk and defending client interests. The unit will also teach you how to create a multi-asset portfolio and the interpersonal skills needed to support your clients. 

Financial plan construction and client management

Here you will build on prior knowledge of the financial planning process and deepen it to help you learn more about presenting financial plans to clients, planning and constructing advice statements, and conducting client interviews. There will be a focus on strengthening your communication, presentation, and written skills, developing them to provide the best service to your clients. 

Financial advice corporation and commercial law

This unit focuses on the Australian legal system, its commercial law, contract, and corporate law. Covering these topics allows you to learn about the laws that apply to you as a financial planning advisor. You will learn how to negotiate commercial law matters and how you can interact with clients who infringe on these laws. 

Corporate finance

Here, you will learn how organisations make financing and investment decisions. You will learn how to apply valuation methods and theories to real-world settings, appreciating the limitations of tools in practical settings, and learning more about capital budgeting, discounted cash flow, investment decision rules, and more.

Business consulting

Business consulting units teach you how to successfully consult for businesses. You will learn about finance, accounting, marketing, organisational change management, human resources, strategy, and data analysis, and how they can impact businesses you will consult on. The unit teaches you how to work as an external or internal consultant, developing skills to assess a business and make recommendations. 

Behavioural finance for financial advisors

The unit teaches you about behavioural finance theory and how it relates to your practice as a financial planner. The unit teaches you about communication techniques, finance theories, and how to negotiate client uncertainties to ensure good relations with your clients. The unit also teaches you about the psychology of client engagement and behavioural finance to help develop interpersonal skills that can help you manage conflict better and empower client engagement. 

Art and practice of leadership

Here you will learn about leadership capacity, helping you to move into leadership roles in your career. You will learn about the challenges leaders face today and the best way to overcome them, along with learning how to lead a group of employees or a business. 

Accounting and financial management

This unit teaches you about financial information and how to use it. You will look at its composition and the meaning of financial statements. It is the perfect unit to prepare you for an accounting role, teaching you about accounting reports made for both internal and external business uses. 

Find your master of Financial Planning today

A master of financial planning will help you progress in your career, providing you with the necessary skills and experience. When choosing your master of Financial Planning, consider Victoria University as your course provider. They offer professional experts to support you and flexible study options that ensure you get the support and qualifications you need. Contact Victoria University to learn more about their master of Financial Planning.