Unit Outline

The purpose of this unit is to provide you with guidelines on how to communicate effectively with your clients and to ensure that you have the appropriate information from them to provide them with the best possible advice in your role as a Financial Adviser. This unit has been designed to provide you with suggested questions and formats for compliance to the current legislative requirements of “knowing your client” before you provide them with a detailed financial plan or statement of advice. The object of this unit, therefore, is to assist you to gain the skills necessary to establish a harmonious rapport with your clients that will, in turn, build a lasting relationship.

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.	Explain the evolution of behavioural finance in a financial advice context.
2.	Describe individual behavioural patterns as applied across different societal and demographic contexts.
3.	Communicate effectively both verbally and non-verbally and engage positively in dealings with clients and peers.
4.	Analyse and evaluate ethical practice, sustainable principles and professional standards in providing financial advice.
5.	Construct and present a compliant comprehensive Statement of Advice.

Requisites


REQUISITE TYPE	REQUISITES
Pre-requisite	BFA508

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:	Reflective Journal	Week 11	25 %	LO2, LO3, LO5
Assessment Task 2:	Capstone project	Week 14	40 %	LO1, LO2, LO3, LO4, LO5
Assessment Task 3:	Application questions and research project	Refer to Assessment Description	35 %	LO1, LO4, LO5

Assessment details

Assessment Task 1: Reflective Journal

Task Description:

You will complete an individual journal to analyse the topics covered regarding behavioural finance and the impact on portfolio design. Please articulate your feelings and opinions about the subject matter.

A journal requires you to write weekly entries throughout a semester. It will be based on your
reflection on course content and use the ERA cycle of reflection containing three stages of experience, reflection and action.

The assessor will look for the following:
1.Description of topic encountered in the course
2.The student's voice is clear
3.Introduces 'everyday' life experience
4.The style is relatively informal, yet still uses full sentences
5.Makes an explicit link between 'everyday' life and the topic

Task Length:

1000 words

Due Date:

Week 11

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply theoretical knowledge of the psychology of client engagement in the financial services context	LO2
2	Communicate effectively verbally and engage positively in dealings with clients and peers	LO3
3	Demonstrate sound judgment when engaging in ethical practice and display professional standards reflecting responsible and sustainable practices.	LO5

Assessment Task 2: Capstone project

Task Description:

Construction of a comprehensive financial plan with a presentation plus a data gathering skills assessment. This is a major capstone project where students are asked to demonstrate a breadth of understanding across all of the Unit Learning Outcomes with particular emphasis on superannuation and estate planning. Capstone project will be conducted during the SWOTVAC period . Timetable for specific date, and time will be advised during semester. The capstone will be a take-home: non-invigilated project, without restrictions on permitted materials.

Task Length:

Your Statement of Advice (SOA) should be no longer than forty (40) pages including Appendices if required.

Due Date:

Week 14

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explain the evolution of behavioural finance in a financial advice context	LO1
2	Apply theoretical knowledge of the psychology of client engagement in the financial services context.	LO2
3	Communicate effectively verbally and engage positively in dealings with clients and peers.	LO3
4	Demonstrate sound judgment when engaging in ethical practice, employing sustainable principles and display professional standards reflecting responsible and sustainable practices.	LO4
5	Apply the steps to construct a compliant comprehensive Statement of Advice.	LO5

Assessment Task 3: Application questions and research project

Task Description:

At the commencement of semester, we will formally assess your individual responses submitted to MyLO for a minimum of two randomly allocated sets of application questions (i.e., your responses to the questions from three different weeks) and one research project. Further instructions will be provided by via MyLO. This instruction will indicate which weeks you have been allocated application questions (Weeks 2 & 5) and the research project (week 10).

Task Length:

2x 600 words per activity + 900 words case study.

Due Date:

Refer to Assessment Description

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Demonstrate sound judgment when engaging in ethical practice, employing sustainable principles and display professional standards reflecting responsible and sustainable practices.	LO4
2	Apply the steps to construct a compliant comprehensive Statement of Advice.	LO5
3	Explain the evolution of behavioural finance in a financial advice context.	LO1

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.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

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.