Course Title: Implement financial plan

Part A: Course Overview

Program: C5343 Diploma of Financial Planning

Course Title: Implement financial plan

Portfolio: BUS Portfolio Office

Nominal Hours: 50

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BAFI5215C

City Campus

TAFE

650T Vocational Business Education

Face-to-Face or Internet

Term2 2016,
Term1 2017,
Term2 2017

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email: callie.harvey@rmit.edu.au



Course Description

This unit describes the skills and knowledge required to prepare and provide financial planning advice, which may include products, services and strategies. It encompasses establishing the actions, timings and priorities needed to implement and monitor or supervise the implementation of financial plan actions.

It applies to individuals who work within a team environment using specialised knowledge, systematic processes and managerial techniques to complete required work. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.                  

Pre-requisite Courses and Assumed Knowledge and Capabilities

None



National Competency Codes and Titles

National Element Code & Title:

FNSFPL504 Implement financial plan

Elements:

1. Establish actions, timings and priorities needed to implement financial plan

2. Establish procedures for implementation of financial plan

3. Undertake and/or supervise implementation of financial plan actions


Learning Outcomes


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • establish the actions, timings and priorities needed to implement financial plans, and undertake and/or supervise the implementation of financial plan actions
  • comply with relevant legislation, regulations, industry codes of practice and organisational procedures
  • prepare materials and brief personnel for implementing financial plans
  • gain client feedback on and/or agreement to the plan
  • accurately document all planning processes and instruments, and establish appropriate audit trails.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must:

  • explain the key features of the financial planning industry, financial products, financial markets and investment characteristics
  • discuss the key features and relevant issues relating to:
    • financial planning legislation
    • financial planning documentation requirements
    • government financial and superannuation policy
    • industry codes of practice
  • identify and categorise:
    • sources of information on financial products and markets
    • state and territory legislation, charges and taxes
  • explain the procedure and requirements in establishing audit trails.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial planning field of work and include access to:

  • office equipment, technology, software and consumables. 

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.