Finance Licensing


Workforce Training & Development specializes in Financial Services training and Financial Services licence (AFS)
needs such as RG146 Tier 2 Compliance, Credit Licensing, Certificate III and Certificate IV in Financial Services.
These courses are supported by our industry experienced trainers.


Tier 2 – ASIC RG146 Compliance

Tier 2 Adviser (ASIC 146)
Basic Deposit Products & Non-cash Payment Facilities

This subject provides RG146 compliance to provide general advice in deposit products and non-cash payment products.

The subject covers:

  • Interest rates and non-cash payment facilities
  • Legal environment – disclosure and compliance

Tier 2 Adviser (ASIC 146)
General Insurance

This subject provides RG146 compliance to provide general advice in general insurance.
To provide personal advice, you must also complete RG146 Skills.
The subject covers:

  • Insurance markets
  • Legal environment – disclosure and compliance
  • Specialist general insurance


ASIC Regulatory Guide 206 Credit Licensing

Certificate IV in Credit Management

This qualification has been designed to meet the needs of those people who need to comply with ASIC Regulatory Guide 206 Credit Licensing: Competence and training.

This qualification is relevant to credit professionals who work in either consumer or commercial credit in a variety of workplaces such as:

  • Financial institutions such as a bank or credit union
  • Within a business which offers commercial credit to customers
  • Organisations offering a factoring and/or invoice discounting facility


Financial Services Training

Certificate III in Financial Services

This qualification is designed to reflect the job role of entry level employees working across the entire financial services industry who perform duties relating to administrative, clerical and customer service roles in banking, credit management, insurance and retail financial services. Individuals at this level apply knowledge and skills to demonstrate autonomy and judgement and to take limited responsibility in known situations under general supervision.

Certificate IV in Financial Services

This qualification is intended to provide a flexible general purpose pathway in the financial services industry.
The job roles that this qualification is likely to address are:

Generalist financial services roles where a varied skill base is required

  • Retail financial services officer in a small branch or organisation
  • Retail or wholesale financial services administration staff
  • Leading/supervising a team
  • Performing duties of a first line supervisor

Frequently asked quesitons

> What is RG146?

Anyone giving financial product advice under an Australian Financial Services Licence (AFSL) must satisfy ASIC’s training standards which are explained in Regulatory Guide 146 Licensing: Training of financial product advisers (RG146).

The training standards are sets of knowledge and skill requirements that must be satisfied at either a Tier 1 or Tier 2 education level. These training standards vary depending on

  • The products the adviser gives advice on
  • Whether the adviser gives general or personal advice

Advisers meet the relevant training standards by satisfactorily completing relevant courses (such as this one for Tier 2 advice).

> What is the difference between Tier 1 and Tier 2?

As listed below, ASIC has divided financial products into Tier 1 and Tier 2. Tier 2 products are generally simpler and better understood than Tier 1 products and therefore are subject to different training standards. Advisers on Tier 1 products are required to demonstrate Generic Knowledge (eg the economic environment) and Specialist Knowledge (eg Superannuation). However, ASIC does not require advisers on Tier 2 products to meet the generic and specialist knowledge requirements. Tier 2 products don’t have an investment component where the return is subject to market fluctuations. Hence, training on the economic environment as part of generic knowledge training is less relevant to advisers on Tier 2 products.

Tier 1

  • Securities
  • Derivatives
  • Managed investments
  • Superannuation
  • Self-managed superannuation funds (SMSF)
  • Foreign exchange
  • Margin Lending Facilities

Tier 2

  • Deposit products and non-cash payment products.
  • General Insurance

> What is the difference between Personal Advice and General Advice?

Personal advice is financial product advice given or directed to a person (including by electronic means) in circumstances where:

  • the provider of the advice has considered one or more of the person’s objectives, financial situation and needs; or
  • a reasonable person might expect the provider to have considered one or more of those matters

General Advice is financial product advice that is not personal advice.

Therefore, individuals who meet the requirements and are accredited to provide personal advice, can also provide general advice.

> What are my subjects/units?

  • FNSASIC301- Establish client relationship and analyse needs
  • FNSASIC302- Develop, present and negotiate client solutions
  • FNSASIC305- Provide Tier 2 personal advice in general insurance

> What is the course training outcome?

On successfully completing the above units of competencies, statement of attainment will be awarded to you for these units.

> What are the potential careers outcome?

WFTD’s FSR Tier 2 accreditation program provides the entry level requirements for those required to provide personal (or general) advice in basic deposit and non-cash payment products and /or general insurance.

> What are the basic entry requirements for this short course?

Reading and Writing Skills

The course is an on-line correspondence course so you need to have basic English reading and writing skills, or higher. As such, entry to the course requires English proficiency to equivalent to Australian Year 10 level, a NRT or Trade qualification at the Certificate II level or higher, or 2 years of industry work experience.

Spoken English Skills

To ensure successful completion of this course you must have sufficient English speaking skills to be able to communicate with your trainer over the phone.

Computer and Internet

You will need access to a computer and the internet to complete this course. Once enrolled, you will be emailed your login details to the learning management system. You can then access your course materials immediately.

In addition, the following software and hardware may be required depending on subjects being undertaken:

  • Microsoft Office applications to suit any electives chosen e.g. Word, Excel, PowerPoint, Publisher
  • Broadband Internet Connection
  • 2GB of Ram
  • CD-ROM or DVD drive
  • Adobe Reader XI or equivalent
  • You will also need access to a phone, printer, photocopier and scanner
  • Adobe Flash Player 10 or higher

Specific requirements for Mac OS users:

  • Mac OS X v 10.5 or higher (Mac OS X v 10.6 or higher is recommended)
  • 1 gigahertz (GHz) or faster Intel processor (2GHz or faster recommended)

Specific requirements for Windows users:

  • Microsoft Windows XP or higher (Windows 7 or higher is recommended)
  • 1 gigahertz (GHz) or faster processor (2GHz or faster recommended)

> What student support is available with this training?

  • Phone assistance in business hours
  • Call back facility for afterhours contact
  • Email support

> What are the pathways from this course?

Graduates of this course can achieve entry into the following qualifications with up to three (3) unit credits.

  • Certificate III in Financial Services
  • Certificate III in Banking Services
  • Certificate IV in Financial Services