Course Title: Conduct financial planning analysis and research

Part B: Course Detail

Teaching Period: Term1 2018

Course Code: BAFI5213C

Course Title: Conduct financial planning analysis and research

School: 650T Vocational Business Education

Campus: City Campus

Program: C5343 - Diploma of Financial Planning

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

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


Name and Contact Details of All Other Relevant Staff

John Calabro

john.calabro@rmit.edu.au

 

Andrew Shiangolis

Program Coordinator Financial Services

+61 3 9925 5982

andrew.shiangolis@rmit.edu.au

 

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.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the skills and knowledge required to undertake financial planning analysis and research. It encompasses evaluating a client’s current situation, identifying issues and researching requirements and parameters for extracting and analysing information, and summarising research information.

It applies to individuals who, within their level of authority, apply specialised knowledge, systematic approaches and analytical techniques to research and prepare information customised for clients and/or situations.

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.
 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSFPL502 Conduct financial planning analysis and research

Element:

1. Evaluate client’s current situation and identify issues

Performance Criteria:

1.1 Analyse integrity of information provided by client

1.2 Identify, quantify and test client objectives for viability

1.3 Establish basis for strategy development in line with confirmed objectives

Element:

2. Identify research requirements and parameters

Performance Criteria:

2.1 Establish aims and objectives of research including strategy, product and performance parameters against client requirements and expectations, with all issues identified

2.2 Identify and access wide range of relevant internal and external information resources required for research

2.3 Establish timeframes and prioritise requests for information to ensure milestones are met

Element:

3. Extract and analyse information according to research requirements and parameters

Performance Criteria:

3.1 Establish data extraction criteria that are relevant to intended use and client requirements

3.2 Identify trends to provide meaningful information on performance of possible strategies, products and markets

3.3 Identify taxation and other government legislation that needs to be considered in choice of financial planning strategies

3.4 Conduct risk assessment of strategies and products identified through research

3.5 Analyse financial products within appropriate timeframes to ensure currency of decision making

3.6 Prioritise information according to client requirements and expectations

3.7 Identify issues that require specialist research or advice and obtain appropriate advice

Element:

4. Summarise research information

Performance Criteria:

4.1 Collate and check information on financial strategies and products against research specification

4.2 Prepare and check written performance, trend and risk analyses against research specification

4.3 Document any qualifications or issues for further research


Learning Outcomes



Details of Learning Activities

A range of learning activities are planned for this course including self paced and collaborative classroom based activities.

The self-paced activities will be delivered thought various technology platforms and include your contribution to activities, discussion threads, reflective journals on industry updates, presentations, quizzes and interactive sessions.


The collaborative classroom based activities will include role plays, group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.

You are expected to participate and contribute in all scheduled learning activities

 

 


Teaching Schedule

This course is comprised of three competencies that are co-delivered and co-assessed (delivered and assessed together).

FNSFPL502 Conduct Financial Planning Analysis and Research

FNSINC501 Conduct Product Research to Support Recommendations

FNSASICU503 Provide Advice in Superannuation

 

Induction Session


Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • Canvas - Learning Hub
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

The Teaching Schedule for this course is attached to this document (Part B) but please note that it is subject to change.

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Weekly Schedule

 

Week

Topic

Readings and Activities

Assessment

Week 1

05/0218

 

Introduction to course schedules

 

Superannuation:

Part 1 – Superannuation,

Part 2 - Regulating -Superannuation

Course Workbook – Conduct Research Analysis


Chapter 1 – Overview of the Superannuation in Australia
Chapter 2 – Structure & Operation of Superannuation Funds

 

Week 2

 12/02/18

Superannuation:

Part 3 - Types of Funds,

Part 4 - Superannuation and Retirement Preservation Standards

Course Workbook – Superannuation and Retirement Planning

 

Chapter 3 – The Regulatory Framework


Chapter 4 - Contributions to Superannuation Funds

 

 

 

 

Week 3

 19/02/18

Superannuation:

Part 3 - Types of Funds,

Part 4 - Superannuation and Retirement Preservation Standards

Course Workbook – Superannuation and Retirement Planning

Chapter 3 – The Regulatory Framework


Chapter 4 - Contributions to Superannuation Funds

 

 

 

Week 4

 26/2/18

Superannuation:

Part 5 – Investing in Superannuation,

Part 6 - Contributing to Superannuation

Course Workbook – Superannuation and Retirement Planning

Chapter 4 - Contributions to Superannuation Funds


Chapter 5 – Withdrawals from Superannuation

 

Week 5

 05/03/18

Superannuation:

Part 7 - What is a SMSF?

Course Workbook – Superannuation and Retirement Planning

Chapter 9 – Self Managed Superannuation Funds

 

Week 6- 12/03/18

 

Retirement:

Part 1 – Introduction to Retirement,

Part 2 - Superannuation Components

Course Workbook – Superannuation and Retirement Planning

Chapter 5 – Withdrawals from Superannuation


Chapter 6 – Death Benefits and Estate and Retirement Planning Issues


Chapter 7 – Payment of Superannuation Benefits as Income Stream

 

Week 7

 19/03/18

Retirement:

Part 3 - Sources of Income Streams in Retirement

Social Security:

Part 1- Social Security Introduction

Course Workbook – Superannuation and Retirement Planning

Chapter 5 – Withdrawals from Superannuation


Chapter 6 – Death Benefits and Estate and Retirement Planning Issues


Chapter 7 – Payment of Superannuation Benefits as Income Stream

 

Week 8

 26/03/18

Social Security:

Part 2 - Types of Pensions,

Part 3 - Aged Care System

Course Workbook – Superannuation and Retirement Planning

Chapter 7 – Payment of Superannuation Benefits as Income Stream


Chapter 8 – Social Security

 Assignment 1 - Research and Application Assignment 

Due Date: 26/03/18

Week 9

 09/4/18

Client Research and Analysis:

Part 3 – Use of Financial Information Statement


Develop Strategies and Solutions:

Part 1 – Develop Strategies and Solutions Introduction

Course Workbook – Financial Planning

Chapter 1 – Introduction to Financial Planning


Chapter 3 - Taxation Planning

 

 

 

 

 

Week 10

 16/04/18

Develop Strategies and Solutions:

Part 2 – Current Financial Position,

Part 3 - Developing strategies

Course Workbook – Financial Planning
Chapter 1 – Introduction to Financial Planning
Chapter 4 – The Investment Planning Process


Course Workbook – Managing Client Relationships
Chapter 3 - Identifying needs and collecting data

 

Week 11

 23/04/18

Develop Strategies and Solutions:

Part 3 - Developing strategies

Course Workbook – Financial Planning
Chapter 1 – Introduction to Financial Planning
Chapter 4 – The Investment Planning Process


Course Workbook – Managing Client Relationships
Chapter 3 - Identifying needs and collecting data

 Assignment 2 - Workplace Simulated Project – Financial Plan in superannuation

Due Date: 23/04/18

Week 12

 30/04/18

Develop Strategies and Solutions:

Part 4 – Selecting Products

Course Workbook – Financial Planning
Chapter 1 – Introduction to Financial Planning
Chapter 4 – The Investment Planning Process


Course Workbook – Managing Client Relationships
Chapter 3 - Identifying needs and collecting data

 

Week 13

 07/05/18

Develop Strategies and Solutions:

Part 4 – Selecting Products

Course Workbook – Financial Planning
Chapter 1 – Introduction to Financial Planning
Chapter 4 – The Investment Planning Process


Course Workbook – Managing Client Relationships
Chapter 3 - Identifying needs and collecting data

Revision

 

Week 14 

 14/05/18

Develop Strategies and Solutions:

Part 4 – Selecting Products

Course Workbook – Financial Planning
Chapter 1 – Introduction to Financial Planning
Chapter 4 – The Investment Planning Process


Course Workbook – Managing Client Relationships
Chapter 3 - Identifying needs and collecting data

Assignment 3 – In Class Supervised Assessment

Due Date: 14/05/18

Week 15

21/05/18

Student Feedback

 

 

Week 16

28/05/18



Re-submission if required

 

The nominal hours associated with this are a guide only and represent the total teaching time and student effort required to successfully complete this course.  This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Learning Resources

Prescribed Texts


References


Other Resources

 

Online learning materials can be accessed by going into the RMIT web sites Online Learning Hub.

The online learning materials listed include:

  • Course outlines
  • Client files
  • Power point Presentations
  • Course Workbooks
  • Supporting Reading material
  • Industry relevant articles
  • Activities

 


Overview of Assessment

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

Performance Evidence

Evidence of the ability to:

  • conduct financial planning research that demonstrates:
    • evaluation of client’s current situation and identification of issues
    • identification of research requirements and parameters
    • extraction and analysis of information
    • use of a wide range of available information sources
    • compliance with relevant legislative and regulatory requirements, relevant industry codes of practice and organisational operating guidelines
  • accurately summarise research information and test its integrity
  • prioritise findings, validated against client requirements, and document research for financial plans.

Knowledge Evidence

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

  • identify and describe a wide range of financial products and services
  • discuss the risks and implications associated with use of financial products and services
  • explain financial products and services and the associated benefits from a financial planning perspective
  • identify financial industry information sources and outline research techniques for accessing this information
  • compare and contrast financial planning strategies
  • describe the key features of:
    • organisational policy and procedures relating to research
    • relevant legislation and regulations governing trusts and companies
    • relevant industry code of practice requirements
  • describe the key features of taxation and social security systems and regulations, and their effect on specified financial products
  • outline the key aspects of theories of investment, portfolio management and management of investment and risk.

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.
 


Assessment Tasks

Overview

This course is comprised of three competencies that are co-delivered and co-assessed (delivered and assessed together).

FNSFPL502 Conduct Financial Planning Analysis and Research

FNSINC501 Conduct Product Research to Support Recommendations

FNSASICU503 Provide Advice in Superannuation

You will demonstrate competency by undertaking three assessments, a workplace simulated project, a research and application assignment and a supervised assessment.

The assessments for this course have been designed to allow you to apply your learning to particular workplace scenarios and demonstrate your competence in a variety of ways.

Critical Aspects of assessment are described above in the performance evidence for this course.

 

Assignment Task 1 - Research and Application Assignment – Due Date 26/03/18 – Week 8

 

This is assessment Task 1 of a total of 3 assessment tasks. You must successfully complete all 3 tasks to achieve competency in this cluster. You must successfully complete all eight activities to be deemed competent in Task 1 Context/purpose of Task 1 For this Assessment Task you are required to demonstrate your knowledge by completing a series of eight theory and problem solving activities over the course of the semester from weeks 3 to 8

 

You will be required to submit each activity as specified in the weekly schedule. The purpose of the activities is to enhance your understanding and ability to apply the knowledge to practice in the following areas:

a) superannuation tax policy

b) regulatory framework for the superannuation system

c) regulatory bodies codes of practice in superannuation

d) role of professional associations and their influence to the superannuation industry

e) impact of superannuation on the Australian economy

f) impact of international and local markets on the superannuation fund holders in Australia

g) key documents that a superannuation advisor needs to explain to the client in the initial interview

h) operation of superannuation as a tax structure

 

Assignment Task 2 -  Workplace Simulated Project Strategy Paper in Superannuation – Due Date 23/04/18 – Week 11

Context/purpose of Task 2

In week 4, you will be provided with a contract and position description for a Financial Planner at Swanston Banking Group Ltd.  You will assume the role of a financial planner at the Swanston Banking Group Ltd and follow the company policies and procedures as if you were a real employee of the bank. You will be allocated and electronic client file that you will be able to access from the Swanston Bank Portal within the Learning hub for the program. The client file will include client details, background of their particular circumstances, a bank statement, pay slips and a superannuation statement. You will require all these documents in order to address all the requirements of this project.

The Workplace Simulated Project requires you to complete two parts: Part 1 and Part 2 .

For the first part of the project you will assume the role of a para planner at the Swanton Banking Group Ltd and you will prepare Strategy Paper that includes superannuation advice for the simulated client you interviewed in Cluster 2. The Strategy paper that you will prepare must demonstrate that the level of risk matches the client’s risk profile and demonstrate how the needs of the client have been met.

 

In the second part of the assessment you will be required to undertake a role play with your client for the second time at the premises of Swanston Banking Group Ltd. You will need to continue building a good rapport with the client and present the Strategy paper that you drafted to them.

 

You will need to ensure that the client understands all the information provided particularly the concepts in reference to superannuation. The main aim of the second part is for you is to be able to explain all the relevant terms in the Strategy paper, answer the questions that the client may have and to negotiate the contents of the paper.

 

The purpose of the assessment is to enable you to demonstrate a breadth of understanding across all of the course material at an independent level. It assesses the knowledge you have obtained through undertaking the concepts of superannuation, your communication skills in presenting that knowledge and your problem-solving skills in answering the questions posed in a live interview with the simulated client.

 

 

Assignment Task 3 –  In Class Supervised Assessment – Date 14/05/18 – Week 14

Overview

For this Assessment Task you are required to demonstrate your knowledge by completing an open book in class supervised assessment comprised of a series of theoretical and practical questions including: short answer and mini case studies. The purpose of this Task is to assess your understanding of the concepts and issues included in the topics covered in this course. This assessment will take place during your normal scheduled class time.

Task 3 –Supervised Assessment

The assessment comprises six short answer and problem solving questions style questions. . The purpose of this task is to assess your understanding of the concepts and issues included in the topics from weeks 2 to 13. The duration of the assessment is two hours. This assessment will take place during your normal scheduled class time.

 


Assessment Matrix

The assessment matrix that maps all the assessment is available on Canvas

Other Information

 

Submission Requirements

 

You should:

 

  • Ensure that you submit assessments on or before the due date. 
  • Always retain a copy of your assessment tasks. (hard copy and soft copy)
  • When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers.

Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.

More Informationhttps://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work

Where an extension of greater than seven days is needed, you must apply for Special Consideration.  Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.

More Information:https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration

Resubmissions (VET Programs):

If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. 

If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.

Grading & re-submissions

Successful re-submissions will contribute a CAG only (Competency Achieved Grading) result to your overall grade for the course.

Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:

https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/adjustments-to-assessment

 

Marking Guide (Competency):

 

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

 

You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

 

 

Marking Guide (Grading)

 

After achieving competency we then grade your performance in the unit and you will achieve one of the following grades:

 

Final Grades table:

 

 

CHD

Competent with High Distinction

 

 

CDI

Competent with Distinction

 

 

CC

Competent with Credit

 

 

CAG

Competency Achieved – Graded

 

 

CA

Competency Achieved – Not Graded

 

 

NYC

Not Yet Competent

 

 

DNS

Did Not Submit for assessment

 

    

 

 

Further information regarding the application of the grading criteria will be provided by your teacher.

 

Course Overview: Access Course Overview