Unit Outline

A comprehensive financial plan will contribute towards the quality of a person's life by reducing the uncertainty about their future needs and the resources that will be available to meet them. This unit is an introductory course examining what is involved in organising and managing an individual's financial resources, and how to protect, maximise and enjoy the benefits obtained from these resources. The financial planning industry has undergone significant change commencing from March 2004 with the implementation of the Financial Services Reform Act 2001 (FSRA). The aim of the unit is to provide a sound understanding of the process of financial planning, together with some of the fundamental skills and knowledge that are required. In line with these objectives, each of the recognised steps in the financial planning process that have been developed by financial planners will be examined in detail, namely: gathering qualitative and quantitative data; identifying goals; identifying financial problems including: setting priorities, deciding on trade-offs and considering opportunity costs; preparing or interpreting written recommendations; implementing agreed-upon plans; and, reviewing, revising and maintaining personal financial plans. The `key areas' that are important for the financial planning process are examined, namely: the regulatory framework; investments; managed funds; superannuation; home ownership; risk management and insurance; taxation; consumer credit; social security; estate planning.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Critique the advisory functions of financial planners. within the adviser/client relationship
2.	Analyse the Australian legal framework within which financial planners operate.
3.	Apply sustainable financial planning process steps to client scenarios.
4.	Evaluate the ethical considerations and professional conduct requirements

Alterations as a result of student feedback

To Be Determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Assignment analysis	Week 9	25 %	LO1, LO3, LO4
Assessment Task 2:	Project	Exam Period	40 %	LO1, LO2, LO3, LO4
Assessment Task 3:	Workshop participation activities	Refer to Assessment Description	35 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Assignment analysis

Task Description:

Your assignment will involve a case study which is to be completed individually. This assignment is designed to familiarise you with the work undertaken by financial planners in relation to the important ‘key areas’ of compliance, ethics and the financial planning process.
A written report supporting your analysis of compliance case study related to client advice and recommending a course of action to the manager of an organisation will be required.

Task Length:

Word count 2000

Due Date:

Week 9

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Integrate the advisory functions of financial planners within the adviser/client relationship.	LO1
2	Employ ethical and sustainable considerations and professional conduct requirements in the giving of financial planning advice.	LO3
3	Evaluate ethical considerations and professional conduct requirements in the giving of financial planning advice	LO4

Assessment Task 2: Project

Task Description:

This is a capstone assessment is a case study involving a paraplanning report where students will be provided with a client scenario. It assesses the knowledge that students have obtained through undertaking this unit, your communication skills in presenting that knowledge and problem-solving skills in answering the questions posed.

Task Length:

Word count 2500

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Integrate the advisory functions of financial planners within the adviser/client relationship.	LO1
2	Construct a limited scope Statement of Advice (SOA) to meet client and sustainability requirements.	LO3
3	Identify ethical considerations and professional conduct requirements in giving of financial planning advice.	LO4
4	Employ the legal framework in which financial planners work.	LO2

Assessment Task 3: Workshop participation activities

Task Description:

During the semester, we will formally assess your individual responses submitted to MyLO for a minimum of two sets of application questions each consisting of 2 activities and one case study. Assessments weeks will be 3, 6 and 11.

Task Length:

2 x 750 words per activity + 1000 words case study.

Due Date:

Refer to Assessment Description

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Integrate the advisory functions of financial planners within the adviser/client relationship.	LO1
2	Appraise the process and use of sustainable principles of giving financial advice in the interaction with clients.	LO3
3	Evaluate the legal, ethical considerations and professional conduct frameworks in the giving of financial planning advice.	LO2

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

McKeown, Olynyk, Kerry, Cianco, La, 2021, Financial Planning, Essentials Edition, Wiley, E-Book or Paperback