Course Title: Provide advice in Financial Planning

Part B: Course Detail

Teaching Period: Term1 2015

Course Code: BAFI5189C

Course Title: Provide advice in Financial Planning

School: 650T Vocational Business Education

Campus: City Campus

Program: C5317 - Diploma of Financial Planning

Course Contact : Sam Tabit

Course Contact Phone: +61 3 9925 1466

Course Contact

Name and Contact Details of All Other Relevant Staff

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

Pre-requisites to this course:

FNSFPL501A - Comply with financial planning practice ethical and operational guidelines and regulations

FNSFPL502A - Conduct financial planning analysis and research

FNSFPL503A -Develop and prepare financial plan

FNSFPL504A - Implement financial plan

FNSFPL505A -Review financial plans and provide ongoing service

There are no co-requisites to this course.


Course Description

This unit when combined with industry specified units has been specifically designed to satisfy the skill requirements of current Australian Securities and Investments Commission (ASIC) regulation (Financial Services Reform Act) at Tier 1 (Diploma) level

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSASICZ503A Provide advice in Financial Planning


4. Develop appropriate strategies and solutions

Performance Criteria:

4.1. An appropriate strategy to provide for identified needs and outcomes is determined from analysis of products, client risk profile and assessment of clients' needs

4.2. Relevant research, analysis and product modelling is conducted

4.3. Appropriate solution (plan, policy or transaction) is drafted for presentation to client


6. Negotiate financial plan/policy/transaction with client

Performance Criteria:

6.1. Concerns and/or issues the client has regarding the proposed plan/policy/transaction are discussed and clarified

6.2. Confirmation is sought from client that they understand the proposed plan/policy/transaction


8. Complete and maintain necessary documentation

Performance Criteria:

8.1. Proposal and all other statutory and transactional documents are completed and signed off by the client

8.2. Copies of appropriate documentation and the signed agreement are exchanged


2. Identify client's objectives, needs and financial situation

Performance Criteria:

2.1. A range of communication and interpersonal skills are used to gather the clients' personal , financial and business details

2.2. Client's needs are identified by encouraging expression of their objectives and goals (short-, medium- and long-term goals as relevant to the product)

2.3. Product risk profile of the client is identified

2.4. Client's attitudes and expectations of cash flow and relevant taxation obligations are obtained


3. Analyse client's objectives, needs, financial situation and risk profile

Performance Criteria:

3.1. An assessment of client needs is undertaken, utilising all information gathered and taking into account client's product expectations and specific needs

3.2. Client is consulted throughout the analysis for further clarification where necessary

3.3. The need for specialist advice is analysed and/or client is referred to appropriate adviser for higher level/specialist advice if required

3.4. Product risk profile of the client is assessed and agreed

3.5. Understanding of the ASIC identified generic and specialist knowledge relevant to the products being offered, as detailed in the evidence guide, is demonstrated


5. Present appropriate strategies and solutions to client

Performance Criteria:

5.1. Product knowledge appropriate for the service or product offered is demonstrated when presenting the product

5.2. The proposed transaction is explained and discussed with the client in a clear and unambiguous way

5.3. Relevant details, terms and conditions of product/service are reinforced to client

5.4. Impacts and possible risks of the solution are disclosed in a clear and concise manner to the client

5.5. Client is provided with written supporting documentation and guided through the key aspects of the documentation


7. Coordinate implementation of agreed plan/policy/ transaction

Performance Criteria:

7.1. The clients' formal agreement to the proposed plan/policy/transaction is gained

7.2. Associated fee and cost structures are clearly explained and confirmation of understanding gained from the client

7.3. Timeframes for execution and processing are clearly explained and confirmation of understanding gained from the client


9. Provide ongoing service where requested by client

Performance Criteria:

9.1. Type and form of ongoing service; including reporting on performance and review of plan/policy/transaction is agreed with the client

9.2. Fees and costs for ongoing and specifically defined service are clearly explained and confirmation of understanding gained from the client

9.3. Ongoing service is provided as required


1. Establish relationship with client

Performance Criteria:

1.1. A range of communication and interpersonal skills are used to establish the knowledge level of client

1.2. Enquiries in relation to products and services are responded to by explaining the range of products and services available and their relevant fee and charging methodology

1.3. Client is informed of the role of the adviser and the licensee/principal responsible for the adviser’s conduct

1.4. Familiarity with the procedures for complaints handling and the circumstances in which they should be engaged is demonstrated

Learning Outcomes

Details of Learning Activities

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

• 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;

The collaborative classroom based activities will include group discussion, group problem solving activities, opportunities to practice skills in a s simulated work environment

We expect you ro participate and contribute in all scheduled learning activities.


Teaching Schedule

Induction Session

Prior to training commencement a program level induction session will be conducted that comprises the following:
• Program overview and requirements
• MyRMIT/Blackboard
• Overview of assessment requirements
• Pre-training Review including: Recognition of Prior Learning and Credit Transfers and Assessment of current skills and knowledge
• Competency/grading criteria
• Plagiarism
• Appeals
• Extentions
• Feedback
• Privacy
• Submission Requirements
• Resubmission policy
• Where to get support
• Student responsibilities

Students will be provided with feedback throughout the semester.



Date                            Topic                                             Assessment      
 1 9 Feb 2015

Introduction to the Course including:
• Course requirements
• Course support documents Course Blackboard access
• Accuracy of enrolment
• Assessment requirements/cover sheets including RPF & credit
• Reminder re PLagiarism
• Reminder re Appeals
• Extensions and Resubmissions
• Feedback in the course
• Reminder re re submission requirements
• Getting help


Introduction to Financial Planning

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


16 Feb 2015

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


323 Feb 2015Introduction to Taxation
• Income Tax
• Capital gains Tax
• Goods and Services Tax
• Fringe Benefits Tax
• Tax Effective Structures.

Task 1 - In Class Assessment - Due
4  2 March 2015Managed Investments

 Regulations
 Costs & Benefits
 Investment Techniques


Task 2 - Case Study Handout distributed
If required, resubmission for this assessment is due by no later than end of week 16
5 10 March 2015Direct Investments
• Financial Products, including:
o Cash and Fixed Interest
o Property
o Shares
o Alternative investments
6  16 March 2015Analysis of Share Investments
 Risk & Return
 Dividend Growth Model
7  23 March 2015Assessment task 2  
830 March 2015The 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

   Mid semester  2 – 8 April 
9 13 April 2015Development of a Personal Plan
 The Statement of Advice
 Ethical Considerations
 Effective Communication
Planning for Implementation
10  20 April 2015Development of a Personal Plan

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

11  27 April 2015Social Security
 Eligibility – Means Test
 Assets Test
 Deeming
12 4 May 2015Social Security
• Eligibility – Strategies to achieve benefits
• Discussing Individual Needs
• Types of Benefits

1311 May 2015 Estate Planning
 Wills & Probate
 Taxation
 Power of Attorney
 Task 2 - Case Study due
1418 May 2015•• Estate Planning, • Intestacy, • Trusts
• Structures, Estate/Non estate assets
1525 May 2015Revision 
 16 1 Jun2015 Final Class assessment task 3

 Task 3 - In Class Assessment - Due 

 17 8 Jun 2015 Re-submissions if required and feedback of Assessments 

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.


Other Resources

Students have access 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 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

Co-delivered and co-assessed courses:

This course is codelivered  and co-assessed with the following courses:

BAFI5191C Develop and prepare a financial plan

MKTG6075C Provide appropriate services, advice and products to clients

ACCT5336C Analyse financial market products fro clients

Critical aspects of assessment:

Evidence of the following is essential:

  • apply knowledge of industry regulations and codes of practice, financial products and services, financial markets and characteristics, roles of other specialist providers and licensees, as well as the impacts of taxation on the clients financial requirements for the specific products offered.

NB for insurance products, competency in this unit is subject to the staff members’ approval/authority to accept the transfer of risk.


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 - In Class Assessment (Due Date Week 3)<o:p></o:p>

For this Assessment Task you are required to demonstrate your knowledge by completing an open book in class assessment comprised of a series of theoretical and practical questions including a mini case study. This assessment will take place during your normal scheduled class time.<o:p></o:p>


Task 2 – Case Study (Due Date Week 13)<o:p></o:p>

For this assessment task you are required to work in groups of two to three students. You will work together on a case study that addresses a number of areas of financial services. You will undertake research and develop strategies based on a case study covering topics covered in from week 1 to week 9. <o:p></o:p>

This assessment is divided into two parts:<o:p></o:p>

Part 1<o:p></o:p>

Your task is to take the role of a financial adviser and provide a client(s) with a report that addresses a number of items relevant to this course including cash flow, managed funds compared to direct investment, investment styles, strategies that would be considered based on the clients objectives and current assets and liabilities.<o:p></o:p>

Part B

Once you have completed the written assessment you will be required to demonstrate your adviser communication skills and present your recommendations, responses and research to a client in a role play.<o:p></o:p>

You will be expected to clearly identify the part(s) of this assessment that you contributed. <o:p></o:p>


TASK 3 - In Class Assessment (Due Date Week 16)<o:p></o:p>

For this assessment task you need to undertake an open book in class assessment based on all material covered in this course (Weeks 1 -15).


Assessment Matrix


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 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 each assessment task 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.

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 Information:
Form to use:

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:;ID=g43abm17hc9w
Form to use:

Resubmissions (VET Programs):

If you are found to be unsuccessful in a Course Assessment Task you will be allowed one resubmission only. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission. The highest grade you will receive if your resubmission is successful is “CAG”.

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.
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:

More Information:;ID=7usdbki1fjf31

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
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