Course Title: Provide advice in managed investments

Part B: Course Detail

Teaching Period: Term2 2020

Course Code: BAFI5221C

Course Title: Provide advice in managed investments

School: 650T Vocational Business Education

Campus: City Campus

Program: C5343 - Diploma of Financial Planning

Course Contact: Callie Harvey

Course Contact Phone: +61 3 9925 5772

Course Contact Email: callie.harvey@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

John Calabro

john.calabro@rmit.edu.au  

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

None

Course Description

This unit describes the skills and knowledge required to analyse client needs and provide advice ethically and professionally on managed investments in compliance with industry regulations and codes of practice. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

It applies to individuals who use well-developed interpersonal skills and excellent communication and self-management skills to perform an advisory role in managed investments. Refer to the FNS Implementation Guide Companion Volume or ASIC for specific guidance on requirements.               


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSASICT503 Provide advice in managed investments

Element:

1. Establish relationship with client and identify client’s objectives, needs and financial situation

Performance Criteria:

1.1 Establish client’s knowledge about financial products and services

1.2 Respond to enquiries about managed investment products and services by explaining range of products and services available and their relevant fee and charging methodology

1.3 Inform client about role of adviser and licensee or principal responsible for adviser's conduct, including procedures for complaints handling and circumstances in which they should be engaged

1.4 Ask about client’s objectives and goals, and obtain personal, financial and business details to identify client needs

1.5 Establish product risk profile of client, including their expectations of cash flow and relevant taxation obligations

Element:

2. Analyse client’s objectives, needs, financial situation and risk profile to develop appropriate strategies and solutions

Performance Criteria:

2.1 Undertake assessment of client needs using all information gathered, taking into account client’s product expectations and specific needs

2.2 Consult client throughout analysis for further clarification where necessary

2.3 Analyse need for specialist advice and ensure client is referred to appropriate adviser for higher level or specialist advice if required

2.4 Assess and confirm product risk profile of client demonstrating ASIC identified generic and specialist knowledge relevant to products being offered

2.5 Determine appropriate strategy to provide for identified needs and outcomes based on analysis of products, client risk profile and assessment of client needs

2.6 Conduct relevant research, analysis and product modelling and draft appropriate solution, plan, policy or transaction for presentation to client 

Element:

3. Present appropriate strategies and solutions to client and negotiate financial plan, policy or transaction

Performance Criteria:

3.1 Apply appropriate knowledge for service or product offered when presenting product

3.2 Clearly and unambiguously explain proposed transaction to client

3.3 Reinforce all relevant details, terms and conditions of product and service

3.4 Disclose impacts and possible risks of solution in clear and concise manner

3.5 Provide supporting written documentation and guide client through key aspects of documentation

3.6 Discuss and clarify any concerns or issues client has regarding proposed plan, policy or transaction

3.7 Confirm that client understands proposed plan, policy or transaction

Element:

4. Agree to plan, policy or transaction and complete documentation

Performance Criteria:

4.1 Obtain client’s formal agreement to proposed plan, policy or transaction

4.2 Clearly explain and confirm that client understands all associated fees, cost structures and timeframes for execution and processing

4.3 Ensure that proposal and all other statutory and transactional documents are completed and signed off by client

4.4 Exchange copies of signed agreement and other appropriate documentation

Element:

5. Provide ongoing service where requested by client

Performance Criteria:

5.1 Ensure that type and form of ongoing service, including reporting on performance and review of plan, policy or transaction, is agreed with client

5.2 Clearly explain all fees and costs for ongoing and specifically defined services and check that client understands these details

5.3 Provide ongoing service as required 


Learning Outcomes



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 the Canvas learning management system and include your contribution to discussion threads, project portfolios, 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.

Remote Learning

This course will be delivered via our existing learning management system, Canvas.  This means that, for the foreseeable future, there will be no face-to-face classes in any of the units for which you are enrolled.

Classes in each of your units will still take place in their normal scheduled time-slots, but instead of being conducted in a face-to-face mode, your teachers will utilise the Collaborate Ultra platform to deliver ‘live’ online classes.  These classes delivered online will not only provide you with the required learning materials for those sessions, but they will also enable interactions with your teachers and fellow students via forums or discussion boards.


Teaching Schedule

 This course is comprised of one competency: FNSASICT503/BAFI5221C Provide advice in managed investments.

(The following schedule is subject to change)

Course Schedule: Provide Advice in Managed Investments, Semester 2, 2020

Week

Topic

Readings and Activities

Assessment

Week 1

 

Introduction to Managed Investments

Course Workbook

Managed Investments, Chapter 1 

 

Week 2

 

Characteristics of Managed Investments

Course Workbook- Chapter 1 

Introduce -Assessment 1  

Week 3

 

Advantages and Disadvantages of Managed Investments

   

Week 4 

 

 Types and Structure of Managed Investments

Course Workbook

Managed Investments, Chapter 3

 

Week 5

 

Taxation

Managed Investments, Chapter 2

 

Week 6

 

Managed Investment Products

Course Workbook

Managed Investments, Chapter 2

Financial Planning Advice, Chapters 2, 5& 6

 

Week 7 

 

Investment Management Process

Course Workbook

Managed Investments, Chapter 1 & 2

Assessment 1 Due

Week 8 

 

Investment Management Styles

Course Workbook

Managed Investments, Chapter 1 - 4

 

 

 

Mid-Semester Break-  Monday- August 31 - Friday September 4th 2020

 

 

Week 9 

Performance Measurement and Unit pricing and advanced strategies for Managed  funds               

 

 

Week 10

 

Managed Products

 

 

Week 11

 

Property Securities - Funds

 

 

Week 12

 

Assessment 2 Workshop

 

 

Week 13

 

Specialised Equity Schemes

 

Assessment 2 Due

Week 14

 

Revision

 

 

Week 15 

 

Assessment 3 Online assessment 

Week 16

 

Re-submissions- if required 

 

 

Week 17

 

Grade Entry

 

 

 

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 including the self - paced activities in the workbooks. 

 


Learning Resources

Prescribed Texts


References


Other Resources

Online learning materials can be accessed by going into the RMIT's Learning Management System, Canvas. 

The online learning materials listed may include: 

  • Course outlines
  • Power point Presentations
  • Supporting Reading material
  • Industry relevant articles
  • Activities


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • interpret and comply with industry regulations and codes of practice
  • analyse client’s needs, financial situation and risk profile, and prepare appropriate strategies or solutions relating to managed investments
  • provide accurate and ethical advice on managed investment products and services
  • implement the plan, policy or transaction once agreed by the client and complete documentation accurately.

Knowledge Evidence

To complete the unit requirements safely and effectively, you must satisfy generic and specialist knowledge requirements relevant to the products and activities in which advice is given.

Generic knowledge  

  • analyse and provide an overview of the economic environment including:
    • characteristics and impact of economic and business cycles
    • interest rates and exchange rates
    • inflation
    • government monetary and fiscal policy
  • analyse and provide a detailed explanation of the operation of financial markets including:
    • roles played by intermediaries and issuers
    • structure and interrelationships within the financial markets
    • interrelationship between industry sectors
  • outline financial products, including:
    • concept of a financial product – general definition, and specific inclusions and exclusions
    • types of financial investment products
    • types of financial risk products.

 Specialist advice 

  • provide a detailed explanation of managed investment products including:
    • concept of managed investments
  • range of products offered under managed investments schemes, or a specific product offered under a scheme:
    • property trusts, real estate investment strategies, valuation techniques, property management
    • equity trusts, fixed interest trusts
    • serviced strata schemes
    • primary production schemes
    • film schemes
    • time-sharing schemes
    • types of risks associated with managed investment products
  • outline taxation issues in relation to managed investment products and markets in which they operate
  • discuss the legal environment including disclosure and compliance covering:
    • role of the representative or adviser
    • relevant legal principles relating to the Corporations Act, Australian Securities and Investments Commission (ASIC) Act, Privacy Amendment (Private Sector) Act, Financial Services Reform Act (FSRA) and Competition and Consumer Act
    • relationship between ethics and regulatory requirements including good faith, utmost good faith, full disclosure of remuneration and fees, and any other conflicts of interest which may influence the adviser’s recommendation
    • relevant industry standards and codes of conduct
    • regulators’ guidelines including ASIC Regulatory Guide (RG)146 requirements
    • complaints resolution procedures (external and internal)
  • explain theories of investment, portfolio management and management of investment and risk:
    • investment concepts
    • investment strategies
    • identification of types of risk
    • client risk profile.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the financial services and products advice field of work and include access to:

  • office equipment, technology, software and consumables
  • managed investment product information. 

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.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.
 


Assessment Tasks

You will demonstrate competency by undertaking three assessments. You must successfully complete all assessments to be deemed competent in this unit.  

Assessment Task 1: Research and Application Assignment

Due: Sunday, 23 August 2020 (Week 7)

Summary and Purpose: This assessment has been designed for you to further develop your knowledge and skills in the foundation areas of Managed Funds.  The assessment looks at on the structure on how funds operate along with their role in dealing with diversification. The assessment also addresses the advantages of managed funds to other investments, tax structure and fee environment on which they operate. The assessment also looks at the management style of how funds operate. The assessment also looks at the importance of risk profile for investors who invest in managed funds.

Assessment Instructions: You are required to demonstrate your knowledge by completing a series of theory and problem- solving questions in the operating environment of insurance.

Assessment Task 2: Workplace Simulated Project and Role Play

Due: Sunday, 11 October 2020 (Week 13)

Summary and Purpose: The purpose of the assessment is to enable you to demonstrate a breadth of understanding across the module material. It assesses the knowledge you have obtained through undertaking the topics, your communication skills in presenting that knowledge and your problem-solving skills in answering the questions posed in a fact find meeting with the simulated client in the “Practice Firm”.

Assessment Instructions: For this assessment task you are to you are required to complete two Parts 1 (A & B) and Part 2.

Part 1 (A and B) – requires you to prepare a Fact find for a simulated client of the Swanston Banking Group (Practice Firm) and identify the key planning issues that will need to be addressed by the client.

Part 2 – requires you to conduct a meeting with the client explaining the key issues identified and outline the next steps in the financial planning process.

The workplace simulated project is linked to a simulated workplace environment “the practice firm”, referred as Swanston Banking Group Ltd. The practice firm has a physical presence in Building 80, level 6, room 7. The Swanston Banking Group Ltd. has been set up as a simulated publicly listed company in the Financial Services (Banking) industry offering a retail banking and customer service experience of the highest level not offered or matched by its competitors. 

Assessment Task 3: Online  Assessment

Due: (Week 15)

Summary and Purpose: For this Assessment Task you are required to demonstrate your knowledge of all the topics covered in throughout the semester from weeks 1 – 13 by completing a two-hour open book online assessment. 

Assessment Instructions: The assessment is comprised of a series of theoretical and practical questions including short answer and mini case studies. 


Assessment Matrix

The assessment matrix that maps all the assessment is available on Canvas.

 

Other Information

Submission Requirements

  • 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 the Assessment task document that includes a declaration and statement of authorship.
  • Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.

Resubmissions (VET Programs)

If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission.  Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.

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.

Penalties for Late Submission 

Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).

Extensions, Special Consideration and Adjustment to Assessments

Extensions:

Extensions are available for unforeseen circumstances of a short-term nature.

An application form must be submitted to the school at least one working day before the due date of the assessment.

Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)

Special consideration:

Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.

An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date

For more information, see the Special Consideration page of the RMIT website.

Adjustments to Assessment:

RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.

Changes to the Assessment Scheme

Where a change to assessment approved by the dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.

Feedback

You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.

Academic Integrity and Misconduct

Students demonstrate academic integrity in their assessment practices by:

  • engaging with assessment activities in an honest way;
  • providing accountability for the authorship and originality of work submitted;
  • acknowledging the work of others and the re-use of original work.

Academic misconduct is addressed in accordance with the Student conduct policy

Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.

For further information see the Academic Integrity website.

Review and Appeal

A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.

Grade Criteria

You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.

The following grades are available for this course.

Vocational education grades:

CA - Competency Achieved

NYC - Not Yet Competent

DNS - Did Not Submit for assessment

Course Overview: Access Course Overview