Bachelor of Business (Financial Planning)
Student type:
Quick facts
-
Entry score
ATAR 67.45
-
Duration
Full-time 3 years, Part-time may be available -
Location
Melbourne City, Online -
Fees
Next intake
February, July, Open Universities Australia Entry score
IELTS 6.5
Duration
Full-time 3 years Location
Melbourne city, Online Fees
AU$30,720 (2018 annual)
Next intake
February, July
Overview
This financial planning degree will develop your financial knowledge, analytical skills and decision-making abilities, enabling you to work as a qualified professional financial planner and work in other roles in the finance sector.
Recognised and accredited by the Financial Planning Association of Australia (FPA), the program will equip you with the expertise to provide professional financial advice in a range of areas including personal planning, taxation, estate planning, superannuation, insurance and investment planning.
As you develop your core skills towards obtaining a financial planner license and FPA membership, you will also learn about the changing regulatory and legal environment in Australia.
This program is designed to suit students who already have significant work experience, and for those who want to extend their studies in business and related disciplines by choosing from a range of second majors and minors.
Details
Classes will mostly be delivered in RMIT's Swanston Academic Building which features innovative learning spaces interspersed with retail and social spaces resulting in a stimulating environment for students.
RMIT offers a variety of learning and teaching approaches including lectures, tutorials, class presentations and student-led discussions, role plays, case study analysis and participating in managing a company in a computer-based business simulation.
Through RMIT University’s online learning portal, myRMIT, you will be able to view online resources and learning activities created by lecturers, access course materials via Blackboard, collaborate with lecturers and fellow students, and access your student email account. Educational software, the Learning Hub, resources and printers are accessible on campus via the RMIT wireless network using your own laptop, tablet or smart phone or via computer facilities on-campus. You will be able to access the same software from home using myDesktop.
Find out more about student computing at RMIT.
Assessment throughout the semester may include examinations, in-class tests, essays, reports, individual and group research projects.
This program is also offered through Open Universities Australia (OUA). To study in online mode, please apply through OUA.
As part of your studies, you will undertake specialist financial planning work-integrated learning courses like ‘Superannuation and Retirement’. This course and others allow you to study current processes, regulatory frameworks and taxation issues and are listed on the ASIC Register of Compliant Training as meeting the requirements for superannuation specialist knowledge under Regulatory Guide 146. ‘Superannuation and Retirement’ is also worth 15 Continuing Professional Development (CPD) points for membership of professional bodies, including the FPA.
A final year course, ‘Financial Advisory Practice’, requires you to demonstrate all you have learnt from your studies by preparing, presenting, implementing and reviewing a personal financial plan for a client. You will also explore practical issues relevant to the financial planning industry in general, and practice management specifically.
As you undertake these courses, you will have opportunities to interact and receive feedback from industry and/or community, clients and/or practitioners.
You may also choose to participate in other work-connected and industry-relevant opportunities such as:
working in a student team as part of the Fastrack Innovation Program. In this elective course, you will work with mentors to develop and present a solution to a real problem. This form of fast-prototyping is designed to tap into fresh thinking from RMIT students.
Business Internship electives, where you work in a professional setting for one or two days per week for one semester. Positions are normally unpaid and are designed to develop your communication and leadership skills (soft skills) and increase your overall employability once you graduate.
RMIT University is committed to providing you with an education that strongly links formal learning with professional and vocational practice.
Completing a global mobility program can help you to stand out in the job market.
In most cases you can gain credit points towards your studies while experiencing another culture and teaching style overseas.
Global mobility options available for this program include:
- Study tours
- First Year Study Tour
- Student exchange
- RMIT International Industry Experience and Research Program (RIIERP)
- Global Entrepreneurship and Internship Program (GEIP).
Find out more about international opportunities in the College of Business.
The following information relates to the Melbourne City campus program.
The program consists of 24 courses (each 12 credit points) and includes:
- 8 compulsory common business core courses
- 8 business discipline major courses
- 8 flexible courses.
The 8 flexible courses can be selected from 3 options:
- a second business discipline major (8 courses)
- a compulsory business discipline minor (4 courses) plus second minor (any discipline)
- a compulsory business discipline minor (4 courses) plus 4 electives.
You must complete both Business Finance (BAFI1008) and Taxation 1 (LAW2453) in order to meet the Financial Planning Association of Australia professional accreditation requirements and, therefore, to be eligible for membership of FPA, as well as to ensure compliance with RG146. These two courses are also available through the Financial Planning and Taxation Minor (PDF 183 KB), which is strongly recommended for the Bachelor of Business (Financial Planning) students.
Note: You will not be able to complete a second major if you are seeking professional accreditation and membership.
If you select a second business major, you can select from:
- accounting
- economics
- entrepreneurship
- human resource management
- information systems
- logistics and supply chain management
- management
- marketing.
Business minors (PDF 201KB 14p) can be selected from the same disciplines as listed above, as well as behavioural business, business analysis, financial planning and taxation, human resource practice, IS security and risk management, law or the flexible business minor. Other minors can be selected from many disciplines offered across RMIT.
You are advised to check detailed information about which elective and minor courses are offered each year, as well as general information about professional practice requirements.
If you choose electives as your flexible courses, you may wish to consider business internship electives, global experience options such as internships or study tours, or BUSM4599 Business Skills for Start Ups, a course designed for students interested in starting up their own business, covering the stages from concept through to launch.
Choose a program structure
| Title | Location | Duration | Plan code | CRICOS | ||
|---|---|---|---|---|---|---|
| Bachelor of Business (Financial Planning) | City Campus |
3 years full time
|
3 years full time
|
BP314 | 092360C |
Choose a program structure
Program code: BP314
Career
Graduates will be equipped with the knowledge and technical skills to provide professional advice relating to financial markets, investments, superannuation, retirement planning and insurance in diverse organisations.
As a financial planning professional, you will be able to take on roles in stockbroking, funds management, insurance and risk, and superannuation, and work in private sector or government organisations that have a requirement for high-level, technical expertise in financial planning.
Job titles may include:
• Investment advisor
• Fund manager
• Risk analyst
• Wealth management officer
• Insurance broker
• Stockbroker
• Investment banker
• Superannuation specialist
• Personal financial advisor
• Financial analyst
Accreditation
This program is accredited by the Financial Planning Association of Australia (FPA).
You must complete Business Finance (BAFI1008) and Taxation 1 (LAW2453) in order to meet the Financial Planning Association of Australia professional accreditation requirements and, therefore, to be eligible for membership of FPA, as well as to ensure compliance with RG146. These two courses are also available through the Financial Planning and Taxation Minor (PDF 183 KB), which is strongly recommended for Bachelor of Business (Financial Planning) students.
Membership
Students and graduates of the program are eligible to apply for membership of FPA.
Graduates are eligible to enrol in the Financial Planning Association of Australia CFP Certification Program.
For further details about accreditation and information about membership and opportunities for students and graduates, please visit our accreditation and membership page.
Admissions
Current Year 12:
Successful completion of an Australian Year 12 or equivalent, with a minimum ATAR of 65, or equivalent.
Non Year 12:
- Successful completion of a Diploma or Advanced Diploma; or
- Successful completion of a Higher Education Diploma; or
- Successful completion of the equivalent of 1 semester of full-time study^ of an Associate Degree with a credit average and no double-fail in any required course of the receiving degree.
3 year RMIT Bachelor of Business degree students:
Successful completion of the equivalent of 1 semester of full-time study^ and no double-fail in any required course of the receiving degree.
All other 3 year bachelor degree students:
Successful completion of the equivalent of 1 semester of full-time study^ with a cumulative GPA of 1.0 out of 4.0 / 50% Weighted Average Mark (WAM); and no double-fail in any required course of the receiving degree.
4 year bachelor degree students:
Successful completion of the equivalent of 1 semester of full-time study^ and no double-fail in any required course of the receiving degree.
^ One semester of full-time study relates to a block of study: 4 out of 4 or 3 out of 3 courses within a semester.
Find out about local student entry requirements for bachelor and associate degrees that are equivalent.
RMIT is committed to admissions transparency. View the 2018 ATAR distribution information for our degrees and information about how admissions work at RMIT.
You must have successfully completed an Australian Year 12 (or equivalent senior secondary school qualification) with a minimum average of 65% (check calculator below).
Equivalent qualifications may also include completion of the RMIT Foundation Studies program or a recognised post secondary diploma in the relevant discipline with the required grades.
Meeting the minimum academic requirements does not guarantee entry. Your application will still need to be assessed and accepted.
If you don't meet the entry requirements, there may be other RMIT programs you are eligible for that can lead you to your preferred program. Explore your pathway options.
Entry requirements
To study this program you will need to complete one of the following English proficiency tests:
- IELTS (Academic): minimum overall band of 6.5 (with no individual band below 6.0)
- TOEFL (Paper Based Test): minimum score of 580 (TWE 4.5)
- TOEFL (Internet Based Test - IBT): minimum overall score of 92 (with minimum of 20 in all sections)
- Pearson Test of English (Academic) (PTE (A)): minimum score of 58 (with no communication band less than 50)
- Cambridge English: Advanced (CAE): minimum of 176 with no less than 169 in any component.
For detailed information on English language requirements and other proficiency tests recognised by RMIT, visit English language requirements and equivalency information.
Don't meet the English language test scores? Complete an Advanced Plus Certificate at RMIT English Worldwide.
Pathways
Graduates of many RMIT vocational education and associate degree programs may be eligible to apply for exemptions. For details about pathways and the duration of your studies, please visit the recognised pathways page.
An Honours year program is available to exceptional students.
When you successfully complete this program you may be eligible for entry into the Bachelor of Business (Honours).
Alternatively, you may be eligible for entry into other RMIT honours or other postgraduate programs.
You are guaranteed entry into the Bachelor of Business (Financial Planning) with credit when you successfully complete the following RMIT programs:
- Associate Degree in Business - you will receive 4 semesters of advanced standing (equivalent to 192 credit points)
- Advanced Diploma of Accounting - you will receive 3 semesters of advanced standing (equivalent to 144 credit points)
- Advanced Diploma of International Business - you will receive 3 semesters of advanced standing (equivalent to 144 credit points)
- Diploma of Commerce - you will receive 2 semesters of advanced standing (equivalent to 96 credit points)
- Diploma of Information Technology - you will receive 2 semesters of advanced standing (equivalent to 96 credit points)
- Diploma of Financial Services - you will receive 2 semesters of advanced standing (equivalent to 96 credit points)
For more detailed information on the above pathways, please refer to the College of Business Vocational Education to Higher Education Advanced Standing web page.
Alternatively, you can gain entry from RMIT Foundation Studies or a range of Vocational study programs.
Coming from a partner institution?
RMIT has pathway arrangements with many partner institutions around the world.
If your institution has a pathway arrangement with RMIT you may be able to receive credit and reduce the time it will take to complete your preferred RMIT program.
Find out if your institution has a pathway arrangement with RMIT
If you have qualifications from an institution that is not an RMIT partner, credit into your RMIT program will be assessed on a case by case basis.
Fees
All undergraduate and honours degrees have Commonwealth supported places (CSP) available.
In a Commonwealth Supported Place (CSP), your tuition fees are subsidised by the Australian Government. Your share of the fee (student contribution) is set each year by the government and is determined by the discipline areas (bands) of your individual enrolled courses, not the overall program.
As a CSP student, you may be eligible to apply for a HECS-HELP loan, which allows you to defer payment of up to 100% of your student contribution.
Learn more about fees for undergraduate study.
How much can I expect to pay for my Commonwealth supported place?
Courses (subjects) fall into one of three bands. The band determines the student contribution amount for the course.
Amounts listed in the table below are based on a standard, full-time study load (96 credit points per year) with all courses in the same band. A proportionate fee applies for more or less than the full-time study load or for enrolment in courses (subjects) from a combination of bands.
You can learn how to calculate your exact tuition fees for units from different bands at Fees for Commonwealth supported students.
Maximum student contribution amount for Commonwealth supported places in 2018
| Student contribution band by course (subject) | Maximum annual student contribution amount in 2018 |
|---|---|
| Band 1: humanities, behavioural science, social studies, clinical psychology, foreign languages, visual and performing arts, education, nursing | $6,444 per standard year $805 per standard (12 credit point) course |
| Band 2: mathematics, statistics, computing, built environment, other health, allied health, science, engineering, surveying, agriculture | $9,185 per standard year $1,148 per standard (12 credit point) course |
Band 3: law, accounting, administration, economics, commerce, dentistry, medicine, veterinary science |
$10,754 per standard year $1,344 per standard (12 credit point) course |
HECS-HELP
The Australian Government provides financial assistance via the HECS-HELP loan scheme, which allows eligible students (such as Australian citizens or holders of an Australian permanent humanitarian visa) to defer payment of up to 100% of their student contribution.
How does a HELP loan work?
If your HECS-HELP and/or SA-HELP loan application is successful, the Australian Government will pay RMIT, on your behalf, up to 100% of your fees. This amount will become part of your accumulated HELP debt.
You will only start repaying your accumulated HELP debt to the Australian Government once you earn above the minimum income threshold for repayment, which is set each year by the Australian Government (this also applies if you are still studying).
The Australian Taxation Office (ATO) will calculate your compulsory repayment for the year and include this on your income tax notice.
For more information about loan repayment options see Commonwealth assistance (HELP loans) or Study Assist.
In addition to tuition fees, you will be charged an annual student services and amenities fee (SSAF), which is used to maintain and enhance services and amenities that improve your experience as an RMIT student.
The SSAF is calculated based on your enrolment load and the maximum fee for 2018 is $298.
You may be eligible to apply to defer payment of the SSAF through the SA-HELP loan scheme. If you use SA‑HELP, the amount will be added to your accumulated HELP debt.
For more information about calculating your actual SSAF see Paying SSAF.
You may also be required to purchase other items related to your program, including field trips, textbooks and equipment. These additional fees and expenses vary from program to program.
The annual tuition fee for 2018 is AU$30,720.
The total indicative tuition fee for 2018 commencement is AU$97,920.
In addition to tuition fees you also need to pay for:
- Student services and amenities fee (SSAF) in each calendar year.
- Overseas Student Health Cover (OSHC) - Student visa holders must have cover for the total duration of their visa.
- Some programs incur additional expenses.
You also need to account for your living expenses. Estimate the cost of living in Melbourne.