Personal advice is “financial product advice that is 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.

If you want to provide ‘personal advice’ to a retail client, you MUST complete Financial Planning in Practice – this course contains both Generic Knowledge and Financial Planning Skills.  ASIC has set out the skills required in Appendix B of RG146 and state:

RG 146.142 Advisers providing personal financial advice to retail clients should be able to apply appropriate skills in relation to their activities and the products and markets in which they operate.