RG146 Financial Planning Courses

RG146 Training Courses focuses on all finance related training courses that contribute to RG146 Compliance such as Financial Planning Courses, the Diploma of Financial Services and the Certificate IV in Financial Services.

These courses are used in a wide variety of industry jobs that relate in some way to the provision of advice to retail customers, such as Financial Planners and Advisors, Stockbrokers, Mortgage brokers, Real Estate advisors and Accountants who offer financial advice.

RG146

What is RG146? ASIC (the Australian Securities and Investment Commission), Australia’s Financial Services industry regulatory body, has a set of minimum training standards that any person wishing to work in the Financial Services industry (as a Financial Advisor or Financial Planner for example) must meet. These standards are outlined in the RG146 (Regulatory Guideline 146) document that is published and managed by ASIC.

RG146 Training

Who needs RG146 training? In short, any person who provides any type of recommendation or advice of a financial nature to retail clients must complete the prescribed list of RG146 Courses. This advice could be specific or general and could be given directly to another individual or to a group of people. This includes providing financial advice through presentations or newsletters.

This list is not exhaustive, but if you work in any of the following roles and deal with retail clients then you will almost certainly need to complete RG146 Training:

Financial Planners, Finance Brokers, Investment Advisors, Investment Managers, Accountants, Insurance Brokers, Mortgage Brokers, Life Insurance Brokers, Real Estate Agents, Superannuation Agents, Tax Agents, Investment Bankers, Fund Managers.

Who Doesn’t Need RG146 Training?

You should download the ASIC RG146 document to check on your specific circumstances, but in general a person will not need to complete RG146 Training if the work they do is not treated as financial product advice by ASIC. This may include occupations such as clerks and cashiers and even customer service representatives who provide financial product advice that is derived from a script or where they are under the supervision of a person who does meet the RG146 training standards.

What Financial Services Training Courses are Available?

The range of courses available in the Australian Financial Services Industry is broad so you will need to get advice from a Registered Training Organisation on your specific requirements. The RG146 Compliance Training requirements are divided into Tier 1 and Tier 2 product categories. Financial planning courses are popular so check out the rg146 requirements for the financial planning category.

RG146 Compliance

As an example of compliance requirements, in order to legally advise in the self managed super fund industry in Australia (commonly referred to as SMSF) you must complete FPP and Super PRS training units before moving on to the SMSF unit. If you would like to advise in Margin lending or Foreign Exchange trading (Forex trading) then you would need to complete the GK or FPP module prior to starting with those specific units. Financial Services job requirements will usually require the Diploma of Financial Services (Financial planning) as a minimum RG146 compliance requirement and we also offer Advanced Diploma level of Financial Services courses. RG146 was previously referred to as PS146 but the guidelines have been revamped by ASIC in recent years. Any advisors who completed the diploma training or qualifications before the courses were accredited with ASIC will now need to meet the RG146 compliance requirements.

RG146 Tiers

RG146 Tier 1 products are all those Financial Services products not covered in Tier 2.

RG146 Tier 2 products are General Insurance products, Consumer Credit Insurance products, Basic Deposit products, Non-Cash Payment products and FHSA (First Home Save Account) Deposit accounts.