Course Title: Conduct financial planning analysis and research
Part B: Course Detail
Teaching Period: Term2 2014
Course Code: BAFI5190C
Course Title: Conduct financial planning analysis and research
School: 650T TAFE Business
Campus: City Campus
Program: C5317 - Diploma of Financial Planning
Course Contact : Sam Tabit
Course Contact Phone: +61 3 9925 1466
Course Contact Email:email@example.com
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
This unit describes the performance outcomes, skills and knowledge required to undertake financial planning analysis and research. It encompasses evaluating a client’s current situation and identifying issues, research requirements and parameters for extracting and analysing information, and summarising research information.
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:
FNSFPL502A Conduct financial planning analysis and research
1. Evaluate the client’s current situation and identify any issues
1.1. Analysis of the integrity of information provided by the client is undertaken
1.2. The client objectives are identified and quantified and tested for viability
1.3. The basis for strategy development is established based on confirmed objectives
3. Extract and analyse information according to research requirements and parameters
2.1. Aims and objectives of research including strategy, product and performance parameters are established against client requirements and expectations with all issues identified
2.2. A wide range of relevant internal and external information resources required for the research are identified and accessed
2.3. Timeframes are established and requests for information prioritised to ensure milestones are met
4. Summarise research information
3.1. Data extraction criteria are established that are relevant to intended use and client requirements
3.2. Trends are identified to provide meaningful information on performance of possible strategies, products and markets
3.3. Risk assessment is made of strategies and products identified through the research
3.4. Financial products are analysed within appropriate timeframes to ensure currency of decision making
3.5. Obtained information is prioritised according to client requirements and expectations
3.6. Issues that require specialist research or advice are identified and appropriate advice obtained
2. Identify research requirements and parameters
4.1. Information on financial strategies and products is collated and checked against research specification
4.2. Written performance, trend and risk analyses are prepared and checked against research specification
4.3. Any qualifications or issues for further research are documented
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.
We expect you to participate and contribute in all scheduled learning activities.
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.
|1||7th of July|| Course requirements , Course support documents |
• Blackboard , • Overview of assessment
requirements including RPF & credit
• Grading * Plagiarism
• Appeals *Extensions
• Feedback *Privacy
• Submission*Resubmission policy
• Where to get support
• Student responsibilities
Overview of Superannuation Industry • The Development of Superannuation in Australia
• Member Choice , • Participants in the
Superannuation Industry, • Long Term Growth Impact , • Asset Allocation , • Risk and Return Trade Off , • Investment Performance ,
• Investment Strategy/Restrictions
|2||14th of July|| The Regulatory Framework •Superannuation Industry (Supervision) Act 1993 |
•Australian Prudential Regulatory ‘ Authority
•Australian Securities & Investments ,Commission
•The Australian Taxation Office ,•Authorised Representatives
|3||21st of July|| The Regulatory Framework |
•Superannuation Industry (Supervision)
•Australian Prudential Regulatory
•Australian Securities & Investments
•The Australian Taxation Office
|4||28th of July|| Contributions to Superannuation |
• Why Contribute to a Superannuation Fund
• Who can contribute?
• Types of Contributions
• Government Superannuation Co contribution for Low Income Earners
|Task 1 - Assessment : Due|
|5||4th of August|| Contributions to Superannuation Funds |
• SGC the Rules
• Tax Treatment of Contributions
• Share dividend Imputation and
• Spouse Contribution Splitting
• Spouse Contributions
|6||11th of August|| Withdrawals from Superannuation |
• Payments Made as a Consequence of Termination of Employment
• Preservation ,• Access to Superannuation
• Conditions of Release of Superannuation Benefits • What is the Meaning of ‘Retirement’
• Employer Eligible Termination,Payments ETP’S
|7||18th of August|| Withdrawals from Superannuation |
•Superannuation Benefits ,•Taxation of superannuation pension ,benefits
•Untaxed Superannuation Schemes ,•Disability Payments ,•Transition to Retirement
|8||25th of August|| Death Benefits, Estate & |
Retirement Planning Issues
• Superannuation Death Benefits
• Death Benefit Nomination – The
Options ,• Taxation of death benefit
• Child Allocated Pensions (CAP)
• Superannuation and Marriage
Breakdown ,• Valid superannuation agreement
• Anti Detriment Payment
|Mid Semester Break||Mid Semester Break|
|9||8th of September|| Payment of Superannuation Benefits as Income Stream|
• Planning for Retirement
• Government key objectives in
• Retirement Income stream products
• Account based income streams
• Non Account Based Income streams
• Term certain annuities & pensions
• Lifetime pensions annuities
• Account-based pensions & annuities
|10||15th of September|| Payment of Superannuation Benefits as Income Stream |
• Term allocated income streams
• Transition to Retirement Income
Streams Comparison of different types
of Income Steam Products
• Income rules for account-based
pensions and Annuities ,• Calculating income requirement for
Products Prior 1 July 2007 & Post 1
July 2007,• Determining taxable component of
pensions & relevant tax offset
• Re-contribution strategy,• Social Security Assessment of Income
|11||22nd of September|| Social Security |
• Treatment of Superannuation and
Rollover Investments,• Withdrawals from a Superannuation,Investment?
• Accessing Superannuation Money,before Retirement
|12||29th of September|| Self Managed Superannuation Fund |
• Background to SMSFs
• What is an SMSF?
• Single Member Funds
• Small APRA Funds
• Who can establish an SMSF?
|13||6th of October|| Self Managed Superannuation Funds |
 Advantages of SMSFs
Where can an SMSF Invest
Considerations in Planning for an SMSF
 Establishing a SMSF
Risk Management Statement
|Task 2 - Case Study : Due|
|14||13th of October||Revision||Revision 3|
|15||20th of October||Test|
|16||27th of October ||Feedback -Re-submissions if required||Task 3 - In class Assessment|
Other materials will be placed on the Blackboard and will be used when directed so by your teacher.
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
This course is co-delivered with the following courses:
BAFI5194C Conduct product research to support recommendations
BAFI 5195C Provide advice in superannuation
Critical aspects of assessment
Evidence of the fololowing is essential:
- comply with relevant legislative and regulatory requirements, relevant industry codes of practice and organisational operating guidelines
- evaluate the client’s current situation and identify issues
- identify research requirements and parameters and extract and analyse information
- use a wide range of available information sources and identify factors which may affect research and accurately summarise research information to test its integrity
- use comprehensive knowledge of available products and services and their associated risks
- accurately document research for financial plans and summarise and prioritise findings that are validated against client requirements.
You are required to complete three tasks
You must successfully complete all three tasks to be deemed competent in this unit.
TASK 1 Assessment (Due Date: End of week 4)
For this Assessment Task you are required to demonstrate knowledge of the financial planning industry by completing a written task provided by your tutor.
TASK 2 - Group Case Study (Due Date: End of Week 13 )
For this assessment task you are required to research and develop strategies based on a case study covering topics covered in all subject areas, financial planning, insurance, superannuation and investments.
This is a group assessment.
TASK 3 - In - Class Assessment (Due Date: End of Week 16 )
For this assessment task you need to undertake a open book class based assessment that covers all the material covered this course.
This assessment will take place during your normal class time.
- 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: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
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: http://www.rmit.edu.au/browse;ID=g43abm17hc9w
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
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: http://rmit.edu.au/browse;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