Understanding the Booming Demand for FNS Training
The NCVER 2023 data has unveiled exciting trends for RTO training packages in the Financial Services (FNS) sector. If you’re an RTO, you’ll want to pay close attention to this article. The data shows a significant 21% year-over-year (YoY) growth in total enrolments for the FNS training package.
Impressive Enrolment Figures
| Training Package | 2022 Enrolments | 2023 Enrolments | YoY Growth |
|---|---|---|---|
| Financial Services | 58,870 | 71,180 | 21% |
This growth isn’t limited to just one study mode; it’s consistent across both full-time and part-time enrolments.
| Study Mode | 2022 Enrolments | 2023 Enrolments | YoY Growth |
|---|---|---|---|
| Full-time | 10,780 | 13,090 | 21% |
| Part-time | 48,090 | 58,090 | 21% |
The Reach of e-Learning
One of the most remarkable aspects of this growth is its reach across different regions in Australia. The growing demand for training in regional and remote areas presents an opportunity for RTOs to offer more training online.
| Remoteness Region | 2022 Enrolments | 2023 Enrolments | YoY Growth |
|---|---|---|---|
| Major Cities | 37,355 | 45,570 | 22% |
| Regional | 13,555 | 16,925 | 25% |
| Remote | 845 | 1,085 | 28% |
Increased Government Funding
Government funding for FNS training has also seen a substantial increase, enabling more students to access quality education.
| Highest funding source | 2022 Enrolments | 2023 Enrolments | YoY Growth |
|---|---|---|---|
| Government funding | 23,990 | 34,380 | 43% |
Top Qualifications with the Highest Growth
Here are the FNS qualifications that have experienced the highest enrolment growth.
| Code | Name | 2022 Enrolments* | 2023 Enrolments* | YoY Growth |
|---|---|---|---|---|
| FNS10120 | Certificate I in Basic Financial Literacy | 1,210 | 2,450 | 102% |
| FNS20120 | Certificate II in Financial Services | 950 | 1,610 | 69% |
| FNS40821 | Certificate IV in Finance and Mortgage Broking | 6,230 | 9,435 | 51% |
| FNS41820 | Certificate IV in Financial Services | 460 | 905 | 97% |
| FNS50322 | Diploma of Finance and Mortgage Broking Management | 4,800 | 7,420 | 55% |
*Where applicable this includes data from qualifications that superseded in 2022.
Why Now is the Best Time to Expand Your RTO’s Scope
The increasing enrolments and government funding make it an opportune time to enlarge the scope of your RTO to include FNS training. By doing so, you can cater to the growing demand and help shape the future of financial services professionals in Australia.
Explore our available FNS RTO materials. Our comprehensive FNS training resources are designed to enhance your training delivery and help your students excel in the financial sector.
Make the Most of FNS Training Growth
In summary, the FNS training sector is booming, and there has never been a better time to be a part of this growth. By integrating FNS training into your RTO’s offerings, you can meet the rising demand and provide valuable education to future financial services professionals. Don’t miss out on this opportunity to elevate your RTO’s course offerings with quality FNS RTO materials from leading Australian publishers.
