Course Title: Review financial plans and provide ongoing service

Part B: Course Detail

Teaching Period: Term1 2013

Course Code: BAFI5188C

Course Title: Review financial plans and provide ongoing service

School: 650T TAFE Business

Campus: City Campus

Program: C5317 - Diploma of Financial Planning

Course Contact : Michael Elliot

Course Contact Phone: +61 3 9925 5519

Course Contact Email:michael.elliot@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 40

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 performance outcomes, skills and knowledge required to monitor the implementation and progress of financial plans and establish ongoing client service arrangements.

It encompasses discussing and confirming arrangements and procedures for ongoing service with clients, establishing procedures for providing ongoing service and undertaking or supervising review of a financial plan.


This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
 


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSFPL505A Review financial plans and provide ongoing service

Element:

2. Establish procedures for providing ongoing service
2.1. Personnel to implement each action in the ongoing service arrangements are identified and briefed
2.2. Internal and external documentation requirements are identified and followed
2.3. Key revision dates are diarised and client contact arrangements established
2.4.Monitoring procedures are established for critical timings and priorities and client objectives are periodically reviewed
 

Performance Criteria:

2.1. Personnel to implement each action in the ongoing service arrangements are identified and briefed
2.2. Internal and external documentation requirements are identified and followed
2.3. Key revision dates are diarised and client contact arrangements established
2.4.Monitoring procedures are established for critical timings and priorities and client objectives are periodically reviewed

 

Element:

1. Discuss and confirm arrangements for ongoing service
1.1. Ongoing service options are identified for the client and appropriate options recommended
1.2. The ongoing standard of service is proposed for the client including quality parameters, reporting frequency and arrangements for reviews and client initiated changes
1.3. Fees and charges for ongoing service are explained and confirmed to the client
1.4.An agreement for ongoing service is developed when agreement is reached
 

Performance Criteria:

1.1. Ongoing service options are identified for the client and appropriate options recommended
1.2. The ongoing standard of service is proposed for the client including quality parameters, reporting frequency and arrangements for reviews and client initiated changes
1.3. Fees and charges for ongoing service are explained and confirmed to the client
1.4.An agreement for ongoing service is developed when agreement is reached

 

Element:

3. Undertake and/or supervise review of financial plan
3.1. Arrangements are established for reviewing the ongoing relevance and performance of the financial plan
3.2. Arrangements are made for reviewing quality of ongoing service with the authorised representative ensuring the quality of ongoing service meets organisation and regulatory requirements
3.3. Instructions are issued to internal and external personnel as per plan requirements with checks and follow-ups made on lodgement of documentation to ensure plan timings are met
3.4. Fees and charges are obtained by the authorised representative and processed according to organisation and legislative requirements
3.5.Clear arrangements are established for clients to contact representatives at any time with concerns or queries
 

Performance Criteria:

3.1. Arrangements are established for reviewing the ongoing relevance and performance of the financial plan
3.2. Arrangements are made for reviewing quality of ongoing service with the authorised representative ensuring the quality of ongoing service meets organisation and regulatory requirements
3.3. Instructions are issued to internal and external personnel as per plan requirements with checks and follow-ups made on lodgement of documentation to ensure plan timings are met
3.4. Fees and charges are obtained by the authorised representative and processed according to organisation and legislative requirements
3.5.Clear arrangements are established for clients to contact representatives at any time with concerns or queries

 


Learning Outcomes



Details of Learning Activities

This unit is delivered using a blend of classroom based and self -paced learning activities.


Teaching Schedule

Week                                           Week                                                     Comm                                                                                                                                                                  Topics                                                                                                                    Assessment
1 Pre-training review:
• RPL /LLN
Familiarisation with:
• Program
• Services/facilities
• Other students
• Teacher(s)
• Where to get support
• Student responsibilities
• Course requirements
• Course support documents
• Pre-reading
• Blackboard
• Overview of assessment requirements
• Grading
• Plagiarism
• Appeals
• Extensions
• Feedback
• Privacy
• Submission requirements
• Resubmission policy
 
 
2 Chapter 1
Diploma of Financial Planning
Insurance Planning Module
 
 
3 Chapter 1
Diploma of Financial Planning
Insurance Planning Module
 
Assessment on Topics from weeks 1 and 2
Short Answer Questions Grading (CA/NYC)
 
4 Finalise Chapter 1
Diploma of Financial Planning
Insurance Planning Module
Assessment 1 feedback
 
 
5 Chapter 2
Diploma of Financial Planning
Insurance Planning Module
 
 
6 Chapter 2 (continued)
Diploma of Financial Planning
Insurance Planning Module
 
 
7 Chapter 2 (continued)
Diploma of Financial Planning
Insurance Planning Module
 
27th (Wednesday)last day of teaching before Easter break. Classes resume Thursday 4th of April
                                                                                                         Mid semester break (28th March to 3rd April)
8 Finalise Chapter 2
Diploma of Financial Planning
Insurance Planning Module
 
Assignment Handed out including discussion on assessment requirements.
9 Chapter 3
Diploma of Financial Planning
Insurance Planning Module
 
 
10 Chapter 3
Diploma of Financial Planning
Insurance Planning Module
 
 
11 Finalise Chapter 3
Diploma of Financial Planning
Insurance Planning Module
 
Electronic Draft of assignment to be submitted to teacher in class.
12 Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
Final Assignment discussion
With teacher
 
13 Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
Final Assignment discussion
With teacher
 
14 Finalise Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
Continued as per above
Assignment due (CA/NYC)
 
15 Finalise Chapter 4
Diploma of Financial Planning
Insurance Planning Module
 
 
16 Re-submissions if required 
17 Feedback 


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

Assessment may incorporate a variety of methods including technical requirements documentation, homework, assignments, group and/or individual projects, in class exercises, written and practical tests, problem solving exercises, presentations, direct observation of actual and simulated work practice, presentation of a portfolio of evidence which may comprise documents, and/or photographs and/or video and audio files, review of products produced through work-based or course activities.

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. You 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 ( Week 3)
This will consist of an assessment consisting of short answer questions. CA/NYC

TASK 2 (Week 13) CA/NYC
An individual assignment requiring students to conduct research into risk management.
The above task will be presented in report format (approx. 300- 500 words per recommendation).

TASK 3 (Week 15) CA/NYC
A two hour open book assessment covering Topics covered in Weeks 3 to Weeks 14
 


Assessment Matrix

Course Overview: Access Course Overview