Course Title: Behavioural Financial Advice

Part A: Course Overview

Course Title: Behavioural Financial Advice

Credit Points: 12.00


Course Code




Learning Mode

Teaching Period(s)


City Campus


615H Accounting


Sem 2 2020

Course Coordinator: Daniel Richards

Course Coordinator Phone: +61 3 9925 5395

Course Coordinator Email:

Course Coordinator Location: Melbourne City Campus, Building 80, Level 9, room 46.

Course Coordinator Availability: Appointment via email

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

This course focuses on fundamental aspects of financial planning; Behavioural aspects of client decision making and communication with clients.

The course maps to the FASEA’s National Financial Planning Curriculum 'Behavioural Finance Client and Consumer Behaviour, Engagement and Decision Making ' core knowledge area which includes: developing an understanding of behavioural biases, interactions between human capital and financial capital, efficiency in financial markets and behavioural aspects of client engagement.  It also covers communication techniques of financial planners where they are required to: collect information from clients, set goals with clients, assess client’s risk profiles, manage client relationships and resolve client’s conflicts.  These skills are employed differently to clients based on their risk profiles, level of financial literacy and behavioural patterns.

Objectives/Learning Outcomes/Capability Development


On completion of this course you will be able to:


1. Describe the different approaches client(s) may prefer in decision-making and analyse the interactions between human decision and financial capital.

2. Evaluate the linkages between behavioural biases and decision-making and implications for investment decisions made by client(s).

3. Apply communication techniques in a professional context based on knowledge of the psychology of client engagement in the financial services

4. Apply behavioural finance in the context of financial planning decisions associated with scarce resources, limiting factors and pricing.

Overview of Learning Activities

Your learning will be supported through various activities which may include quizzes; assignments; prescribed readings; sourcing, researching and analysing specific information; solving problems; debating selected topics on discussion forums and producing written work.

Overview of Learning Resources

Various learning resources are available online through MyRMIT Studies\Canvas. The lecture notes and workshop notes are posted on Canvas.

Resources are also available online through RMIT Library databases and other facilities. Visit the RMIT library website for further details. Assistance is available online via our chat and email services, face to face at our campus libraries or via the telephone on (03) 9925 2020.

Additional resources and/or sources to assist your learning will be identified by your course coordinator and will be made available to you as required during the teaching period. 

Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 25%
Linked CLOs: 1, 2, 3

Assessment Task 2: 35%
Linked CLOs: 2, 3, 4

Assessment Task 3: 40%
Linked CLOs: 1, 2, 3, 4

Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.