Overview
In this capstone unit you will apply prior knowledge to all elements of the financial planning process including conducting an initial client interview, planning and constructing a statement of advice and presenting a financial plan to a client. The unit will also focus on communication skills aimed at building and managing the client relationship.
Details
Pre-requisites or Co-requisites
This unit should be taken in the final term of study.Co-requisites:FINC20030 Behavioural FinanceFINC20031 Ethical Financial Planning PracticeFINC20029 Financial Advice and Corporations Law
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 - 2020
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).
Recommended Student Time Commitment
Each 6-credit Postgraduate 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
Assessment Overview
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.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
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 Review of course and unit offerings
Unit discontinuation
The unit was well designed and proved popular with the small cohort. Due to a restructure of courses and units this offering has been discontinued. The unit materials will be retained.
- Investigate a client's financial situation and pathways to achieving financial goals
- Demonstrate compliance with the codes of professional and ethical practice in the financial planning process across a range of financial advice contexts
- Communicate technical knowledge and financial advice to clients clearly and manage the client relationship
- Employ a range of professional processes and tools in modelling and reviewing financial planning scenarios
- Work collaboratively with the professional financial planning community on financial planning advice projects.
This unit has been designed to conform to the accreditation requirements of the Financial Planning Education Council.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Practical Assessment - 50% | |||||
| 2 - Practical Assessment - 50% | |||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||
|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | |
| 1 - Knowledge | |||||
| 2 - Communication | |||||
| 3 - Cognitive, technical and creative skills | |||||
| 4 - Research | |||||
| 5 - Self-management | |||||
| 6 - Ethical and Professional Responsibility | |||||
| 7 - Leadership | |||||
| 8 - Aboriginal and Torres Strait Islander Cultures | |||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||
|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
| 1 - Practical Assessment - 50% | ||||||||
| 2 - Practical Assessment - 50% | ||||||||
Textbooks
Financial Planning 2nd Edition (Update Edition)
2nd (Update Edition) (2015)
Authors: McKeown, Kerry and Olynyk
John Wiley & Sons Australia, Ltd.
Milton Milton , Queensland , Australia
ISBN: eText 9780730343554, 0730343553
Binding: eBook
Additional Textbook Information
ETEXT CAN BE ACCESS VIA MCKEOWN 2E – FINANCIAL PLANNING
If you prefer to study with a paper copy, they are available at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code). eBooks are available at the publisher's website.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
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.
l.hodgson@cqu.edu.au
Module/Topic
Principles, professionalism and process
- Legislative frameworks and FASEA Codes of Ethics governing the provision and construction of the Statement of Advice [SoA]
- Fiduciary obligations, due diligence and best interest duty and disclosure.
- Stakeholders and their roles in the current climate
Chapter
Refer to Study Guide for Week 1 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 1 in Moodle for:
- Study Guide and Week 1 Questions and Applications
- Webinar Agenda
Module/Topic
Economic Environment and Financial Planning
- Business cycles and policy changes
- Re-thinking diversification strategies post GFC
- Investment clients and managing their response to economic and policy changes
Chapter
Refer to Study Guide for Week 2 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 2 in Moodle for:
- Study Guide and Week 2 Questions and Applications
- Webinar Agenda
Module/Topic
Gathering and analysing client data and tax position
- Effective questioning, framing and listening techniques
- Documenting effective file notes and the best interest duty statement
- Analysis of risk tolerance and risk capacity, cashflow, debt and tax position
- Aligning the analysis to investment choices and time horizons
Chapter
Refer to Study Guide for Week 3 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 3 in Moodle for:
- Study Guide and Week 3 Questions and Applications
- Webinar Agenda
Module/Topic
Wealth Protection 1: Analysing and Assessment of Insurance and Estate Planning Risks
Assessment of threats to the client’s financial plan including:
- Adequate and appropriate life insurance
- Estate planning [ie superannuation and death benefits in relation to insurance through super]
Chapter
Refer to Study Guide for Week 4 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 4 in Moodle for:
- Study Guide and Week 4 Questions and Applications
- Webinar Agenda
Module/Topic
Wealth Protection 2: Developing and Constructing Wealth Protection Product Advice
- Identifying poor versus appropriate wealth protection and insurance advice
- Developing, constructing and communicating quality wealth protection recommendations
CAMEO WORKSHOP: Using XPLAN Risk Researcher to support advice
Chapter
Refer to Study Guide for Week 5 Prescribed Reading and Supplementary Reading
Refer to ORIENTATION in Moodle for your XPLAN Login
Events and Submissions/Topic
Refer to Week 5 in Moodle for:
- Study Guide and Week 5 Questions and Applications
- Webinar Agenda
Module/Topic
Vacation week
Chapter
Vacation week
Events and Submissions/Topic
Vacation week
Module/Topic
Wealth Creation 1: Analysing and Assessing [Non-Super] Investment and Wealth Accumulation Options
- Current perspectives on the primary asset classes as direct investments
- Gearing and margin lending strategies - benefits, risks and safety margins
- Structuring quality advice around leveraged investment strategies
- Derivatives versus gambling
Chapter
Refer to Study Guide for Week 6 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 6 in Moodle for:
- Study Guide and Week 6 Questions and Applications
- Webinar Agenda
Module/Topic
Wealth Creation 2: Analysing and Assessing [Super] Wealth Options
- Evolution of superannuation and current status
- Developing and constructing quality superannuation recommendations
CAMEO WORKSHOPS:
- XPLAN Wealth Solver
Chapter
Refer to Study Guide for Week 7 Prescribed Reading and Supplementary Reading
Refer to ORIENTATION in Moodle for your XPLAN and Morningstar logins
Events and Submissions/Topic
Refer to Week 7 in Moodle for:
- Study Guide and Week 7 Questions and Applications
- Webinar Agenda
Module/Topic
Evaluating and Constructing Wealth Creation Portfolios
- Portfolio construction techniques and application of risk profile to strategies
- Communicating the benefits and risks of a superannuation portfolio to the client
Chapter
Refer to Study Guide for Week 8 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 8 in Moodle for:
- Study Guide and Week 8 Questions and Applications
- Webinar Agenda
Full Statement of Advice Construction Due: Week 8 Monday (7 Sept 2020) 5:00 pm AEST
Module/Topic
Managing the Client Relationship – Pt 1 Initial Phase and reflective practice
- Advanced client relationship skills in the initial phase
- Reflective practice
Chapter
Refer to Study Guide for Week 9 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 9 in Moodle for:
- Study Guide and Week 9 Questions and Applications
- Webinar Agenda
Module/Topic
Managing the Client Relationship – Pt 2 Presenting the Advice and reflective practice
- Conflict resolution and maintaining ethical client relationships
- Implementing the financial advice
Chapter
Refer to Study Guide for Week 10 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 10 in Moodle for:
- Study Guide and Week 10 Questions and Applications
- Webinar Agenda
Module/Topic
Managing the Client Relationship – Pt 3 Financial Coaching, Educating the Client and Reflective practice
- Ongoing client relationships
- Reviewing the financial advice
- Client coaching / empowerment
Chapter
Refer to Study Guide for Week 11 2Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 11 in Moodle for:
- Study Guide and Week 11 Questions and Applications
- Webinar Agenda
Module/Topic
Contemporary Issues in financial planning construction
Chapter
Refer to Study Guide for Week 12 Prescribed Reading and Supplementary Reading
Events and Submissions/Topic
Refer to Week 12 in Moodle for:
- Study Guide and Week 12 Questions and Applications
- Webinar Agenda
SoA Presentation Due: Week 12 Monday (5 Oct 2020) 11:45 pm AEST
Module/Topic
Finalisation of grades
Chapter
Events and Submissions/Topic
Module/Topic
Unti Coordinator End of Term Report
Chapter
Events and Submissions/Topic
Available after finalisation by the relevant Committees
1 Practical Assessment
This is an individual assignment. Comprehensive guidelines, submission instructions, resources and marking criteria will be available in Moodle in the ASSESSMENT Section.
In summary, you are required to prepare a best interest duty analysis and construct a full statement of advice from the client case study provided. In doing so you will demonstrate your ability to:
- apply knowledge of the financial planning processes in the preparation of comprehensive financial planning advice
- clearly explain the appropriateness of your recommendations
- consolidate client data and model financial planning scenarios to justify and support your advice
- follow codes of professional and ethical practice in the preparation of the advice
- evaluate the need for expert contributions from other professionals
Important Notes:
- Templates are provided for the Best Interest Duty Analysis and SoA
- XPLAN and other relevant financial planning software may be used in the analysis and construction of the SoA
Week 8 Monday (7 Sept 2020) 5:00 pm AEST
Refer to Submission Instructions on Moodle in ASSESSMENT Section
Week 10 Monday (21 Sept 2020)
Feedback via Moodle
Details of the marking criteria and expectations will be provided on Moodle in the ASSESSMENT Section.
- Investigate a client's financial situation and pathways to achieving financial goals
- Demonstrate compliance with the codes of professional and ethical practice in the financial planning process across a range of financial advice contexts
- Communicate technical knowledge and financial advice to clients clearly and manage the client relationship
- Employ a range of professional processes and tools in modelling and reviewing financial planning scenarios
- Work collaboratively with the professional financial planning community on financial planning advice projects.
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Ethical and Professional Responsibility
- Leadership
2 Practical Assessment
This is an individual assignment. Comprehensive guidelines, submission instructions, resources and marking criteria will be available in Moodle in the ASSESSMENT Section.
In summary, you will present your SoA to your lecturer via zoom. The session will be recorded and there will be a time restriction of 30 minutes [i.e. 20 minutes for presentation and 10 minutes for questions].
You will be assessed on a range of criteria including 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:
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.
Week 12 Monday (5 Oct 2020) 11:45 pm AEST
Presentations need to be finalised and submitted by the due date. Refer to Submission Instructions on Moodle in ASSESSMENT Section
Exam Week Wednesday (21 Oct 2020)
Feedback via Moodle
Details of marking criteria and expectations will be provided on Moodle in the ASSESSMENT Section.
- Investigate a client's financial situation and pathways to achieving financial goals
- Demonstrate compliance with the codes of professional and ethical practice in the financial planning process across a range of financial advice contexts
- Communicate technical knowledge and financial advice to clients clearly and manage the client relationship
- Employ a range of professional processes and tools in modelling and reviewing financial planning scenarios
- Work collaboratively with the professional financial planning community on financial planning advice projects.
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Research
- Self-management
- Ethical and Professional Responsibility
- Leadership
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?
