Course Title: Provide appropriate services, advice and products to clients

Part B: Course Detail

Teaching Period: Term2 2012

Course Code: MKTG6075C

Course Title: Provide appropriate services, advice and products to clients

School: 650T TAFE Business

Campus: City Campus

Program: C5261 - Diploma of Financial Planning

Course Contact : Sam Tabit

Course Contact Phone: +61 3 9925 1446

Course Contact Email:sam.tabit@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Clem Simonetto: Senior Educator

clem.simonetto@rmit.​edu.au

Nominal Hours: 150

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

There are no pre-requisites to this course but it is co-delivered with:
FNSASICZ503A Provide advice in financial planning
FNSFPL503A Develop and prepare financial plan
FNSFMK502A Analyse financial market products for client

Course Description

This course looks at client rapport  through presentation of appropriate solutions.

Negotation skills are also addressed


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSIAD501A Provide appropriate services, advice and products to clients

Element:

Analyse client's needs, objectives and financial situation to identify appropriate solutions

Performance Criteria:

3.1. All information from the fact find process is used in analysing client needs and determine an appropriate strategy to provide for identified needs and outcomes
3.2. Specialist advice is sought if required to address issues that professional judgement indicates may require further consideration.
 

Element:

Complete and maintain necessary documentation

Performance Criteria:

6.1. Proposal and other documents are completed and, where appropriate, signed off
6.2. Client records are created or updated
6.3. Contract variations are completed where applicable
6.4. Confirmation including relevant documentation and contract variation is provided to the client and final plan implemented
6.5. Reference material is organised in a form which facilitates the selection of appropriate products to meet client's needs and updated on a regular basis
 

Element:

Create rapport with client

Performance Criteria:

1.1. Disclosure of capacity to client is consistent with code of practice requirements and client concerns, if any, are identified and responded to appropriately
1.2. Active listening skills are demonstrated in dealings with clients and services explained to them orally or, if necessary, in writing in a clear and unambiguous way, avoiding jargon and in language appropriate to the receiver
 

Element:

Identify client's needs, objectives and financial situation

Performance Criteria:

2.1. The client is encouraged to express and clarify their attitudes, views, feelings and objectives
2.2. Relevant personal, financial and business details are collected from the client using an appropriate fact finder
2.3. The client's short-, medium- and long-term objectives and investment risk profile are identified using an appropriate fact finder
2.4. The client's preferences and concerns regarding options are identified using an appropriate fact finder where applicable and priorities identified and agreed upon
2.5. The fact finder is completed in accordance with the code of practice
 

Element:

Negotiate effectively

Performance Criteria:

5.1. Decisions are clearly explained to the client in accordance with company policy and they are assisted to make appropriate decisions regarding solutions to their needs and objectives
5.2. Restraint and composure are exercised when dealing with conflict situations involving clients
5.3. Communication channels are maintained when dealing with complaints and following complaint handling procedures
 

Element:

Present appropriate solutions to client

Performance Criteria:

4.1. Recommendations and features of the client advice record are explained and discussed with the client in a clear and unambiguous way with product knowledge appropriate for the service or advice offered demonstrated
4.2. Impact of key aspects of the recommendations are disclosed in a clear and concise manner to the client and they are guided through the key aspects of the client information brochure prior to signing the proposal
4.3. Requirements to put the recommended program into effect are explained to the client and a copy of the fact finder is provided to the client if requested
4.4. Confirmation is sought from client that they understand the recommendations presented
 

Element:

Provide after sales service

Performance Criteria:

7.1. After sales service to be provided is clearly defined, and is communicated to the client and executed as needed
7.2. Fact finder, recommendations and client advice records are periodically reviewed
7.3. Any changes to the client's situation since previous recommendations were made are identified and acted upon at subsequent reviews
7.4. Areas of client dissatisfaction are acted upon in an ethical and timely manner and addresses code of practice requirements
 


Learning Outcomes



Details of Learning Activities

Completion To achieve the learning outcomes of the course students are required to participate in the learning activities listed below:
• Attendance at and note taking during teacher directed learning (scheduled classes);
• Reading of and note taking from the prescribed textbook and other references;
• Completion of tutorial exercises prior to each workshop. Tutorial exercises consist of practical problems, short answer questions, multiple choice, case studies and extension exercises;
• Attendance, participation and discussion in class (tutorials);
• Optional consultation with academic staff;
 


Teaching Schedule

 

Week

                           

Date                            Topic                                             Assessment      
 025th JuneIntroduction to Financial Planning

 The Concept of Financial Planning
 Personal Financial Statements,
 Establishing Financial Goals and
Time Frames,
 Risk and Return
 

 
1

 2nd July

Financial Planning Skills
Obtaining and Analysing Customer Data
 Financial mathematics
 Diversification

 

 
29th JulyIntroduction to Taxation
• Income Tax
• Capital gains Tax
• Goods and Services Tax
• Fringe Benefits Tax
• Tax Effective Structures.
 
Task 1-

Class based – Writing activity.
CA/ NCA
 

316th JulyManaged Investments

 Regulations
 Costs & Benefits
 Investment Techniques
 

 
423rd julyDirect Investments
• Financial Products, including:
o Cash and Fixed Interest
o Property
o Shares
o Alternative investments
 
 
5 30rd JulyStudent Study Week30 July - 6 Aug
66th AugustAnalysis of Share Investments
 Risk & Return
 CAPM
 Dividend Growth Model
 
 
713th AugustAnalysis of Share Investments

 Risk & Return
 CAPMl
 

 
820th AugThe Financial Planning Profession
 The Role of the Financial Planner

 The Steps in Preparing a Plan
 The Regulatory Environment
 The Legislative Environment
 Complaints Schemes
Codes of Ethics
 

Task 2 Handout- Individual Assessment
You will receive individual feedback. CA/ NCA
 
 Week 27th AugustMid semester break 
93rd SeptemberDevelopment of a Personal Plan
 The Statement of Advice
 Ethical Considerations
 Effective Communication
Planning for Implementation
 
 
10 10th  SeptemberDevelopment of a Personal Plan

 The Statement of Advice
 Ethical Considerations
 Effective Communication
 Planning for Implementation
 

 
11 17th SeptemberSocial Security
 Eligibility – Means Test
 Assets Test
 Deeming
 
 
1224th SeptSocial Security
• Eligibility – Strategies to achieve benefits
• Discussing Individual Needs
• Types of Benefits
 
Task 2 – Due – 24 September
131st Oct Estate Planning
 Wills & Probate
 Taxation
 Power of Attorney
 
 
148th October• Estate Planning
• Intestacy
• Trusts
• Structures
 Estate/Non estate assets
 
 
1515th tOctRevision 
1622nd OctoberFinal Assessment

 

Assessment Task 3- In Class closed book

1729th OctoberFeedback & Re-submissions if required 


Learning Resources

Prescribed Texts

Students have access to RMIT’s Financial Planning Course Notes that will be utilised throughout the semester for class work and self study purposes. These can be downloaded from Blackboard.


References


Other Resources

Students have acces to Blackboard which includes:

1- Online activities

2- Self paced learning

3- Readings

4- Course material and external resources to access


Overview of Assessment

Assessment may incorporate a variety of methods including written tests, a group assignment and final assessment.

Tests are closed book and consist of multiple choice, practical exercises and short answer questions.

The group assignment requires students to research the role and function of a financial institution or a major contemporary issue relating to the financial system and of concern to consumers.

Students are advised that they are likely to be asked to personally demonstrate their assessment work to their teacher to ensure the relevant competency standards are being met. Students will be provided with feedback throughout the course to check their progress.


Assessment Tasks

Assessment Tasks

You are required to complete 3 tasks. You must successfully complete all 3 tasks to be deemed competent in this unit.

TASK 1 (Due Date: In class week 3)

For this Assessment Task you are required to sit a demonstrate knowledge of the financial planning industry by completing a number of short answer and multiple choice questions. This task will be Class based on Writing activity.

 

TASK 2 (Due Date: End of Week 10)

For this assessment task you are required to research and develop strategies based on a case study covering topics covered in from week 1 to week 9. This is an individual assessment.


TASK 3 (Due Date: End of Week 16)

For this assessment task you need to undertake a closed book class based assessments based on all material covered and element in this unit.

 


Assessment Matrix

Students will be provided of assessments that are linked to the elements for this unit of competency.

Other Information

Submission Requirements

Assessment tasks need to be submitted via Blackboard.

You should:
• Ensure that you submit assessments on or before the due date. If your performance in the assessment is affected by unexpected circumstances, you should consider applying for Special Consideration. Information on the process and application forms is available at http://rmit.edu.au/browse;ID=ls0ydfokry9rz website.
• 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 a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of work for assessment is available on blackboard.
• 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. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.

Turnitin Assignment Software for submissions

Before handing in an assignment students are required to also submit their assessment through the turnitin software before final submission to the teacher. The teacher will provide more information and login details during the semester. http://turnitin.com/en_us/home

Marking Guide (competency):

Vocational Education and Training (VET) is based on current industry needs and the focus on preparing you for the workplace. Because VET courses are informed by practical application of knowledge and skills, they are based on a system known as ‘competency based training’ (CBT). So when you are assessed in VET it is about whether you are competent to do the job, as well as having a firm grasp on the knowledge and skills required to do that job, as opposed to traditional curriculum based education settings that are often based on knowledge retention.

You need to demonstrate you are competent in each element of the unit of competency you are studying.

You will receive feedback on each assessment task that will inform you whether you are competent or not and how well you are performing. Once competent in all elements of the unit you receive a competency grading.

Please refer to the Final Grades table below.

Marking Guide (Grading)

After achieving competency we then grade your performance in the unit; this gives you the opportunity to have the level of your performance formally recognized against industry standards and employability skills.


The grading is according to the following criteria:


1. LEVEL OF INDEPENDENCE, INITIATIVE, ENTERPRISE AND PERFORMANCE OF WORK TASK

We are looking for a high level of ability to complete all tasks independently as per the specifications as well as demonstrating a high level of initiative in your approach to developing and maintaining an OHS system.

2. DEMONSTRATED BREADTH OF UNDERPINNING KNOWLEDGE AND A WILLINGNESS TO CONTINUE LEARNING

We are looking for depth of understanding of the key concepts and knowledge required in managing an OHS system. You should be able to demonstrate a thorough understanding of all applicable OHS legislative requirements in all the assessment tasks.

3. TECHNIQUES & PROCESSES, TECHNOLOGY SKILLS AND PROBLEM SOLVING

We are looking for appropriate use of technology to assist in presenting all tasks clearly and suitable for the intended audience. You also need to show an understanding of the kinds of problems that can arise in managing OHS systems and how these might be addressed.

4. WORK ORGANISATION, PLANNING AND SELF MANAGEMENT

We expect to see ongoing uploading of information into Pebble Pad that is relevant to the unit, full utilisation of Pebble Pad and Blackboard as per course requirements and timely submission of all required assessment tasks.

5. COMMUNICATION, PEOPLE NETWORKING, LANGUAGE AND INTERPERSONAL SKILLS AND TEAMWORK

We expect to see contributions to relevant discussions and scheduled Collaborate sessions. In addition your tasks should demonstrate a very good understanding of strategies for a collaborative approach to OHS management in the workplace.
Final Grades table:


CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
 

Course Overview: Access Course Overview