Course Title: Provide advice in managed investments

Part B: Course Detail

Teaching Period: Term2 2018

Course Code: BAFI5221C

Course Title: Provide advice in managed investments

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

andrew.shiangolis@rmit.edu.au

+61 3 9925 5982

 

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 analyse client needs and provide advice ethically and professionally on managed investments in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform an advisory role in managed investments. Refer to the FNS Implementation Guide Companion Volume or ASIC for specific guidance on requirements.               


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSASICT503 Provide advice in managed investments

Element:

1. Establish relationship with client and identify client’s objectives, needs and financial situation

Performance Criteria:

1.1 Establish client's knowledge about financial products and services

1.2 Respond to enquiries about managed investment products and services by explaining range of products and services available and their relevant fee and charging methodology

1.3 Inform client about role of adviser and licensee or principal responsible for adviser's conduct, including procedures for complaints handling and circumstances in which they should be engaged

1.4 Ask about client's objectives and goals, and obtain personal, financial and business details to identify client needs

1.5 Establish product risk profile of client, including their expectations of cash flow and relevant taxation obligations

Element:

2. Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions

Performance Criteria:

2.1 Undertake assessment of client needs using all information gathered, taking into account client's product expectations and specific needs

2.2 Consult client throughout analysis for further clarification where necessary

2.3 Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice if required

2.4 Assess and confirm product risk profile of client demonstrating ASIC identified generic and specialist knowledge relevant to products being offered

2.5 Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs

2.6 Conduct relevant research, analysis and product modelling and draft appropriate solution, plan, policy or transaction for presentation to client

Element:

3. Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction

Performance Criteria:

3.1 Apply appropriate knowledge for service or product offered when presenting product

3.2 Clearly and unambiguously explain proposed transaction to client

3.3 Reinforce all relevant details, terms and conditions of product and service

3.4 Disclose impacts and possible risks of solution in clear and concise manner

3.5 Provide supporting written documentation and guide client through key aspects of documentation

3.6 Discuss and clarify any concerns or issues client has regarding proposed plan, policy or transaction

3.7 Confirm that client understands proposed plan, policy or transaction

Element:

4. Agree to plan, policy or transaction and complete documentation

Performance Criteria:

4.1 Obtain client's formal agreement to proposed plan, policy or transaction

4.2 Clearly explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing

4.3 Ensure that proposal and all other statutory and transactional documents are completed and signed off by client

4.4 Exchange copies of signed agreement and other appropriate documentation

Element:

5. Provide ongoing service where requested by client

Performance Criteria:

5.1 Ensure that type and form of ongoing service, including reporting on performance and review of plan, policy or transaction, is agreed with client

5.2 Clearly explain all fees and costs for ongoing and specifically defined services and check that client understands these details

5.3 Provide ongoing service as required


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 wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom based activities will include 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 one single competency.

FNSASICT503 - Provide Managed Investment Advice

 

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

  • Program overview and requirements
  • MyRMIT/Canvas
  • 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 including the self - paced activities in the workbooks.

Course Schedule                                                         Semester 2 :2018

Week

Topic

Readings and Activities

Assessment

FNSASICT503 Provide Managed Investment Advice

Elements and Performance Criteria

Week 1

 2/07/2018

 

Topic 1:

Characteristics of Managed Investments

 

 

Course Workbook

 Managed Investments, Chapter 1 

Powerpoint slides on Canvas 

Topic1 - Characteristics of Managed Investments

 

 FNSASICT503 Provide Managed Investment Advice

Establish relationship with client and identify client’s objectives, needs and financial situation

Week 2

9/07/2018

Topic 2: Advantages and Disadvantages of Managed Investments

 

Course Workbook- Chapter 1 

 Topic 2 - Advantages and Disadvantages of Managed Investments

Introduce -Assessment 1  

 FNSASICT503 Provide Managed Investment Advice

 

 

 Establish client’s knowledge about financial products and services

Week 3

 16/07/2018

Topic 3:

Types of Managed Investments

 

Course Workbook

 Managed Investments, Chapter 3

Powerpoint Slides on Canvas 

Topic 3 - Types of Managed Investments

 

 FNSASICT503 Provide Managed Investment Advice

 

 

 Establish product risk profile about client, including expectations of cash flow and relevant taxation obligations

Week  4

 

23/07/2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Topic 4 - Taxation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Coure Workbook

 Managed Investments, Chapter 3

 Powerpoint Slides on Canvas

 Topic 4 - Taxation

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FNSASICT503 Provide Managed Investment Advice

 

 

 

 

 

 

 

 

 

 

 

 

 

Analse client’s objectives, needs, financial situation and risk profile to develop appropriate
strategies and solutions

 

 

 

 

 

 

 

 

 

 

Week 5

 1/08/2018

Topic 1: Asset Allocation

Managed Investments, Chapter 2

Powerpoint slides on Canvas  

Topic 1 - Asset Allocation

 

 

 FNSASICT503 Provide Managed Investment Advice

 

 

 

 

 Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs

Week 6

06/08/2018

 Sector Funds Categories/Topic 3: Categories – Multi Sector or Diversified Funds

Course Workbook Managed Investments, Chapter 2 Financial Planning Advice, Chapters 2, 5& 6 Topic 2 - Sector Funds 

 

 FNSASICT503 Provide Managed Investment Advice

 

Apply appropriate knowledge for service or product offered when presenting product

Week 7 

 13/08/2018

 Investment Management/ Investment Management Styles

Course Workbook Managed Investments, Chapter 1 & 2 Topic 2 - Investment Management Styles

 

Assessment1 Due Date 

15/08/2018

FNSASICT503 Provide Managed Investment Advice

Reinforce all relevant details, terms and conditions of product and service

 

Week 8 

20/08/2018

 

 

 Topic 1: Operations of Management Funds

 

 

 

Course Workbook Managed Investments, Chapter 1 - 4 Topic 1 - Operations of Management Funds

 

 

 

  FNSASICT503 Provide Managed Investment Advice

Disclose impacts and possible risks of solution in clear and concise manner

 27-08-2018-

 Term Break 

 

 

 FNSASICT503 Provide Managed Investment Advice

 

Week 9-

3/09/2018

 Topic 2: Unit Pricing

 

 

  

Confirm that client understands proposed plan, policy or transaction

Week 10

 10/09/2018

 Topic 3: Performance Measurement 

 

 

 

 Provide supporting written documentation and guide client through key aspects of documentation

Week 11

17/09/2018

 Topic 4: Managed Funds Service

 

 

 

 

Week 12

24/09/2018

 

5: Managed Products Topic 1: Money Market Securities Topic 2: Property Securities/Specialised Equity Schemes

 

 

 

 

 

Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction

Week 13

1/10/2018

 Topic 4: Other managed Investment Schemes and Products

 

 Assessment 2 is Due Date Wednesday 3/10/2018

 

 

 

Clearly explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing

Week 14 -

  8/10/2018

 

Revission and feedback from Assessment 2

 

 

 

 

 

Week 15 

 15/10/2018

Assessment 3 

 

Assessment 3 In class Supervised assessment 

19/10/2018

 

 

 

Week 16

22/10/18

 Resubmissions and Reassessments

 

 

 

 

 

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 / Canvas.

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:

  • interpret and comply with industry regulations and codes of practice
  • analyse client’s needs, financial situation and risk profile, and prepare appropriate strategies or solutions relating to managed investments
  • provide accurate and ethical advice on managed investment products and services
  • implement the plan, policy or transaction once agreed by the client and complete documentation accurately.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must satisfy generic and specialist knowledge requirements relevant to the products and activities in which advice is given.

Generic knowledge  

  • analyse and provide an overview of the economic environment including:
    • characteristics and impact of economic and business cycles
    • interest rates and exchange rates
    • inflation
    • government monetary and fiscal policy
  • analyse and provide a detailed explanation of the operation of financial markets including:
    • roles played by intermediaries and issuers
    • structure and interrelationships within the financial markets
    • interrelationship between industry sectors
  • outline financial products, including:
    • concept of a financial product – general definition, and specific inclusions and exclusions
    • types of financial investment products
    • types of financial risk products.

 Specialist advice 

  • provide a detailed explanation of managed investment products including:
    • concept of managed investments
  • range of products offered under managed investments schemes, or a specific product offered under a scheme:
    • property trusts, real estate investment strategies, valuation techniques, property management
    • equity trusts, fixed interest trusts
    • serviced strata schemes
    • primary production schemes
    • film schemes
    • time-sharing schemes
    • types of risks associated with managed investment products
  • outline taxation issues in relation to managed investment products and markets in which they operate
  • discuss the legal environment including disclosure and compliance covering:
    • role of the representative or adviser
    • relevant legal principles relating to the Corporations Act, Australian Securities and Investments Commission (ASIC) Act, Privacy Amendment (Private Sector) Act, Financial Services Reform Act (FSRA) and Competition and Consumer Act
    • relationship between ethics and regulatory requirements including good faith, utmost good faith, full disclosure of remuneration and fees, and any other conflicts of interest which may influence the adviser’s recommendation
    • relevant industry standards and codes of conduct
    • regulators’ guidelines including ASIC Regulatory Guide (RG)146 requirements
    • complaints resolution procedures (external and internal)
  • explain theories of investment, portfolio management and management of investment and risk:
    • investment concepts
    • investment strategies
    • identification of types of risk
    • client risk profile.

Assessment Conditions

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

  • office equipment, technology, software and consumables
  • managed investment product information. 

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

This course is comprised of one single competency.

FNSASICT503 - Provide Managed Investment Advice

You will demonstrate competency by undertaking three assessments, a research and application assignment, workplace simulated project and 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. The assessments aim to enhance your skills and knowledge in types of managed investments in the retail field and in particular the areas of managed investment structures, tax requirements regulatory environment, and the risks associated with such investments and the styles of managing such funds.

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

Assessment Task 1 - Research and Application Assignment – Due Date: 15/08/18 – Week 7

This assessment has been designed for you to further develop your knowledge and skills in the foundation areas of managing investments.

You are required to demonstrate your knowledge by completing a series of theory and problem solving questions that involve research and the application of concepts relevant to managed investments.

The purpose of this assignment is to enhance your understanding and ability to apply the knowledge to practice in the following areas of managing investments.

  1. Establish Clients knowledge about financial  products
  2. Consult client through analysis for further clarification where necessary
  3. Clearly and unambiguously explain proposed transaction  to client
  4. Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs
  5. Clearly explain all fees and costs for ongoing and specifically defined services and check that client understands these details

Assessment Task 2 -  Workplace Simulated Project – Role Play – Due Date: 03/10/18 – Week 13

The purpose of the assessment is to enable you to demonstrate a breadth of understanding across the module material. It assesses the knowledge you have obtained through undertaking the topics, your communication skills in presenting that knowledge and your problem-solving skills in answering the questions posed in a fact find meeting with the simulated client in the “Practice Firm”.

For this assessment task you are to you are required to complete two Parts 1 (A & B) and Part 2.

 Part 1 (A and B) – requires you to prepare a Fact find for a simulated client of the Swanston Banking Group (Practice Firm) and identify the key planning issues that will need to be addressed by the client.

 Part 2 – requires you to conduct a meeting with the client explaining the key issues identified and outline the next steps in the financial planning process.

The workplace simulated project is linked to a simulated workplace environment “the practice firm”, referred as Swanston Banking Group Ltd. The practice firm has a physical presence in Building 80, level 6, room 7. The Swanston Banking Group Ltd. has been set up as a simulated publicly listed company in the Financial Services (Banking) industry offering a retail banking and customer service experience of the highest level not offered or matched by its competitors. 

 The products and services offered to its personal customers (simulated clients) include banking and investment products and financial services such as bank accounts and debit cards, savings and investment accounts, credit cards, travel money cards, overseas and local money transfers, foreign exchange, superannuation, home and personal loans and Insurance.

The Swanston Banking Group has a website for prospective clients and an employee portal via the Learning Management System (Learning Hub). As online students you will be required to download simulated client files from the employee portal.

 For this project you will assume the role of a financial planner at the Swanston Banking Group Ltd (Practice Firm) and follow the company policies and procedures as if you were a real employee of the bank.  You will need to access a specific simulated client file which will include client details, background of their particular circumstances, assets and liabilities statement, a bank statement, pay slips and a superannuation statement.

 You will use “Advice Tools” stored in the employee portal throughout this module. The tools mirror those used in industry and will prepare you to adapt to industry practice and link your studies to the workplace. For the purpose of this module, you will be required access the Fact Find as well as any other applicable documents which can be used to assist the fact find process including: Authority to Access Information (AAI), Best Interest Duty file note (BID), client checklist, client acknowledgement form, fact find and the Financial Services Guide. 

For the first part of the project you will assume the role of the financial planner at the Swanston Banking Group Ltd and you will prepare the fact find based on the information provided in the client file from the employee portal of the bank.  You will further demonstrate your knowledge with a written submission explaining key planning issues that will need to be addressed by the client.

 Once you have successfully completed Part 1, for Part 2 you will be expected to pair with a peer to role play the part of the client. You are to assume the role of the adviser while conducting a meeting with the client. In that meeting, you need to demonstrate strategies that you have developed to build a good rapport with the client and explain the key issues identified that will need to be addressed in the next stage of the financial planning process.

 The main aim of the second part is for you to demonstrate your communication skills in explaining to the client the reasons that they require financial planning advice.

 You need to record the role play using your smart phone or MP4 player and upload it to Google drive and share it with your mentor. For your recording you are required to wear business attire and assume the role of a financial planner conducting a meeting with a client.  You will be provided with time (Week 8) in class, to record your role play with your peers.

Specifically, the aims of this assessment are for you to be able to do the following:

  1. Prepare appropriate a fact find
  2. ask open ended questions to the client to gather information 
  3. explain the financial process
  4. use reference material when explaining the process to the client
  5. collect relevant information for the fact find
  6. identify key planning issues within the client fact find

 

Assessment Task 3 – In Class Supervised Assessment – Date: 19/10/18

For this Assessment Task you are required to demonstrate your knowledge of all the topics covered in throughout the semester from weeks 1 – 14 by completing an open book in class supervised assessment. The assessment is comprised of a series of theoretical and practical questions including: short answer and mini case studies. You will only be permitted to bring a hard copy of the relevant workbook(s) and a calculator to the assessment.

The purpose of this task is to assess your understanding of the concepts and issues included in the topics covered throughout the semester with a focus on the requirements of RG146 specialist are in managed investments.  This assessment will take place during your normal scheduled class time.

You must successfully complete all assessments, Task 1 – Research and Application Assignment Task 2 - Workplace Simulated Project and Task 3 - Supervised Assessment to be deemed competent.

Grading will be applied once you have been deemed competent for this competency.

 


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