Course Title: Applications in Financial Planning

Part A: Course Overview

Course Title: Applications in Financial Planning

Credit Points: 12.00


Course Coordinator: TBA

Course Coordinator Phone: +61 3 9925

Course Coordinator Email: @rmit.edu.au


Pre-requisite Courses and Assumed Knowledge and Capabilities

You are recommended to have completed the following course(s) or have equivalent knowledge before starting this unit:

  • BAFI3244 Financial Planning Process


Course Description

The purpose of this course is to introduce students to a range of financial planning applications, examining typical client advice scenarios that are encountered by a financial adviser. In this course students will be introduced to applications in financial planning. The development of appropriate and relevant financial advice for clients requires the integration of a range of skills and a substantial body of technical knowledge. This body of knowledge includes areas such as investment analysis, taxation planning, risk management and insurance planning, superannuation planning for retirement, estate planning, family law and social security issues. Students will synthesise and substantially apply this body of knowledge in other courses in this program.

Students will examine the client-adviser relationship and the process of strategy development before exploring three case studies as exemplars of typical financial planning applications. Students will have the opportunity to discuss and develop potential strategies and solutions. Students will also prepare and present a limited advice (scaled advice) Statement of Advice for a client. The course will therefore develop the student’s ability to identify and research issues, consider and evaluate possible alternatives and solutions. 

The course may be viewed as “guided research introduction” and as a foundation to the Research Issues in Financial Planning course through the development and application of critical thinking skills.


Objectives/Learning Outcomes/Capability Development

-


On successful completion of this course, you will be able to:

  1. Synthesize and apply knowledge of how to build a client relationship, collect client data, and set client goals with the “informed consent” of the client.
  2. Analyse, synthesize and evaluate relevant information as part of complex financial advice scenarios to demonstrate reasoning and technical skills in analysing data, developing strategies and making recommendations.
  3. Apply and demonstrate the integration of specialist technical knowledge areas within financial planning in developing strategies and recommendations for a client to meet needs and expectations.
  4. Justify and communicate potential alternative solutions in typical client advice scenarios to clients and peers.
  5. Demonstrate high level understanding of complex financial planning scenarios, implement and review a financial plan and use financial technology to engage with clients in real-time.

 

The following table maps each CLO against one or more PLOs

 

CLO1

CLO2

CLO3

CLO4

CLO5

PLO1

Ö

 

 

Ö

Ö

PLO2

Ö

Ö

Ö

 

 

PLO3

 

Ö

Ö

 

Ö

PLO4

 

Ö

 

Ö

Ö

PLO5

Ö

 

Ö

Ö

Ö

PLO6

 

Ö

 

Ö

Ö

PLO7

 

 

 

 

 

 

Please note: PLOs listed below.  Not all PLOs are achieved in a single course.

PLO1 Demonstrate knowledge of financial advice regulation and practice in Australia.

PLO2 Apply knowledge of research principles and methods applied to the discipline of financial planning.

PLO3 Analyse, synthesize and evaluate complex financial advice scenarios and theories to demonstrate cognitive and technical skills in financial planning.

PLO4 Apply reasoning, technical and creative skills to generate and evaluate complex ideas and concepts to solve emerging or advanced problems related to investments, superannuation planning, retirement planning, estate planning, insurance, and taxation planning.

PLO5 Justify and communicate financial planning advice and ideas in complex collaborative contexts involving both professional financial planners and non-professionals.

PLO6 Apply knowledge and skills with creativity and initiative, using a high level of personal autonomy and accountability, to new client scenarios in professional practice.

PLO7 Apply knowledge and skills to plan and execute a capstone research experience combined with authentic Work Integrated Learning (WIL) contexts, professional contexts and industry settings.

 

 


Overview of Learning Activities

Your  learning  will  be  supported  through  various  activities  which  may include  quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; debating selected topics on discussion forums and producing written work.


Overview of Learning Resources

Various   learning   resources   are   available   online   through   MyRMIT Studies\Canvas.  These  may  include  topic  notes  and  slides,  a  study schedule, assessment details, links to relevant internet information, readings and communication tools to facilitate collaboration with your peers and sharing of information. 

Resources are also available online through RMIT Library databases and other facilities. If you require assistance with the RMIT library facilities contact the Business Liaison Librarian. Contact details for Business Liaison Librarians are located online on the RMIT library website. 

Additional resources and/or sources to assist your learning will be made available to you as required during the teaching period.


Overview of Assessment

Assessment Tasks

 

  

Assessment Task 1:

Test (Topics 1 & 2)

10 per cent

Assessment Task 2:

Portfolio of strategy issues, alternatives and recommendations for each case study *.

  • Case study #1 (10%)
  • Case study #2 (15%)
  • Case study #3 (25%)

 

 

 

 

 

50 per cent

Assessment Task 3:

Final Examination

40 per cent

 

*Although students will be required to consider all issues in each case study, they may only be required to provide detailed analysis on certain aspects of the case. The lecturer will provide direction and detail about what is required.

The assessment alignment table below shows the assessment tasks against the learning outcomes they develop.

 

Assessment

 

Course Learning Outcomes

CLO1

CLO2

CLO3

CLO4

CLO5

Task 1

X

X

 

 

 

Task 2

 

X

X

X

X

Task 3

X

 

X

X

X