CQUniversity Unit Profile
FINC19020 Financial Plan Construction
Financial Plan Construction
All details in this unit profile for FINC19020 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student).
The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
General Information

Overview

This capstone unit applies prior knowledge to produce a statement of advice for a real world case study. You will conduct an initial client interview, research and develop a wealth strategy and learn to present a financial plan to a client. You also gain insights into management of client relationships.

Details

Career Level: Undergraduate
Unit Level: Level 3
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

Pre-requisites - FINC11001 and FINC19011 and LAWS19033 Co-requisites:- FINC19012 and FINC19016 and FINC13001

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Offerings For Term 2 - 2021

Online

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Class and Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

1. Practical Assessment
Weighting: 30%
2. Practical Assessment
Weighting: 40%
3. Practical Assessment
Weighting: 30%

Assessment Grading

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.

Previous Student Feedback

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback from Student evaluation

Feedback

Students felt overall well-supported by both unit coordinators.

Recommendation

Continue to support students using the various support services offered by CQU.

Feedback from Student evaluation

Feedback

Learning materials require consistency and better linkages to assessment.

Recommendation

Undertake further refinements to improvements to the learning resources and make the Moodle site easier to navigate.

Feedback from Student evaluation

Feedback

AMP University Challenge was well received by students.

Recommendation

Continue embedding this industry initiative in the unit assessment.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Research and identify client data in developing a statement of advice
  2. Apply professional and ethical principles pertaining to the financial planning process
  3. Employ communication skills to manage client relationships
  4. Apply financial planning software to model client scenarios.
Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Practical Assessment - 30%
2 - Practical Assessment - 40%
3 - Practical Assessment - 30%

Alignment of Graduate Attributes to Learning Outcomes

Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
5 - Team Work
6 - Information Technology Competence
7 - Cross Cultural Competence
8 - Ethical practice
9 - Social Innovation

Alignment of Assessment Tasks to Graduate Attributes

Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9
1 - Practical Assessment - 30%
2 - Practical Assessment - 40%
3 - Practical Assessment - 30%
Textbooks and Resources

Textbooks

Prescribed

Financial Planning: Essentials Edition 1st (2021)

Authors: Warren McKeown, Marc Olynyk, John Kerry, Lisa Ciancio, Diem La
John Wiley & Sons Australia, Ltd.
Milton Milton , Queensland , Australia
ISBN: E-Text: 9780730385752 Textbook: 9780730385738
Binding: Other

Additional Textbook Information

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • XPlan Software (Optional)
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Leeanne Hodgson Unit Coordinator
l.hodgson@cqu.edu.au
Angelique Mcinnes Unit Coordinator
a.mcinnes@cqu.edu.au
Schedule
Week 1 Begin Date: 12 Jul 2021

Module/Topic

Professional Obligations of a Financial Planner and Providing Advice

  • Legislative and compliance frameworks governing the provision and construction of the Statement of Advice [SoA]
  • Fiduciary obligations, FASEA Codes of Ethics and best interest duties

Chapter

  • Refer Study Guide for Week 1
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 1 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 2 Begin Date: 19 Jul 2021

Module/Topic

Overview of the Statement of Advice Development and Construction Process

  • The 6 steps - objectives, intentions and compliance
  • Examining SoA Exemplars and Templates



Chapter

  • Refer Study Guide for Week 2
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 2 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 3 Begin Date: 26 Jul 2021

Module/Topic

Gathering and Analysing Client Data and Tax Position

  • Articulating the client's goals and concerns, investment preferences and time horizons
  • Identifying the strengths and weaknesses of the client's financial position
  • Establishing the client's risk tolerance, risk capacity, liquidity, debt and tax position
  • CAMEO WORKSHOP: The AMP University Challenge and Past Successes

Chapter

  • Refer Study Guide for Week 3
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 3 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 4 Begin Date: 02 Aug 2021

Module/Topic

Wealth Protection 1: Analysing the Client's Insurance and Estate Planning Risks

  • Conduct an Insurance and Estate Planning Needs Analysis
  • Assessing the suitability and appropriateness of the client's insurance cover, policy type and ownership.
  • Articulate the critical estate planning needs




Chapter

  • Refer Study Guide for Week 4
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 4 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 5 Begin Date: 09 Aug 2021

Module/Topic

Wealth Protection 2: Developing and Constructing Wealth Protection Advice

  • Applying best interest duty and matching client needs with appropriate insurance polices 
  • Product replacement essentials, benefits and risks
  • Building support and articulating the justifications for the recommendations
  • CAMEO WORKSHOP: Using XPLAN Risk Researcher to select and compare insurance policies 



 

Chapter

  • Refer Study Guide for Week 5
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 5 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Vacation Week Begin Date: 16 Aug 2021

Module/Topic

Vacation and catch up week

Chapter

  • Weeks 1 to 5 Study Guides
  • Weeks 1 to 5 Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Weeks 1 to 5 in Moodle for:

  • Weeks 1 to 5 Study Guides and Content
  • Assessment completion
  • Catching up incomplete Modules from Weeks 1 to 5
Week 6 Begin Date: 23 Aug 2021

Module/Topic

Wealth Creation 1: Analysing [Non-Super] Short and Medium-Term Investments Options

  • Comparing the characteristics of cash, fixed interest and managed fund investments
  • Matching client objectives to non-super investments
  • Constructing short and medium-term investment advice using non-super products 



Chapter

  • Refer Study Guide for Week 6
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 6 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations

STATEMENT OF ADVICE [AMP UNIVERSITY CHALLENGE CASE STUDY] PART 1 of 2 Due: Week 6 Monday (23 Aug 2021) 11:45 pm AEST
Week 7 Begin Date: 30 Aug 2021

Module/Topic

Wealth Creation 2: Analyzing [Super] Long Term Investment Options

  • Review current superannuation contribution legislation and tax treatments
  • Developing long term and tax effective wealth accumulation strategies 
  • Aligning superannuation recommendations with the client's needs, objectives, risk tolerance and risk capacity

Chapter

  • Refer Study Guide for Week 7
  • Prescribed Reading and Supplementary Reading


Events and Submissions/Topic

Refer to Week 7 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 8 Begin Date: 06 Sep 2021

Module/Topic

Wealth Creation 3: Portfolio Construction

  • Aligning and re-aligning a managed fund portfolio with a client's risk tolerance 
  • Evaluating and selecting appropriate managed funds 

Chapter

  • Refer Study Guide for Week 8
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 8 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 9 Begin Date: 13 Sep 2021

Module/Topic

Finalising the Statement of Advice [SoA]

  • Refining and producing a professional and compliant Statement of Advice
  • Strategy maps 
  • Clarifying disclosure and scope of the advice
  • Thinking ahead to the SoA Presentation



Chapter

  • Refer Study Guide for Week 9
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 9 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations

STATEMENT OF ADVICE [AMP UNIVERSITY CHALLENGE CASE STUDY] PART 2 of 2 Due: Week 9 Monday (13 Sep 2021) 11:45 pm AEST
Week 10 Begin Date: 20 Sep 2021

Module/Topic

Managing the Client Relationship 1: Initial Phase 

  • Conducting effective client interviews
  • Questioning and framing techniques
  • Making the connection between FASEA Codes of Ethics, professional conduct obligations and 'Know Your Client' Rule
  • Complete the "Have Your Say" Student Evaluation Survey

Chapter

  • Refer Study Guide for Week 10
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 10 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 11 Begin Date: 27 Sep 2021

Module/Topic

Managing the Client Relationship 2: Presenting the Advice

  • Customising the SoA presentation to the client
  • Organising the SoA implementation documentation 
  • Discussing fees 
  • Complete the "Have Your Say" Student Evaluations Survey

Chapter

  • Refer Study Guide for Week 11
  • Prescribed Reading and Supplementary Reading

Events and Submissions/Topic

Refer to Week 11 in Moodle for:

  • Study Guide
  • Chapter_Overheads
  • Online webinar
  • Recorded Chapter_Readings
  • Chapter_Solutions
  • Online Zoom workshop presentations
Week 12 Begin Date: 04 Oct 2021

Module/Topic

SoA Presentations Conducted in this week.

  • Unit revision
  • Exam preparation
  • Complete the "Have Your Say" Student Evaluation Survey

Chapter

Refer to Week 12 in Moodle for:

  • Exemplars of SoA Presentations 
  • SoA Presentation Templates

Events and Submissions/Topic

Refer to Week 12 in Moodle for:

  • SoA Presentation Schedules
  • Other instructions

Statement of Advice Presentation Due: Week 12 Monday (4 Oct 2021) 11:45 pm AEST
Review/Exam Week Begin Date: 11 Oct 2021

Module/Topic

  • Complete the "Have Your Say" Student Evaluation Survey

Chapter

Events and Submissions/Topic

Refer to Weeks 1 to 12 in Moodle for:

  • Complete "Have Your Say" Student Evaluation Survey
Exam Week Begin Date: 18 Oct 2021

Module/Topic

Wishing you all the best with your future careers

Chapter

Events and Submissions/Topic

Unit Coordinator End of Term Report

  • Available once finalised by all the relevant Committees and Certification of Grades
Assessment Tasks

1 Practical Assessment

Assessment Title
STATEMENT OF ADVICE [AMP UNIVERSITY CHALLENGE CASE STUDY] PART 1 of 2

Task Description

This is assignment is ‘group’ assignment. ‘The group’ can be 1, 2 or 3 persons.

Comprehensive guidelines, submission instructions, resources and marking criteria will be available in Moodle in the ASSESSMENT Section and the ORIENTATION Section.

In summary you are required to complete the first part of a Statement of Advice.

The client details are taken from the AMP University Challenge case study.

The AMP University Challenge is a competition and a unique opportunity to combine your technical knowledge with your communication skills in a real-world scenario.

Prizes of up to $5,000 and a range of other significant benefits are awarded to finalists.

To receive the case study, you need to register ‘The Group’

Link: https://www.amp.com.au/unichallenge/home/overview

  • Your case study will be sent to you by AMP on Monday, 26 July 2021 once you are registered.
  • You'll have until Monday, 20 September 2021 (Week 10) to submit your discussion papers to the AMP University Challenge Portal if you wish to voluntary participate in the AMP University Challenge.
  • However, the completion of the first part of the SOA assessment is due a week before the AMP University Challenge's closing date (Week 9).

Critical Submission Instructions:

  1. Your submission to the AMP Challenge University Portal is OPTIONAL and some eligibility criteria may preclude some students from the competition.
  2. Regardless of whether you partake in the competition or not, you MUST upload your submission for this first part of the SOA to Moodle on the due date, Monday, 23 August 2021 (Week 6).
  3. Note this Part 1 of the SOA will not be graded until after Part 2 of the SOA is uploaded via Moodle on due date, Monday 13 September 2021 (Week 9).
  4. The aim of dividing the SOA Assessment into two parts is to encourage progressive learning and SOA completion. 
  5. Part 1 and Part 2 of the SOA will be graded together after submission in Week 10.
  6. If you do not submit this Part 1 of the SOA by due date you will be penalised under the late submission penalties as per CQU Assessment Policy.


Assessment Due Date

Week 6 Monday (23 Aug 2021) 11:45 pm AEST

Refer to the Task Description and Submission Instructions on Moodle in the ASSESSMENT tile.


Return Date to Students

Week 12 Monday (4 Oct 2021)

Feedback via Moodle in the Assessment tile.


Weighting
30%

Assessment Criteria

Details of the marking criteria and expectations will be provided on Moodle in the Assessment tile.

Note this part 1 of the SOA will not be graded until after Part 2 of the SOA is uploaded via Moodle on due date, Monday 13 September 2021 (Week 9).


Referencing Style

Submission
Online

Submission Instructions
Refer to the submission Instructions on Moodle in the Assessment tile.

Learning Outcomes Assessed
  • Research and identify client data in developing a statement of advice
  • Apply professional and ethical principles pertaining to the financial planning process
  • Employ communication skills to manage client relationships


Graduate Attributes
  • Communication
  • Problem Solving
  • Information Literacy
  • Team Work
  • Information Technology Competence
  • Cross Cultural Competence
  • Ethical practice

2 Practical Assessment

Assessment Title
STATEMENT OF ADVICE [AMP UNIVERSITY CHALLENGE CASE STUDY] PART 2 of 2

Task Description

This is assignment continues on from Part 1 of the SOA  ‘group’ assignment. ‘The group’ can be 1, 2 or 3 persons.

Comprehensive guidelines, submission instructions, resources and marking criteria will be available in Moodle in the ASSESSMENT tile.

In summary you are required to continue completing the Statement of Advice by continuing from Part 1 of 2 to complete Part 2 of 2..


  • You'll have until Monday, 20 September 2021 (Week 10) to submit your discussion papers to the AMP University Challenge Portal.
  • However, the completed SOA assessment is due a week before the AMP University Challenge's closing date, namely Monday, 13 September 2021 (Week 9).


Critical Submission Instructions:

  1. Your submission to the AMP Challenge University Portal is OPTIONAL and some eligibility criteria may preclude some students from the competition.
  2. Regardless of whether you partake in the competition or not, you MUST upload your submission to Moodle on the due date, Monday 13 September 2021.
  3. Both Part 1 and Part 2 of the SOA will be graded together using the rubrics provided.


Assessment Due Date

Week 9 Monday (13 Sep 2021) 11:45 pm AEST

Refer to Submission Instructions on Moodle and/or AMP University Challenge 2021 Website [link shown in Task Description]


Return Date to Students

Week 12 Monday (4 Oct 2021)

Feedback via Moodle using the rubrics within two weeks of the submission date.


Weighting
40%

Assessment Criteria

Details of marking criteria (rubrics) and expectations will be provided on Moodle in the Instructions file in the Assessment tile.

Note: Both Part 1 and Part 2 of the SOA will be graded together using the rubrics provided.

See details about the AMP University Challenge tips and past student experience.


Referencing Style

Submission
Online Group

Submission Instructions
ALL Submissions must be made to Moodle. Competition submissions via the AMP University Challenge Website in Week 10 is the responsibility of the student.

Learning Outcomes Assessed
  • Research and identify client data in developing a statement of advice
  • Employ communication skills to manage client relationships
  • Apply financial planning software to model client scenarios.


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Information Literacy
  • Information Technology Competence
  • Cross Cultural Competence
  • Ethical practice

3 Practical Assessment

Assessment Title
Statement of Advice Presentation

Task Description

This is an individual assignment.

Comprehensive guidelines, submission instructions, resources and marking criteria will be available in Moodle in the ASSESSMENT tile. 


In summary, you are required to setup a typical adviser-client environment and present your SoA to a mock client. In doing so you will demonstrate your ability to:

  • apply compliance procedures and communication skills to the presentation of comprehensive financial planning advice
  • build client relationships and execute your ethical and professional responsibilities


Important Notes:

The presentation must be recorded. While it is acknowledged a presentation in real-life can take up to 2 hours, for the purpose of this assignment your presentation will be restricted to 30 minutes. 

Recording logistics will be confirmed as part of Orientation issues discussed in Week 1 Webinar and confirmed in the ASSESSMENT Section on Moodle. The options being considered include:

  • uploading recording to YouTube [private setting]
  • conducting the presentation via Zoom 

 


Assessment Due Date

Week 12 Monday (4 Oct 2021) 11:45 pm AEST

Presentations need to be finalised and submitted by the due date. Refer to Submission Instructions on Moodle in the ASSESSMENT tile on Moodle.


Return Date to Students

Week 12 Friday (8 Oct 2021)

Feedback via Moodle within two weeks of submission.


Weighting
30%

Assessment Criteria

Details of the marking criteria (rubrics) and expectations will be provided on Moodle in the Assessment tile on Moodle. 


Referencing Style

Submission
Online

Submission Instructions
Refer to Submission Instructions on Moodle in the ASSESSMENT block

Learning Outcomes Assessed
  • Apply professional and ethical principles pertaining to the financial planning process


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Information Literacy
  • Cross Cultural Competence
  • Ethical practice

Academic Integrity Statement

As a CQUniversity student you are expected to act honestly in all aspects of your academic work.

Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.

When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.

Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.

As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.

What is a breach of academic integrity?

A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.

Why is academic integrity important?

A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.

Where can I get assistance?

For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.

What can you do to act with integrity?